Snapchat’s new design is making a lot of people frustrated, including some of the major users of the platform. Yesterday, Kylie Jenner tweeted that she was no longer opening the app as often as she’d used to – and if her influence is anything to be questioned, Snap’s stock was downgraded by Citi, and is down 8 percent today compared to yesterday.
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
Of course, there could be many factors leading to the fall in price, but Jenner has been one of Snapchat’s biggest users since the app’s inception. Without influencers like her to bring new users to the app, it will only continue to bleed users thanks to the newest update.
“While the recent redesign of its flagship app could produce positive long-term benefits, the significant jump in negative app reviews since the redesign was pushed out a few weeks could result in a decline in users and user engagement, which could negatively impact financial results,” Citi’s Mark May wrote Tuesday.
Snapchat has come out publicly to say that it will not reverse the update, but it will add new features like Tabs to try and make navigation easier.
via Tech Crunch
This article was first published on Your EDM.
Source: Snap Stock Plummets Following Tweet From Kylie Jenner
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