Snapchat is insanely popular, especially amongst teenagers. Unfortunately, Snapchat recently rolled out a redesign that led to users revolting. There’s even a petition calling for Snapchat to reverse the update, and 1.2 million people have signed so far.
The Snapchat user revolt is showing no signs of stopping either. In fact, it’s now having a direct impact on Snap’s finances. This is evidenced by the sudden drop in the company’s share price immediately after Kylie Jenner sent a single tweet…
Kylie Jenner Impacts Snap’s Share Price
Kylie Jenner is, for the uninitiated, one of the Kardashian klan. I only know because I Googled it. Honest. But whatever you think of her and her “talents,” Jenner has a huge following on social media, including over 24 million followers on Twitter. Which matters.
On Wednesday (Feb 21), Jenner sent the following tweet to her followers. Thousands of replies, retweets, and likes later, and this single, solitary tweet had an impact far beyond the confines of Twitter. Because Snap’s share price then tanked.
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
It isn’t even clear that Jenner has stopped using Snapchat because of the recent redesign. It’s just as likely she’s been too busy being a mother, as she gave birth to her first baby just a few weeks ago. Regardless, assumptions were made, and the market reacted. Badly.
The share price has now started to rise once again, but at the time of writing it still isn’t back to the level it was before Jenner tweeted. And while one tweet isn’t going to kill a company the size of Snap, it’s indicative of a larger revolt by Snapchat’s legion of users.
Will This Force Snap to Change its Mind?
Until now, Snap has stood firm in its belief that this redesign is for the better, and that users will eventually get used to it. However, companies tend to change their minds quickly when their bottom line is threatened, and so this may just force a change of heart.
Do you use Snapchat? If so, what do you think of the redesign? Should Snap listen to its users and change everything back? Should more celebrities tweet negative things about Snapchat in order to force a change? Please let us know in the comments below!
Image Credit: Anthony Quintano via Flickr