Jenner's tweet was followed late Thursday by one from Maybelline New York, asking its followers if it should stay on the Snapchat platform. As Kylie Jenner tweeted about the new update being "so sad", the social networking major's share prices plummeted by nearly eight percent.
"Sooo does anyone else not open Snapchat anymore?"
More that one million people signed a Change.Org petition calling for Snapchat to revert to its previous design, labelling the new version too hard to use shortly after its launch. "Snap is reliant on its users actually using the service to generate ad income". That's also the question that put an end to Snap's financial growth. The social media company, long criticized for not meeting competitor Instagram's success, showed signs of improvement during its last earnings call, with $285.7 million in revenue and a growth in user base of 8.9 million daily active users.
CEO Evan Spiegel was the taking a big-time hit. After reporting its 2017 fourth-quarter earnings, the social media company prices surged, giving it the first good news after listing on the NYSE.
"Snap Inc. responded to Kylie's message from yesterday and surprisingly admitted that the 'new Snapchat has felt uncomfortable for many".
Donald Trump threatens to pull law enforcement from California in immigration row
California has a " sanctuary state" policy, in which the state openly refuses to cooperate with federal immigration authorities. The president said that California would be "begging for us to come back" after two months, according to the report.
Snapchat also said the update will make it easier for users to "further customize your own experience on the app".
"We hear you, and appreciate that you took the time to let us know how you feel".
The remuneration was, however, heavily boosted by the award of shares when the company listed on the stock market. Wall Street analysts too have begun to notice, citing recent user engagement trends noticed since the platform's redesign. "I think it's going to be challenging because they're going to have to move into an older group and I'm not sure that's going to work".
Jenner, an undisputed queen of social media, may have unintentionally destroyed one of her favorite (or.previously favorite) sites Wednesday (February 21) when she issued a single unfavorable tweet.
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