Kylie Jenner allegedly caused the value of Snapchat’s parent company, Snap Inc., to plummet by $1.3 billion.
Following Snapchat’s controversial new redesign, the Reality TV show star wrote, “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad” on Twitter.
Hours afterward, stock in Snap dropped by almost eight percent, before leveling off at six percent by the time the market closed. Jenner then sent a follow-up tweet, writing, “still love you tho snap … my first love.” Jenner then retweeted a fan who asked for the company to bring back the old design.
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In response to criticism, Snap Inc. released a statement: “We hear you, and appreciate that you took the time to let us know how you feel. We completely understand the new Snapchat has felt uncomfortable for many.”
The company then reassured fans that the design would get easier to use over time: “By putting everything from your friends in one place, our goal was to make it easier to connect with the people you care about most. The new Friends page will adapt to you and get smarter over time, reflecting who you’re most likely to be Snapping with at that moment.”
