Kylie calls Snapchat ‘sad’, company loses $1.3 bn
Los Angeles : Reality TV star Kylie Jenner, who is active on all social media platforms, called photo-sharing app Snapchat “sad”, which caused a loss of $1.3 billion in market value to the company.
“So does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad,” Kylie tweeted on Thursday.
Kylie’s tweet sent shares of Snap Inc. down more than six per cent after she tweeted disapproval of the redesign of the company’s video messaging app Snapchat, reports latimes.com.
She followed it up with “still love you tho snap … my first love”, but the damage may already have been done.
The redesign was supposed to make Snapchat more approachable to new users, but it’s been the subject of a backlash from its existing audience, highlighted by a change.org petition with over 1.2 million signatories.
“With the release of the new Snapchat update, many users have found that it has not made the app easier to use, but has in fact made many features more difficult,” read the petition, which was started by a user named Nic Rumsey.
The redesign separates Snapchat into three parts — friends, the camera and photo-related features — and the Discover tab, which consists of curated and sponsored content, publishers and influencers.
One of the chief complaints about the new design was that celebrities were removed from the tab where friends are found and placed instead in the Discover tab.
“Snap is doing the right strategic moves but needs to manage this process well as celebrity influencers like Kylie Jenner are a key ingredient in the company’s recipe for success,” Daniel Ives, an analyst for GBH Insights.
“The app redesign was a necessary step for Spiegel (Snapchat creator Evan Spiegel) and team to expand the demographics and monetisation footprint of the platform, but the core user base must be managed through this transition, and Kylie Jenner is not helping things,” added Ives.
IANS
