Published: Sun, February 25, 2018
Culture | By Henry Herrera

Oh snap! Kylie's tweet sends Snapchat shares tumbling

Oh snap! Kylie's tweet sends Snapchat shares tumbling

Or just blind coincidence?

The social media star tweeted this week that she doesn't use the app anymore, wiping more than $1 billion from Snap's market capitalization.

Snap shares fell around seven per cent after Jenner tweeted: "So does anyone else not open Snapchat anymore?"

"Then once, I just chose to try Instagram stories, just on a whim, so I just posted one or two things over there and boom, 400,000 people instantly saw it without me telling anyone about it". "We completely understand the new Snapchat has felt uncomfortable for many", the company wrote on, in response to the petition.

When Kylie Jenner talks, even Wall Street snaps to attention, it seems. While she wasn't the only factor to contribute to the drop, Kylie's influence was certainly significant. But out of all the social media platforms available, Kylie has historically preferred the millennial-dominated Snapchat above all the others. Jenner alone has 24.5 million Twitter followers and 104 million Instagram followers. In two weeks it amassed 59 million views.

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The thing is, the way Kylie Jenner's opinion of the latest changes on Snapchat is being portrayed isn't really fair to her. Kylie used Snapchat faithfully for a very long time. But is it fatal?

Nik Hewitt, who is a social media expert told Newsweek, there is no need to hold an e-funeral for Kylie's "first love", Snapchat just yet. Users have complained about this change, and said it's also more hard to find posts from friends you communicate with less frequently. The value of the parent company Snap Inc went down by $1.3 billion!

In the old version, content from a user's friends and that from third-party publishers was displayed in one feed. The reality starlet's comments echoes the opinion of much of the public who criticized the new changes for making it harder to keep track of the accounts of both friends and family.

With Instagram launching Instagram Stories, a feature similar to Snapchat's stories, Hewitt said it was imperative that Snapchat listen to its users in order to retain custom-or risk losing them to the Facebook-owned rival.

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