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Snap stock plummets after Kylie Jenner declares Snapchat dead

23 February 2018

A billion Dollar dive in the value of Snapchat stock is being blamed on a single tweet from reality TV star Kylie Jenner. "Or is it just me... ugh this is so sad", the youngest of the KarJenner clan wrote.

The redesign is aimed to make the popular app "easier to use", as CEO Evan Spiegel put it, by creating a starker separation between content from friends and publishers in its Discover tab.

She told her 24.5 million followers she was no longer using Snapchat in a Tweet that said: "Sooo does anyone else not open Snapchat anymore?"

Earlier this month, the new mom commented on the recent changes to the app's interface on Twitter.

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The company, however, did not back down from its plan to continue with the redesign.

Snap, the parent company of Snapchat, responded on Tuesday to a petition calling for it to reverse its app redesign.

Snap's response points to additional changes that it announced yesterday, including a tabs feature that lets users "sort things like Stories, Group Chats, and Subscriptions, allowing you to further customise your own experience on the app".

Snapchat today officially responded to a petition that has accumulated almost 1.5 million signatures and asks the company revert to the old design of the application. Last year, E! even launched a Snapchat companion show to her Life of Kylie series called Ask Kylie.

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Social media has been filled with complaints about the update, where users have taken issue with a number of changes.

In its response, Snap stated that it made an effort to pool everything into one place to enable users to connect with people they care about. Users have complained about this change, and said it's also more hard to find posts from friends you communicate with less frequently.

Mr Spiegel had something to soften the blow, though, with news on Thursday that his total pay previous year was a staggering $637.8m. "This new foundation is just the beginning, and we will always listen closely to find new ways to make the service better for everyone", the company said.

Maybe they should hire Jenner as a consultant for their next redesign?

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Snap stock plummets after Kylie Jenner declares Snapchat dead