Did Kylie Jenner's Tweet Cost Snapchat $1.3 Billion?

Credit Snapchat via YouTube

On Thursday, the stock price of Snap, Snapchat's parent company, fell about 6 percent closing at $17.51. "Or is it just me. ugh this is so sad", Jenner tweeted on Wednesday. Perhaps taking this into account, Jenner tweeted 10 minutes later, "still love you tho snap ... my first love".

Whether Jenner's snip at Snapchat was a factor in the stock drop is a subject of debate, but Bloomberg notes that Maybelline New York followed her tweet by asking its followers whether it should stay on the platform.

Jenner, though, later praised Snap. Her celebrity adds fuel to the backlash surrounding the app's major redesign, according to Daniel Ives, chief strategy officer and head of technology research at GBH Insights.

Snapchat has been under fire from users who have criticized the app's new layout for being too confusing to navigate. But he also hoped that the redesign could help fix some common problems faced by all social media apps, he told the Guardian before the launch. "With roughly 25 million followers, (Jenner) carries a loud mouthpiece that speaks to today's knee-jerk reaction in shares". Previously, the app had people's personal messages in one tab and their stories under another tab. One tech blogger called it "a colossal mess".

And this was just a day after Snap's stock took a slight upturn following another significant drop in response to a Change.org petition - with over 1.2 million signatures - requesting the old design back.

However, "this new foundation is just the beginning and we will always listen closely to find new ways to make the service better for everyone", according to the company.

In the run up to the redesign, the company's co-founder and chief executive Evan Spiegel promised it would satisfy concerns (particularly among investors) that Snapchat was too hard to use.

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