Reality TV star wipes $1.3 billion off Snap market value

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While the influence of Jenner and her ilk is undeniable, a more fair assessment of the value drop would be to acknowledge the generalised negativity around the update from such a vast amount of Snapchat users. In November, Snap CEO Evan Spiegel told investors that a redesign of the wildly popular social media platform was due for a total overhaul redesign. "Or is it just me. ugh this is so sad", she said.

Kylie Jenner ruined Snap's market value with one thing ... a tweet. She followed up the initial message with another - "Still love you tho snap" - but that amounts to a #sorrynotsorry, with the damage already being done.

In the post, Snapchat said it will soon roll out tabs on iOS in the app's Friends and Discover sections to make it easier for users to find Stories, which are photos and videos shared by users that disappear after 24 hours.

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Reality TV Star and Social Media Influencer Kylie Jenner has recently caused a market commotion after tweeting her thoughts about Snapchat which ultimately sank the shares of the social media company on Thursday's trades.

Meanwhile, a petition on calling on Snapchat to abort the redesign has gathered more than 1.2 million signatures, signalling that folks are not quite ready to jump ship just yet.

Many users have a complaint about the application's latest update, Kylie's tweet about not using Snapchat anymore worked as the testimony for the platform's sinking popularity. After reporting its 2017 fourth-quarter earnings, the social media company prices surged, giving it the first good news after listing on the NYSE.

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USA celebrity Kylie Jenner yesterday wiped around $1.3bn (£900m) off the market value of Snap.

Snap has, however, defended the move saying users will get used to the changes in time. "The new Friends page will get smarter and adapt to you over time, reflecting who you are most likely to be Snapping with at that time".

The app's redesign was detested by most of its users-and Jenner was apparently unimpressed, too.

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Snap's stock was trading around $17.53 Friday morning. The petition is aimed to remove the said update.

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