Has Kylie Jenner Knocked $1 Billion off Snapchat’s Value?
by 👨💻 Graham Pierrepoint
Anyone paying attention to tech news in recent weeks will likely already know that there’s been a considerable backlash mounted against changes made to Snapchat’s user interface, or UI. The changes made to the photo and video sharing app mean that users will now have to relearn how to access features such as Chat and Stories – and it seems that the brand are fairly unrelenting when it comes to the changes, with updates made in an attempt to make browsing the UI easier, though with no plans to revert back to the old platform.
If the changes made to the UI weren’t met with enough bad news for the brand, it seems that their market value has taken a significant nosedive after one of its most high profile users posted negatively about the app in recent days – such is the power of social media! It is being reported that stock value in the app plummeted significantly following Kylie Jenner – star of reality TV and social media alike – having reportedly claimed on Twitter that she no longer feels interested in using the service. “Does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad,” tweeted the Keeping Up With The Kardashians star, who with hundreds of thousands of likes and retweets has a considerable following online – and thus could potentially affect how Snapchat goes down with the general public.
Certainly, it seems that, along with negative reception to the UI changes coupled with Jenner’s tweet, some investors bailed on Snap Inc this week. It’s thought that the brand has nosedived six per cent in total – a significant drop – and one which many will hope is noticed in the coming weeks and amended for. While Snap have apologized and have offered support regarding worries over the changes made to the UI, for many people this hasn’t been enough. With one of the app’s most high profile users in Jenner reportedly no longer interested in using the service, this could easily take away some further interest from Snapchat full stop.
It’s not been an easy few weeks for Snapchat – while we do think a change is as good as a rest, it seems that alterations brought in to help enhance the UI experience in recent times have been met with the adverse effect – and if value in the business continues to travel downhill in value, it is uncertain quite how long these changes will stay in place for.
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