Over A Single Tweet By Kylie Jenner, Snapchat Losses A Billion Dollars

#1 Company's Stocks Plunged By 6% On Thursday

Reality TV star, model, entrepreneur and social media queen Kylie Jenner recently tweeted about Snapchat's recent update and the 20-year olds single tweet has caused the company to lose over $1.3 billion in one day. Reportedly Jenner tweeted that because of the recent update she is no longer using the app and as a result of it the company's stock closed down 6% on Thursday.

#2 Jenner Tweeted That She Is Not Using The App Anymore

Snapchat's one of the most influential users, Jenner tweeted, "Sooo does anyone else not open Snapchat anymore? Or is it just me... ugh this is so sad." Though the damage had already been done, following it, Jenner tweeted again, "Still love you tho snap ... my first love."

#3 Snapchat Has Been Under Fire Because Of Its Confusing Layout Update

Since the recent update by Snapchat, the social media app app has been under fire or its new layout to be too conusing to operate. Around 1 million people signed a petition through Cjange.org, demanding the company to switch back to its previous design however, the company did not bother to reply.

According to Daniel Ives, chief strategy officer and head of technology research at GBH Insights, Jenner is one o the most influential personaluty on Snapchat so her reaction simply acted as adding a fuel to the already existing fire, "We believe this is an overreaction as Wall Street is hypersensitive to the app redesign. With roughly 25 million followers, [Jenner] carries a loud mouthpiece that speaks to today's knee jerk reaction in shares."

#4 Snapchat Says They Are Doing It To Make It Easier For Their Users

Mr Ives further says that Snapchat has made the following changes inorder to expand its users, in his point of view the company is doing the right thing all they need is just to manage it well, "Snap is doing the right strategic moves but needs to manage this process well."

Following the petition signed on Change.org, Snapchat replied back stating that the update has been announced to make it easier for the users, "We hear you, and appreciate that you took the time to let us know how you feel. We completely understand the new Snapchat has felt uncomfortable for many." Snapchat further added it will soon roll out tabs in the app's Friends and Discover sections to make it easier for users to find Stories.

#5 Other Celebrities Including Teigen Have Shown Their Disappointment Towards The New Update

Apparently a number of other celebrities have also criticised the recent Snapchat update. Sharing her dislike over the new update, model Chrissy Teigen tweeted, "How many people have to hate an update for it to be reconsidered?"