On Wednesday, new mom Kylie Jenner sent out a tweet basically saying what's been on everybody's mind - the new Snapchat update sucks, and users are dropping like flies.
By the next day, Snap Inc.'s stock price had fallen dramatically, plummeting 7.2%. The company lost a whopping $1.3 billion in market value since Jenner tweeted to her 24.5 million followers that she hasn't been using the app lately. Jenner didn't clarify why she hasn't been motivated to use the app as of recently, but it's safe to assume the 2018 Snapchat update is at least partly responsible. Her tweet got 62,851 retweets and 323,293 likes (and counting!) along with a barrage of twitter users responding in total agreement.
While it's not 100% certain that Snapchat's stock price was sent tumbling as a direct result of Jenner's tweet, the timing would have to be a big coincidence. Jenner is one of Snapchat's most famous and popular users, and even though she posted a follow-up tweet ten minutes later softening the blow by insisting she still loves the app, it's possible the damage to the brand had already been done.
The Snapchat update has been so widely despised that a petition to reverse the new layout has received over 1,200,000 signatures. Snapchat actually responded to the online petition, replying, "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. By putting everything from your friends in one place, our goal was to make it easier to connect with the people you care about most."
So far, it doesn't look like Snapchat is budging on reversing the changes, but who knows? Socia media pressure - especially from the queen of social media - can do great things.