Snapchat stock falls after Kylie Jenner's tweet


After undergoing a major redesign to lure in more users, Snapchat had to deal with a tidal wave of discontent from hard-core fans that simply hate the app's new interface.

Celebrity Kim Kardashian's half-sister posted: "sooo does anyone else not open Snapchat anymore?" But that was before Kylie tweeted her dissatisfaction. "Ugh this is so sad".

Snap stock price. For reference, Kylie Jenner tweeted at 4:50PM ET on February 21st.

After dropping nearly 8 percent, shares in Snap closed 6 percent down on Wall Street, and are now back near the $17 price at which the shares were listed when the company floated on the stock market.

Jenner later followed up the original Tweet declaring that she "still love you tho first love", but it seems that the damage may have already been done.

During her high-profile "secret" pregnancy, Kylie Jenner pretty much went off the social media grid altogether for several months.

The company, however, did not back down from its plan to continue with the redesign.

A petition on, urging Snapchat to remove the update, pulled in 1.2 million signs forcing Snapchat to release an official statement basically telling all users to suck it up because the update will become "easier" to use. She's also an extremely prominent Snap user, so her calling it quits could be disastrous for the app's user base.

Snap Inc (NYSE:SNAP) has been a hit with a barrage of complaints over the redesign to its popular Snapchat app, and the company has responded to let users know that it hears them loud and clear.

Snap CEO Evan Spiegel recently reiterated the company's commitment to stick with the new design in an appearance at a Goldman Sachs investor event, where he told critics that they were proving the company right.

Snapchat has been under fire from users who have criticized the app's new layout for being too confusing to navigate.

The criticism from Ms Jenner was followed by news that Mr Spiegel received $637.8m as total compensation previous year after the company went public.