Snapchat stock loses $1.3 billion after Kylie Jenner tweet

Nike's Snap brand sells basketball shoes via Snapchat app

Snapchat stock loses $1.3 billion after Kylie Jenner tweet

On Thursday, the stock fell 8% after reality TV star Kylie Jenner revealed she doesn't use Snapchat anymore.

In the latest blow for the controversial redesign of the app, Queen of Snapchat Kylie Jenner, who has the most followers on the platform, declared that she no longer used it.

Snap Inc.'s flagship platform has lost some luster, at least according to one social-media influencer in the Kardashian-Jenner clan.

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In the message signed by the Snapchat team and posted as a reply on the petition, the company says that it's heard the feedback of the redesign loud and clear and acknowledges how the "new Snapchat has felt uncomfortable for many". And earlier this week, Snapchat announced plans to integrate "Tabs" into the app, which should make it easier for users to find the stories they're looking for.

The app update changed the way stories are sorted in an effort to more clearly distinguish between content from people users know and content from brands and celebrities.

'Still love you tho snap ... my first love, ' the Kylie Lip Kit creator added.

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Snap is sticking to its guns, however and the app won't be changing back any time soon, with CEO Evan Spiegel stating that "the complaints we're seeing reinforce the philosophy". Figuring out how to use it was like a secret you could share with friends, and it worked, successfully winning over young folks while remaining out of reach for numerous olds who still use Facebook. We are very excited for what's ahead. Her comment has been liked more than 2,000 times.

However, its market value has endured something of a roller coaster ride ever since, with investors consistently disappointed by core numbers at the loss-making firm despite daily active user growth for Snapchat growing 18% past year - albeit to nearly 190 million. The seven-year-old company spent the last year watching as its stock sunk further and further following its $3.4 billion IPO. They're not your friend.' So for us, even some of the frustrations we're seeing really validate those changes.

After months of keeping out of the public eye, ignoring social media and dodging paparazzi to keep her pregnancy as private as possible, Kylie Jenner has made a monumental return to the spotlight.

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