Snapchat's future isn't bright, at least according to one of the world's biggest influencers.
Kylie Jenner wrote on Twitter—a platform which she still uses—asking her 24.5 million followers: "Does anyone else not open Snapchat anymore? Or is it just me..." The response delivered more than 300,000 'Likes' as well as 62,000 shares, inspiring a conversation about preferred social platforms as well as users who are still unhappy with the app's new redesign. Snapchat's parent company Snap Inc. recently responded to a hugely popular Change.org petition where more than 1.2 million people asked for the app to roll back a new design that was intended to make the app easier for more people around the world and of different ages to use.
While Snapchat's redesign is here to say—according to their response and Snap Inc. CEO Evan Spiegel—Jenner's recent thoughts have sent the company's shares spiraling seemingly as a result. According to Bloomberg, shares of Snap sank 6.1 percent on Thursday, wiping out $1.3 billion in market value following the late-afternoon tweet that came out just before the markets closed on Wednesday.
Whether it's the demands of being a new mom, the redesign or more competition from similar apps (like Instagram and Facebook's Story features), Kylie picked up on something users and Wall Street analysts all agree on in less engagement and conversation around Snapchat these days. Snapchat certainly changed the game for social media, making real-time and candid updates from users throughout their days a newly necessary part of being a 21st-century human. But it seems like others have taken the idea and polished it.
Could Snapchat bounce back? Kylie did share add an additional tweet after her response saying, "still love you though Snap" but it's fate is looking more and more like Myspace—another platform that Kylie doesn't use anymore.
Next, watch Khalid explaining how Ms. Jenner boosted the popularity of his "Location" single: