Snapchat Shares Drop After Kylie Jenner Tweets Her Dislike On Redesign

Nike's Snap brand sells basketball shoes via Snapchat app

The company's update for Snapchat has been poorly received, and today, Snap's stock price took another tumble following a tweet from Kylie Jenner declaring that she was done with the social imaging app.

Kylie recently returned to all forms of social media after the birth of her daughter, Stormi Webster, but there is one she hasn't - Snapchat. "Or is it just me. ugh this is so sad", Jenner tweeted on Wednesday.

Users of the app have complained that the latest update has made it nearly impossible to find content.

Snap is sliding Thursday, down 8.48% at $17.06 a share, after Kylie Jenner suggested her days of using its Snapchat app are over.

In a keynote at the Goldman Sachs Technology and Internet Conference last week, Snap CEO Evan Spiegel said users had complained that they no longer felt as if celebrities were their friends on the app.

The company, however, did not back down from its plan to continue with the redesign. If Jenner, who was once the most-viewed star on Snapchat and has been dubbed its "queen", is souring on the app, that's not a good sign.

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A petition garnered 1.2 million online signatures and even a response from the company that in essence said that the redesign was here to stay.

"Still love you tho snap", she tweeted. That was a particular point of contention among Snapchat's most passionate users.

In fact, the company issued an official response to the petition by explaining that the changes are meant to enable users to "connect with the people you care about most".

Despite the criticism, Snapchat founder and chief executive Evan Spiegel, 27, is still set to pocket $AU811 million in stock grants after the company went public a year ago. The same is true for the new Discover page, which will also "adapt to you the more that you use it".

Ultimately though, Snap is saying that it's leadership though long and hard about the redesign of the app and has thus far no intention of reversing the direction they chose to take. But it also made clear that the recent update was "just the beginning, and we will always listen closely to find new ways to make the service better for everyone".

The company went on to explain that numerous features of its freshly designed app - which has separated posts and messages from friends and more professionally produced content - will get better over time. We are very excited for what's ahead.

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