Kylie Jenner Tweet Decimates $1.3 Billion in Snap's Market Value

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It later gained two percentage points as markets closed with Snapchat being down six percent at $17 a share, thus registering the loss in value at $1.3 billion.

But with 24.5 million followers on Twitter, 104 million followers on Instagram and a robust presence on Snapchat, few have the platform or influence Jenner has with the target demographic Snapchat relies on.

"Then once, I just made a decision to try Instagram stories, just on a whim, so I just posted one or two things over there and boom, 400,000 people instantly saw it without me telling anyone about it".

Just weeks after rolling out a new update to its app, Snapchat is struggling to win over its users.

Whether it's the demands of her new-found motherhood, or the recent app redesign, the testament drew similar replies from her 24.5 million followers. Her followers then joined her in criticizing the app, leading to Wall Street analysts to lower Snap's market value, according to Bloomberg. He promised that it would come with a more user-friendly design, but since rolling it out, users are less than enthused.

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The move comes on the heels of a petition that asked the company to remove the redesign. People were so outraged that a million Snappers signed a petition to get the company to revert to the old format. To no avail, Spiegel has defended his company's decision to keep the update, saying he feels more connected than ever with the app. She notes that her use of the app has been sparse lately. It also apparently pumps significantly more promoted posts into user's feeds. "Major users complaining publically, it seems".

It changed the way Snapchat users view their friends' stories, and put a new emphasis on stories posted by celebrities and news organisations.

In a much rather detailed analysis, the shares of Snap Inc. declined further in its recent trades.

The verdict was especially damning given that Jenner was "one of the first wave of celebrities whose fame grew primarily on Snapchat", says The Guardian.