Snapchat is dying and has pushed most of it’s faithful users to Instagram.
Soon after Snapchat’s newly redesigned app, they received major backlash that they did not expect. Most users found the new update difficult to navigate and wanted the old Snapchat back.
83 percent of App Store reviews for the new update are negative with one or two stars. Just 17 percent of the reviews, give it three to five stars.
More than 800,00 people have signed a petition to reverse the update. But that did not make them change their mind.
Snapchat’s response regarding the negative criticism is that “Updates as big as this one can take a little getting use to, but we hope the community will enjoy it once they settle in.”
As a result, this redesign led to a loss of $443 million.
Snapchat took another huge blow, when social media influencer Kylie Jenner tweeted, “so does anyone else not open Snapchat anymore? Or is it just me…ugh this so sad.”
Snapchat’s stock was at $19.02 before Jenner tweeted. It immediately began to fall soon after she declared she was done with Snapchat.
Their stock has continued to drop by over 6 percent and still continues to drop. That adds up to a roughly $1.5 billion loss in market value for Snap.
On Thursday, March 15, Snapchat’s stock dropped another 5 percent after artist Rihanna called them out for creating an ad that mocked her domestic violence incident with then-boyfriend Chris Brown back in 2009.
Roughly 71 percent of Snapchat users are under 34 years old and 70 percent of Snapchat users are female.
There’s no doubt that some of the most influential women in social media, like Kylie Jenner and Rihanna have made an impact on the life of Snapchat. This will not be the only error Snapchat will make in the near future.