Or just blind coincidence?
Snapchat's parent company Snap (NYSE:SNAP) lost $1.3 billion - roughly 6 percent - in stock market value on February 22 after reality TV star Kylie Jenner tweeted to her 24.5 million followers on February 21 that she no longer used the instant messaging app. What's curious about the massive stock market drop is that it came just a day after Kylie Jenner, one of Snapchat's most prolific users, seemingly declared the app was over.
Jenner published the tweet following Snapchat's much-maligned redesign last week. Over 1.2 million people have signed a petition on Change.org asking Snapchat to remove the redesign. "Obviously what Kylie Jenner was reacting to was the redesign of the app, which makes it easier or at least makes it possible for Snap to try and monetize the business".
Jenner doesn't explicitly say in her tweet why she's no longer opening the Snapchat app, though we assume it's because she doesn't like the redesign. The star hid her pregnancy from fans, announcing the birth of her daughter three days after she was born. In two weeks it amassed 59 million views. But is it fatal?
Once a staple of every person's social media arsenal, Snapchat is now struggling to continue to keep up with changing trends in our everyday use.More news: Burns values TOUR experience at The Honda Classic
More news: Watch Ester Ledecka make history, win gold medals in two different sports
More news: Francis calls off school due to alleged threat
Matthew DiGirolamo, chief communications officer at Maybelline parent company L'Oréal United States of America, shared an emailed statement with the Journal that emphasized the company's "strong partnership" with Snap Inc., the parent company of Snapchat.
"People are part of communities: If your friends are still there, you need to be, too".
Snapchat is facing intense pressure from Facebook and the line of apps in its ownership - including WhatsApp and Instagram - which have adopted Snapchat-like features in recent years to try and entice users to switch services.
"Instagram has, to some degree, stolen some of Snap's customers away for a more educated and graphical experience", said Hewitt.
Snap's response? To remain ignorant of what their users demanded. "Major users complaining publically, it seems". If you don't have the functionality and the trust of the users, what do you have?