Transcript for Snapchat stock dips after celebrity's tweet
Now to that new fallout for Snapchat, the app that's popular with teens recently underwent a redesign that left many users unhappy including kylie Jenner. A single tweet from the reality star did not help the company stock. Rebecca Jarvis is here and, Rebecca, that tweet wiped out more than a billion dollars in value. Unbelievable, right, Michael. Snapchat has 187 million daily active users, many of them between the ages of 18 and 24 years old and when the queen of snap herself, kylie Jenner, speaks or posts or tweets, you can bet they're listening. This morning it turns out wall Street is listening too. ??? I don't know what it's like to live a Normal life. Reporter: She's the 20-year-old multimillionaire makeup mogul who presighs over a social media empire. Documents almost every aspect of her life on Instagram and Snapchat. In order to like stay relevant for the public I have to be on Instagram and I have to be on Snapchat. Reporter: But this morning, the life of kylie left it plummeting thanks to her one tweet to her 24.5 million followers. So does anyone else not open Snapchat anymore? Or is it just me? This is so sad. In the hours following her tweet shares fell more than 6% Thursday. Wiping out more than a billion dollars in value. Oh, snap. The backlash coming on the heels of a major redesign on the platform announced by Evan Spiegel, the billionaire Snapchat co-founder and CEO married to supermodel Miranda Kerr. One complaint we heard from social media photos and videos from your friends are mixed in with content from publishers and creator and your friend aren't content, they're relationships. That's why today we're separating the social from the media and reorganizing it around your relationships to make it more personal. Reporter: Those changes leaving some users fuming complaining the redesign is confusing and harder to use. Even inspiring a change.org petition to remove the new update garnering more than a million signatures. A Snapchat spokesperson telling ABC news our goal with the recent redesign is to make Snapchat more personal for everyone. This new foundation is just the beginning, and we will always be grateful for any feedback from our community as we roll out new products. Wild to see how much impact an off the cuff tweet can have. Kylie tweeted ten minutes later, still love you, though, snap. My first love. The stock is up 20%. I got to stoch you. You believe it was off the cuff? I do. I actually -- I actually -- I think that probably she thought this might have an impact but she didn't recognize it would have an impact on the stock. We saw Evan Spiegel in the piece trying to give directions. What can you tell us about the changes? He's committed to the changes as they are right now but there are some new features they're rolling out that should make it easier to find friends' stories. One interesting point. He says the biggest issue that people have raised in this to him is that they used to feel like a celebrity was my friend and now they don't feel like their friend anymore. He says, exactly. They're not your friend. Wow. Okay. Kylie is not your friend. Breaking a lot of hearts. A lot of hearts right now,
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