Snap Inc (NYSE:SNAP) stated that the latest Snapchat update is going to stay. This comes as a response of the petition signed by as many as 1.2 million. The Change.org petition had around 1.22 signatures at press time, close to its target of 1.5 million signatures. Users were rebuffed as the firm officially confirmed its commitment to a new app update which was launched in early February.
Snap posted an official response on Change.org against a petition named “Remove the new Snapchat Update.” The Snapchat team stated that they completely understand the new update has felt uncomfortable for several users. However, the app will adapt to each Snapchat user and get smart over time. The company has also launched a next update to the Snapchat, wherein there will be tabs in both Discover and Friends to make it easier for app users to sort through distinct stories. In fact, users can clearly distinct content from brands and celebrities, and people they know.
Snap CEO Evan Spiegel stated that they had been thinking about the app redesign for a long time because they were unsatisfied that when they looked at the app, both sides appeared the same. They are thrilled about what they are seeing so far. Even the criticisms they are seeing underpin the philosophy. The frustrations they are seeing really confirm those changes.
The problems have increased more for company after Kylie Jenner tweeted to her more than 24 million followers that is she just her or there are others who don’t open Snapchat anymore. The likes on Jenner tweet clearly shows that people are not in support of the latest update.
In the last trading session, the stock price of Snap declined more than 6% to close the day at $17.51. The decline came at a share volume of 51.77 million compared to average share volume of 33.39 million.
THE MORNING REPORT
Start your workday the right way with the news that matters most.