While Snap shares took a beating Thursday, falling more than 6% and wiping out almost $1.3 billion of market value after its top user - reality star Kylie Jenner -- tweeted that she no longer uses the app, some investors actually laughed all the way to the bank. "Or is it just me. ugh this is so sad", she tweeted to over 25 million followers.
A recent redesign has also been cited as a factor in Snapchat's decline.
The redesign has not been popular and 1.2 million users have signed a petition asking the company to reconsider the change.
Shares in Snap, the app's parent company, closed 6% down on the U.S. stock market after Jenner's post.
Either way, some fans felt the need to check Jenner for her comments, and insist Snapchat was still very much worth keeping around. That possibility may now have some social media platforms running scared. She has 104 million followers on Instagram. In two weeks it amassed 59 million views.
Her tweets prompted replies from other users who said they no longer use the app as frequently. But is it fatal?
Snapchat responded to the controversy on Tuesday, Feb. 20, saying that while the company would not eliminate the update's major changes to the app, it will add several new features to accommodate what users think is amiss.
Did Kylie Jenner cost Snapchat $1 billion?
Hewitt went on to explain, "People are part of communities: If your friends are still there, you need to be, too".
"Instagram has, to some degree, stolen some of Snap's customers away for a more educated and graphical experience", said Hewitt.
But the company told The Guardian that the new design is here to stay. Shares have already taken a dive from this. Prior to the update, users could follow it like they would a friend, allowing for more organic, personal interaction-you know, the kind that fosters loyalty and product sales.