Oh Snap

Who knew celebrities were so powerful? Kylie Jenner tweeted tat she was "soo over" Snapchat because of the new update, and well, it's kind of working. Snap shares have dipped, and the company has lost over a billion. Now, it's back to its original $17 shares since when it went public, which is not a good sign.

Snapchat made a huge mistake with its new update that has left millions infuriated. It has refused to change it back to the original format, and as a result people are downright giving up on it. I guess this a dual lesson here: don't try t o make yourself so "fresh" that you lose people, and watch out for famous people because they can knock off a lot of money. a billion dollars off of a company? That's insane. Honestly, that kind of power is kind of scary.

Remember how investors and basically everyone were talking about how it's a risky company that can easily rise and fall? Well, now you have it. It'll take a lot for Snapchat to gain good footing again. This loss isn't crippling, but it is a warning sign to tech and media companies. It's been a year for Snapchat and shares are back to where they were, so definitely not good.

It doesn't help that Snap is competing with other companies like Facebook that are able to make successful changes and transitions without succumbing to the influence of other powerful people/ entities.

http://www.bbc.com/news/business-43163544