Snapchat Shares Plummet Over Failure With New Version
Mike Sanders / 2 years ago
Snapchat Shared Plummet As New Interface Fails To Win Over Fans
Earlier this year Snapchat, one of the most popular social media apps, decided it needed a little update. With it, a new version was launched. Pretty much immediately though, fans were not impressed. Although there were no massive changes per say, there was enough to make people deeply unhappy.
Such criticisms came from what was felt to be an unnecessary overcomplication of the app and in addition the change of the previous simple swipe function.
Despite many calls and even online petitions, Snapchats founders were pretty committed that they would not roll it back. They simply operated under the assumption that sooner or later, people would get used to it. Well, it seems that they have not. In a report via Telegraph, the share price of the company has fallen by roughly 17% as new user numbers drop off a cliff.
Should they have just rolled back?
It was a stalemate situation. The fans wanted the older version back and the company was stonewall refusing to do so. In such a situation there is often only one winner and that’s the people capable of using their digital feet and walking away.
Despite this, it seems that the app is still quite popular and the company even reported a slight increase in use over the first quarter period. The main issue with the share price drop would appear to be entirely focused on the brand’s failure to attract new customers. Snapchat has either annoyed too many people with this new version, or the company has simply hit a user wall.
What do you think? Do you use Snapchat? How did you feel about the update? In addition, have you recently stopped using the app and if so, why? – Let us know in the comments!