Now I think it’s safe to say the Snapchat redesign that happened earlier this year did not go down well with their user base, especially the ladies. However in response the company did say the new design would grow on users and backed their decision with various user growth and financial statistics. However last week Snapchat’s shares hit an all time low of $10.52, less than 48 hours after the company reported their disappointing first-quarter earnings.
Jacob Helfstein, an analyst for Oppenheimer, said in a note to clients this week. “We continue to believe SNAP garners high user loyalty and levels of engagement. However, most recent app redesign seems to have been “last straw” for some advertisers, who are now unlikely to give platform another chance absent significant daily-active-user reacceleration (no catalyst in sight).”
Snapchat have said their testing a new new design that would bring back elements of the version of Snapchat users preferred, however could this be too little too late? Facebook owned Whatsapp have boasted 450 million daily users of Whatsapp Stories, more than double that of Snapchats 191 million daily active users.