Snap responds to petition calling for it to scrap its redesign

Snapchat stock loses $1.3 billion after Kylie Jenner tweet

Jenner replied to a follower's tweet saying since the update she doesn't open it up as much as she used to.

Shares of Snap (SNAP) fell Thursday as the Snapchat operator received more heat from users over the recent redesign of its Snapchat app. The petition, which has managed to accumulate almost 1.5 million signatures since the update began rolling out, has finally received an official response from Snap (via BGR).

In a post on the Change.org page signed by a staggering 1.25m users, Team Snapchat acknowledges the despised update - which had users scrambling to install previous versions - has made some feel uncomfortable.

Snapchat said it will soon roll out tabs in the app's Friends and Discover sections to make it easier for users to find Stories, which are photos and videos shared by users that disappear after 24 hours.

It continues: "There is a general level of annoyance among users and many have chose to use a VPN [virtual private networking] app, or are using other risky apps or steps, to go back to the old Snapchat as that's how annoying this new update has become".

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The move by Cohan and company might be a bold power play to up AMC's offers for the actress' next contract. Or, alternatively, she could just walk away from it completely, given she'll have another show to work on.

A subsequent tweet makes it seem the reality star isn't done with it just yet.

Still, there is some hope for Snap: Following her bombshell tweet, Jenner confessed Wednesday afternoon that she still had warm feelings for the service.

"For a very long time, we have been trying to clarify, or at least distinguish, the difference between friends and publishers", Spiegel said in November. Her comment has been liked more than 2,000 times. It calls for Snap Inc.to reverse the design change while keeping some of the new features that have been added. Now, there's a designated page for publishers and celebrities, and a separate page for friends.

Standing out was CEO Evan Spiegel, who had been granted stock options worth a whopping $636.6 million a year ago following the company's IPO.

The response Snapchat's CEO Evan Spiegel delivered last week at the Goldman Sachs Internat and Technology Conference was that it would take time to adjust to new update but once you adjusted, it will be more interesting to use.

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