Shares in Snapchat’s parent company have hit a record low after its results revealed the cost of a backlash against a redesign of the social messaging app. Snapchat started its first major redesign late last year and by February more than 1.2 million users had signed a petition calling for it to reverse the “annoying” changes. On Tuesday, the user backlash against Snapchat, known for its disappearing messages and photograph filters, affected the company’s first quarter results, which missed targets. Snapchat also issued a growth warning saying the redesign fallout would mean a substantial slowdown in revenue in the current quarter. Snapchat reported 191 million daily active users in the first quarter, missing expectations of 194.15 million.

Source: The Guardian May 02, 2018 16:18 UTC