If you have been using the photo- and video-sharing app Snapchat for a while, then you know at least who Evan Spiegel is. He is none other than the co-founder and CEO of Snap Inc., which is the name of the said flagship app. Born in 1990 in Los Angeles, California, Spiegel is the brainchild behind the idea for its product which he developed while attending Stanford University with the help of Bobby Murphy. The app, which was initially named Picaboo, was released sometime in 2011 and has since then accumulated steam. It was only a matter of time before its co-founders became billionaires when Snapchat went public in early 2017. If you are wondering about Evan Spiegel’s net worth, below is a more detailed breakdown.

 

 

What Is Evan Spiegel’s Net Worth?

Entering 2018, the Snapchat co-founder had an estimated worth of around $3.2 billion by Forbes. This was largely based on his 18 percent ownership in the very company he co-founded. Eventually, it marked a significant drop-off when the company decided to go public in March 2017. At that time, it closed its first day of trading, which reportedly had around $24.48 per share and was even up 44 percent from its IPO Snap. This resulted in Spiegel amassing 37 million additional shares, and thus led to his net worth hitting nearly $5.5 billion. As of this writing, however, Evan Spiegel’s net worth sits at $2.5 billion.

 

Snapchat and Evan Spiegel’s Net Worth

Evan Spiegel’s net worth is mostly the result of snapchate

 

Below are some interesting facts about Evan Spiegel:

  • He became the youngest public company CEO when Snap started trading during the aforementioned date.
  • His co-founder Bobby Murphy was actually his former fraternity brother in Stanford University.
  • Spiegel and Murphy each own about 18% of Snap. However, they still have voting shares that enable them to gain control over the board.

 

There are approximately 170 million people who use Snapchat. These are mostly teens and millennials, all of whom use the app to send disappearing messages.

 

Snapchat Founding at Stanford

Evan Spiegel became part of the Kappa Sigma fraternity at the aforementioned university, the same institution where his future Snapchat CTO Bobby Murphy. The duo decided to collaborate on some few other projects, which included a college admissions website called Future Freshmen. Apparently, they decided to abandon it later on. It was in the spring of 2011 when the idea to create Snapchat surface. This was after Reggie Brown, another Kappa Sigma brother, mentioned about his desire to send disappearing photos. Spiegel, without hesitation, seized on the idea and recruited Murphy (who already graduated at that time) to join the project.

 

The three went on to camp out that summer at Spiegel’s home in Pacific Palisades. They together build a business that had designated roles: Spiegel helm the CEO and designer role, Murphy took the CTO and developer sits, and Brown became their chief marketing officer. Although the app was yet to reach its full potential, the three decided to launch an early version of it and called Picaboo. The latter gave users the ability to send photos that could quickly disappear while revealing and then erasing any trace of evidence of illicit activities.

 

Apparently, in August, the original promise of the project was stained following a squabble. Both Murphy and Spiegel ousted Brown, as they moved forward with a new app name called Snapchat. Although sales did not immediately go high, something clicked as soon as winter came. The app managed to achieve a total user count of 20,000 in January 2012. This even went high in April of the same year, after accumulating about 100,000 users. It was revealed that the surge in demand became the catalyst for a massive increase in server bills. Fortunately, the two founders were saved after a whopping investment of $485,000 came courtesy of Lightspeed Venture Partners in the following month. Just a few weeks shy of his graduation, Spiegel decided to drop out of Stanford to focus on his companyץ

 

 

Marriage

One could say that Evan Spiegel’s net worth is very desirable, but this is nothing compared to his marriage with Miranda Kerr. Yes, that is right – Spiegel’s significant other is none other than the titular Australian supermodel. He is definitely enjoying a rock star lifestyle, so to speak. The two got engaged in July 2016 and, later that year, bought a house in the high-class L.A. neighborhood of Brentwood. They finally exchanged “I Do’s” in their backyard in May 2017.

 

Kerr appears to be an enthusiastic supporter of Spiegel’s company. When announcing their engagement, she used the app’s very own Bitmojis to reveal the news on Instagram.  She even went to slam Mark Zuckerberg’s Facebook for allegedly stealing her husband’s ideas. In November 2017, the couple announced that they were expecting their first child. Apart from modeling, Kerr also owned a cosmetic line called Kora Organics. It is safe to say that the 35-year-old is somewhat wealthy in her own accord, as she has an estimated worth of $45 million.

 

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