Evan Spiegel Net Worth

What is Evan Spiegel Net Worth?

Evan Spiegel Net Worth is US$ 2.9 Billion as of January 2023. 

Biography

An American Internet entrepreneur named Evan Spiegel co-founded the image messaging and multimedia smartphone app Snapchat. Also, he leads Snapchat Inc. as CEO. He was fortunate to grow up in a wealthy family and receive a weekly allowance of US$ 250. He was born in Los Angeles, California. He developed a reputation as a nerd in high school due to his early interest in technology. He received his education at the Santa Monica Crossroads School for Arts and Sciences before being admitted to the esteemed Stanford University. He first met Bobby Murphy and Reggie Brown at Stanford, two other students who would later join together to start Snapchat.

Spiegel was a product design major and the prototype for Snapchat was started by him and Brown as a project for his classes. Gradually he became more interested in developing the prototype due to which he dropped out before completing his degree. Along with Brown and Murphy, he launched the mobile application in 2011. This app over the years registered phenomenal growth, making the young man a billionaire. Eventually Brown moved away from the project. Spiegel is known for being a demanding boss; many of his employees hardly last a year in his company. But his refusal to settle for anything less than perfect is what majorly contributes to his company’s tremendous success.

Early Life  

Evan Thomas Spiegel was born in Los Angeles, California, on June 4, 1990. His parents, John W. Spiegel and Melissa Ann Thomas are both lawyers. He was raised in a very wealthy family and received a monthly allowance of US$ 250. His parents ultimately divorced. When he was a teenager, he begged his father to purchase him a new BMW. And when he declined, he moved home with his mother in protest. She rented the US$ 75,000.00 car. In his privileged life as a youngster, he learned to never take “no” for an answer. He attended Crossroads School for Arts and Sciences in Santa Monica.

He also attended studies at the Pasadena Art Center College of Design and Otis College of Art and Design while still in high school. He used to tinker with Photoshop while still a student and held an unpaid internship in sales at Red Bull. After graduating from high school, he enrolled in the esteemed product design department at Stanford University and was welcomed into the Kappa Sigma fraternity. Bobby Murphy, a fellow student he met, paid Spiegel to create an online social network that was modeled after Google Circles. Nonetheless, this endeavor was unsuccessful.

Career

Evan Spiegel persisted and went on to create Future Freshman, an online application designed to assist college counselors, parents, and high school students in managing the college admissions process. This was his first initiative. The project got off to a good start, but it ran into problems and was quickly abandoned. During this time, Spiegel and Murphy met Reggie Brown, another student. The three would end up producing results from their cooperation. Brown had the concept for a disappearing-picture app, and Spiegel chose to develop a prototype for one of his students based on this idea. As soon as Murphy joined in, the three young men started working on the prototype. “Picaboo” was the original name given to the idea. At first, Spiegel’s students made fun of his final presentation because they thought the concept of transient photos was impractical.

In September 2011, the program was re-released under the name Snapchat. The Snapchat team first concentrated on usability and technological factors, and the software quickly developed into a picture messaging and multimedia mobile application. By November, users had shared over one billion photos on the Snapchat iOS app, with 20 million photos being shared each day. In 2012, 25 images were being transmitted on Snapchat per second. At about this time, Brown quit the company. The addition of more recent features, such as the “My Story” function and the ability to converse via video chat, increased the app’s appeal on a global scale. Throughout the years, the business expanded astronomically, and in 2016, Snapchat reached 10 billion daily video views. It was the most downloaded app in 28 different countries by April 2016.

Favorite Quotes from Evan Spiegel

“Someone will always have an opinion about you. Whatever you do won’t ever be enough. So find something important to you. Find something that you love.” 

– Evan Spiegel

“Having been bullied growing up, it’s something that’s really near and dear to my heart. You probably won’t have many friends on Snapchat if you’re being a jerk.” 

– Evan Spiegel

“One of the things I’m trying to get better at is apologizing when I make mistakes. That’s been a big priority of mine.”

– Evan Spiegel

“It’s not about working harder; it’s about working the system.”

– Evan Spiegel

“It’s important to be thoughtful and mindful about the things you say to other people.”

– Evan Spiegel

“People are going to copy your product if you build great stuff. Just because Yahoo has a search box doesn’t make it Google.”

– Evan Spiegel

Frequently Asked Questions

Summary

Evan Spiegel, who was born in 1990 in Los Angeles, California, is the co-founder and CEO of Snap Inc., the organization that owns Snapchat. With former fraternity member Bobby Murphy, Spiegel came up with the concept for the well-known photo and video-sharing app while they were both students at Stanford University. The software, which was first introduced in 2011 under the name Picaboo, gained popularity the following winter, and, when Snap went public in early 2017, turned its co-founders became billionaires. A second reason for Spiegel’s fame is his union with Australian beauty Miranda Kerr. Evan Spiegel Net Worth is US$ 2.9 Billion as of January 2023.