By July, shares were down 30% and shaved billions off Spiegel's net worth. At one point, his net worth topped $5 billion.
Snapchat rebranded itself Snap and went public in March 2017, making Spiegel a multi-billionaire. By the end of 2012, Snapchat had one million daily active users.īy 2014, Spiegel was a billionaire. The following year, Spiegel left Stanford and returned to Los Angeles to work on Snapchat. He worked with fellow Stanford student Bobby Murphy and Reggie Brown to launch Picaboo, which they later renamed Snapchat. His classmates ridiculed him and his idea but Spiegel was determined to see it through. In April 2011, he proposed an app with disappearing messaging in one of his product design classes. Spiegel studied product design at Stanford. He also spent some time in Cape Town, South Africa working as a career instructor. He had a paid internship at a biomedical company and at Intuit. The summer before he left for college he took classes at Pasadena's Art Center College of Design and had an unpaid internship in the sales department of Red Bull.Īfter his K-12 experience at Crossroads, Spiegel headed north to Palo Alto and Stanford. While Spiegel was in high school he took design classes at the Otis College of Art and Design. Other alums of the school include Zooey Deschanel, Jonah Hill, Jack Black, Michael Bay, Gwyneth Paltrow, Maya Rudolph, and a trio of former reality stars – Whitney Port, Spencer Pratt, and Stephanie Pratt. Crossroads is a private school that is popular with the entertainment industry crowd. He grew up in posh Pacific Palisades and attended the Crossroads School for Arts and Sciences in Santa Monica. Yes indeed, it must be good to be Evan Spiegel. He's got $2.5 billion reasons to smile and he's not even 30 yet. Along the way, Spiegel also managed to become a billionaire, fall in love with and marry a supermodel, have two kids, and buy a $12 million, 7,164-square-foot house that was previously owned by Han Solo himself, Harrison Ford. A lot of hard work and sacrifice goes into a successful startup. One person that has benefitted greatly from Snap's popularity is its founder Evan Spiegel. It wasn't all that long ago that the app was the hottest thing out there. It seems like it's been a while since Snap or Snapchat or whatever it's calling itself these days has made big news.
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