Evan Spiegel is none other but the mastermind behind the popular mobile application, Snap Inc., the parent company of Snapchat. He is also the CEO and co-founder of the same. The story behind Snapchat was not an easy one and probably a series of failures led to its way of success.
Spiegel was very good at Photoshop during schooltime. He entered Stanford University after passing out from his school and started to pursue program designing. Then he went into the Kappa Sigma fraternity, where he met his co-founder Bobby Murphy.
Born in 1990, in Los Angeles, California, Evan had developed the idea of creating a famous photo and video sharing app at an early age. Murphy hired Spiegel to design an online social network much like Google Circles. Although it was not a success, Evan’s attempt made him secure a job offer at txtWeb, which was a project to broadcast information from the internet over text messages.
Future Freshman was Spiegel’s first project under Murphy’s guidance which could manage and help in college admissions by counsellors, high schoolers and parents. The duo developed the idea of Snapchat and started working on it with Reggie Brown who was from the fraternity house.
Initially, the app was given the name; Picaboo. Later, Spiegel and Murphy formed their administration and after making several changes to this project, the app was finally renamed to Snapchat. It not only had some extra features but also attracted a wide variety of young users making it a billion dollar company.
Spiegel was awarded in 2013 and 2015 for his outstanding development for Snap Inc. By 2018, Spiegel’s estimated worth was $3.2 billion according to Forbes and Spiegel was subsequently with 37 million additional shares, pushing his net worth to $5.5 billion approx.
While Snapchat has certain limitations in its features, when rebranded to Snapchat Inc., in September 2016, it launched its camera-equipped Spectacles after two months. It secured revenue of $400 million for that year.
Later in 2017, Snap Inc. was further modified to meet the challenges by introducing advanced algorithmic filtering for content and by designing innovative products such as the recently augmented reality lenses.
Slowly, Snapchat emerged as a major tech company under Evan’s leadership. For him, life was never about making money or winning rewards and competition but it was about having a strong impact on the world and changing the way that people experience the world. The intellectual tech entrepreneur fought against the achieved timelines of other social media bases to let its users at any moment through temporary pictures, texts and videos.
As of June 2020, his net worth has reached around $4.8 billion. Today, Snapchat has acquired a brilliant position and presently ranks in the top 10 most popularly used apps in the world. Spiegel’s creation plays an important role in the lives of millions of users.
Evan Spiegel is a living proof that one’s determination and any idea from conception can transform into a successful venture can take one to any stage of success.