Snapchat CEO throws $4 million party on New Year’s Eve
SAN FRANCISCO: Snapchat might be facing a tough time due to intense competition from Instagram, but when it comes to partying, the company has no rival as its CEO Evan Spiegel spent $4 million for a massive New Year’s Eve bash in Los Angeles.
According to a report in TMZ, Spiegel shut down an iconic portion of Los Angeles to throw his employees a company party at L.A. Live entertainment complex.
The company rented out Microsoft Theater and every venue facing Microsoft Square — Katsuya, Lucky Strike, Tom’s Urban, Conga Room and Wolfgang Puck Bar & Grill — for the party.
Unconfirmed reports said that there was a surprise performance by rapper Drake.
“We’re excited to celebrate a transformative year as a team. Evan is personally sponsoring the night’s performance,” the company was quoted as saying.