What Companies Does Evan Spiegel Own?

Who is Evan Spiegel?

Evan Spiegel is an American businessman best known for his role as CEO and co-founder of social media company Snap. Spiegel founded the organization, then called Snapchat, in 2011 alongside his fraternity brothers while attending Stanford University. In 2015 Evan Spiegel was named the world's youngest billionaire, crossing the threshold at 25 years old.

Now, Snap is regarded as one of the most successful communication apps and Spiegel has become widely known for making smart business decisions and retaining Snap’s freedom along the way. With such a strong business acumen, it's common to wonder – what other companies does the tech mogul own?

What companies does Evan Spiegel own?

Technically, Evan Spiegel is only the CEO of one company: Snap. He owns 13% of the company while co-founder and Chief Technology Office Robert Murphy owns 15%. However, since Snap’s inception it has acquired 17 companies, giving Spiegel ownership over them all. Let's explore the organizations he oversees.

Snap

Snap is the umbrella company under which all of Spiegel’s acquired organizations sit. In 2011 the social media company widely known for its disappearing photos and videos launched under the name Picaboo. Later that same year, the app’s name changed to Snapchat. By 2012 Snapchat had already scaled rapidly, prompting Spiegel to drop out of Stanford credits shy of graduating to take over the business full time. The organization relocated to Venice, California and by 2013 it had a valuation of $800 million.

Snapchat's rapid growth caught the attention of Facebook’s Mark Zuckerberg, who attempted to acquire the company for $3 billion. Later, Google also tried to purchase the company for $4 billion. Spiegel wisely turned down both offers. In 2016, Spiegel renamed the organization Snap and rebranded as a “camera company.” Snap went public in March 2017 at a valuation of $33 billion.

Read more: Inside the Org Chart at Snap

Snap's constant innovation wouldn't be possible without the companies it acquired overtime which helped it to launch new features in the areas of augmented reality, e-commerce, communication and more. Below we have highlighted some of Snap’s most notable acquisitions.

Looksery

Snapchat was one of the first social media apps to popularize filters and face modification features, and this was made possible by its integration with Looksery. Founded in 2013, Looksery allowed users to video chat with face-altering filters that could do everything from turning them into a monster to removing blemishes from the skin. Snap acquired Looksery in 2015 and soon after it launched a new feature for animated selfies called “Lenses.”

Vurb

In 2016, Snap purchased mobile search startup Vurb for $200 million in a stock and cash deal. Vurb was founded in 2011 as an experiential search engine that allows users to browse places, book reservations and share findings with friends all in one app. Snapchat’s acquisition of Vurb has combined its location features with its social sharing concept, enabling users to seamlessly organize a night out with friends.

Bitstrips

One of Snap’s most popular features are the personalized emojis and stickers users can make of themselves, called Bitmojis. Bitmoji was created by a comic strip company called Bitstrips in 2014, as a seperate app for personalized stickers to be sent in messages. In 2016, Snap acquired the company for $100 million, and shortly after began implementing its own sticker features. Although Bitstrips is no longer in operation, Bitmoji is still available as its own app.

Zenly

After social apps like Facebook and Instagram copied Snapchat’s concept of “stories,” Snap needed a new innovative product to set them apart. Enter Snap Map: An interactive map that allows users to keep up with friends on the app or discover events from all over the world. One reason this feature was made possible is due to Snap’s acquisition of Zenly: the social mapping startup that uses GPS to show you where your friends are. According to Techcrunch, Snap acquired Zenly in 2017 for between $250 and $350 million. Zenly continues to be an autonomous organization.

AI Factory

In 2019, Snap paid $166 million to buy AI Factory, another video modification app made by the same creator of Looksery. AI Factory is a computer vision startup that allows users to insert their face into 150 different video clips. This acquisition provided Snap with the software to power their Cameos feature, where users can insert their selfies into funny clips.

Fitanalytics

Snap paid $124 million to acquire Fitanalytics, a Berlin-based startup using technology to help online shoppers find the right-sized apparel and giving retailers the tools to sell better. This acquisition took place in March 2021 and will be used to further add e-commerce services and tools to the social app.

Waveoptics

One of Snap’s most expensive acquisitions was Waveoptics, which it acquired in May of 2021 for $500 million. Waveoptics is a company that creates lenses and other optical parts of augmented reality eyewear. Shortly after the acquisition, Snap revealed a first look at their very own AR spectacles. Originally founded in 2014, Waveoptics is now a wholly owned, independent subsidiary of Snap.

This acquisition isn’t Snap’s first foray into wearables. Snap attempted to make waves in the optical market back in 2016 with camera equipped sunglasses but unfortunately, the product had little success. Now, in partnership with Waveoptics, Snap has asserted itself as another tech giant planning to take over the AR/VR space in upcoming years, alongside Meta and Apple.