Spiegel has consistently pursued what Moe describes as a "contrarian streak." "That's the bet with Evan - that his ability to re-imagine media despite the naysayers will be a catalyst for the company to continually reinvent and renew its opportunity," Michael Moe, founder and CEO of GSV Capital, an investor in Snap, tells CNNTech. Now, "pictures are being used for talking." "Historically, photographs have always been used to save really important memories," Spiegel said in an explanatory video in 2015. It could also be about "instant expression" with those closest to you. Spiegel offered a different take: Social media was no longer solely about creating a public identity built from posts of everything you've ever done. Many wrote off Snapchat as a tool for sexting. Even stranger, Snapchat posts disappeared. That ran against the standard of using social media to broadcast your life and thoughts to everyone you know (and some you probably don't). With Snapchat, Spiegel bet on the allure of sharing more posts with fewer people. except my mom." Less than three years ago, he reportedly moved out of his dad's house and got a place of his own. Just six years ago, Spiegel was working on a failed startup called Future Freshman, which he later said was used by "no one. Related: Snapchat's IPO has a Twitter problem The big payday caps off the rapid rise of a secretive 26-year-old tech CEO who has bucked the common wisdom in Silicon Valley at every turn. Now, Spiegel's share of Snap may be worth more than that entire Facebook offer. The amount sounded extraordinary considering the messaging app was barely two years old and not making any money. To put that in context: Spiegel was widely rumored to have turned down Facebook's ( FB) offer to buy Snapchat for $3 billion in 2013.
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