Snapchat is partying in style to ring in 2018! Word on the street is Snapchat CEO Evan Spiegel has splurged $4 million dollars on the company’s New Year’s Eve party!
According to TMZ, it cost millions to rent out L.A. live and shut down multiple venues Microsoft Theater, Lucky Strike, Conga Room and Wolfgang Puck Bar & Grill. The spending doesn’t end there — Spiegel is also flying in various Snapchat employees from all around the world, according to reports.
Snapchat has secured proper permits to host up to 5,000 guests at an event with a 105-foot DJ tower, complete with pyrotechnics. The area will also be secured with 2 full street closures. It’s like a mini Times Square in LA, just for Snapchat employees.
Apparently Drake is scheduled to perform, among others.
Snapchat wouldn’t confirm the Drake part, but did release a short statement: “We’re excited to celebrate a transformative year as a team. Evan is personally sponsoring the night’s performance.”