The co-founder of the mobile photo-texting app moved out of his father's multi-mullion dollar house in Pacific Palisades, a luxurious Los Angeles neighborhood, Variety reported, and has purchased a home of his own.
The new residence cost the Stanford dropout over $3 million, which was secured in an undercover off-market deal, sources confirmed with Variety. The 2,842 square feet home was purchased via blind trust, according to property records, and has recently undergone renovations.
The Spanish-inspired house is located in the well-to-do neighborhood of Brentwood, less than four miles away from Spiegel senior.
Last year, Spiegel turned down a $3 billion cash offer from Facebook and Google's follow up bid of $4 billion.