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Report: Snapchat CEO drops $4 million on venue for epic New Year's Eve bash

FILE - In this Thursday, Oct. 24, 2013, file photo, Snapchat CEO Evan Spiegel poses for a photo in Los Angeles. Tax-filing season is turning into a nightmare for thousands of employees working at companies tricked into relinquishing tax documents exposing people?s incomes, addresses and Social Security numbers to scam artists. In fact, in a Feb. 28, 2016, post on its corporate blog, Snapchat revealed that its payroll department had been duped by an email impersonating Spiegel. (AP Photo/Jae C. Hong, File)

Snapchat CEO Evan Spiegel has spent about $4 million dollars to rent out part of Los Angeles for the company's New Year's Eve party, TMZ reported Sunday.

The social media mogul has bookmarked infamous venue L.A. live, shutting down Microsoft Theater and even multiple venues nearby -- including Lucky Strike, Conga Room and Wolfgang Puck Bar & Girl -- to serve as the backdrop as employees ring in 2018.

Company members from around the world will be flown in, according to TMZ.

In fact, Snapchat has obtained permits to host as many as 5,000 guests.

Drake is rumored to be making a surprise appearance.

Though Snapchat would not confirm the whispers, they did issue a statement:

"We're excited to celebrate a transformative year as a team. Evan is personally sponsoring the night's performance."

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