In previous years, Mark Zuckerberg, founder of Facebook, was the world's youngest billionaire. But this year, Zuckerberg is replaced by Irwin Spiegel, founder of Snapchat.

Recently, Snapchat photo sharing application market value has more than 10 billion US dollars, the net assets of Spiegel, founder of Snapchat reaches $1.5 billion, thus Spiegel, just at 24, becomes the world's youngest billionaire. Similar to Facebook infancy, photo sharing application is for free, but its revenue outlook and space attract the investment of many investors.

Snapchat is a mobile communication software, the biggest feature is the "Burn After Reading", the message will be automatically burned in the following 10 seconds, leaving no records, and the software is also available to share information, photos and videos, and its main users are mostly young people from European and American countries.

Facebook wants to make acquisition of Snapchat at the price of $3 billion, and Google give the price of $4 billion, but both of them were refused. According to statistics, among the people aged 18 to 34, the app utilization rate reaches 33%. As a a high-profile new product, the app ranks third among US social software.