If you think you overspent on your NYE partying last night, spare a thought for Snapchat CEO (and Miranda Kerr‘s husband) Evan Spiegel, who is reportedly coughing up USD$4 million (AUD $5.1 million) on a New Year’s Eve party for his company’s employees. Kinda make you feel better about going into debt last night, no?

Word on the street (or more specifically, TMZ) is that Spiegel, 27, is closing down part of downtown Los Angeles in order to throw the extremely extra bash. He’s reportedly booked out the Microsoft Theatre and some iconic establishments in Microsoft Square, including Katsuya, Lucky Strike, and Wolfgang Puck Bar & Grill.

The outlet claims that they’ve obtained the permits filed by the tech company, which will allow 5,000 people to attend to event. Spiegel is apparently flying in Snapchat staff from all over the world to come and party in the USA.

TMZ says the employees will be treated to a pyrotechnics display, and a DJ will play the event from a booth 32 metres up in the air. Rumours are also swirling that superstar Drake will be dropping in for a surprise set.

While a Snapchat spokesperson wouldn’t confirm or deny the Drake talk, they did tell TMZ that Spiegel is paying for the entertainment himself, saying: “We’re excited to celebrate a transformative year as a team. Evan is personally sponsoring the night’s performance.” 

Certainly makes the awkward cheese and wine arvos put on by your boss seem more than a little shithouse.

Image: Getty Images / Stefanie Keenan