Evan Spiegel, the 24-year-old CEO/co-founder of Snapchat, is rumored to be a suitor for Scott Borchetta's Big Machine.

The tech entrepreneur, who was at one time rumored to be romantically involved with Big Machine's marquee artist, Taylor Swift, has previously expressed interest in getting into the music biz, and was seen schmoozing with Apple folk at Clive Davis' Grammy shindig.

Spiegel didn't exactly have a hardscrabble childhood; the scion of two lawyers, he grew up in So Cal's oceanside paradise Pacific Palisades. He was a student at Stanford when he co-founded Snapchat, a mobile messaging app designed to enable ephermal posts of text, images and videos, with Reggie Brown and Bobby Murphy. He subsequently became the company's chief exec. Snapchat's ghost logo underscores its unique value for users: their posts disappear, from both the feed and, ostensibly, company servers.

Snapchat users were sending 700 million "Snaps" per day as of May of 2014, and the company is said to be valued at $10-20 billion. Facebook, according to various reports, submitted multiple bids to acquire the company, offering as much as $4 billion, which Team Snapchat declined.

Forbes described Snapchat as "the greatest existential threat yet to the Facebook juggernaut," given its considerable cred among teens (the app's median user age: 18, whereas Facebook's is 40). The company has earned round after round of heavy-duty VC funding from firms like Benchmark and Institutional Venture Partners. The business model thus far has involved in-app transactions and advertising. Branded accounts also put cash in Spiegel's coffers.

He recently closed a deal with Warner Music to put videos on the service. Recent reports have said he's ready to fork over the $250 million or more (perhaps as much as $350m) for Big Machine. What would that entail for the very hot label? We'll keep you posted, if the story doesn't disappear.