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They recently purchased a home worth $16 million together in Los Angeles, and he’s got the tick of approval from her ex-husband and five-year-old son.

So after a year of dating, there’s no reason why Snapchat founder Evan Spiegel wouldn’t be thinking of popping the question to Miranda Kerr.

A new report by The Sun claims the 26-year-old American tech entrepreneur – who Forbes believes to be worth US$2.1 billion – has been shopping for a rock to put on the finger of his 33-year-old supermodel girlfriend.

“He’s ready to take the next step” the insider said. “They are both completely smitten and Evan’s starting to look at rings.”

Whether Spiegel really is shopping for a ring or not, the fact the couple bought a house together means Miranda looks set to stay with one of the most influential people in tech. Snapchat has evolved from a frivolous app used mainly for sending funny faces (or more illicit pics) to a commercial success worth around US$20 billion.

“He’s 25, but he acts like he’s 50,” Miranda recently told The Edit.

“He’s not out partying. He goes to work in Venice [Beach]. He comes home. We don’t go out. We’d rather be at home and have dinner, go to bed early.”

In the same interview, she confirmed that Spiegel had met son Flynn from her marriage to Orlando Bloom, a sure-fire sign as any that he’s, well, in like Flynn.

“[Orlando and I decided] that we had to know the person for six months and feel good about them,” she said. “Evan met Flynn, so yeah, things are going well. Orlando thinks he’s great. We’re just a modern family now!”

With almost 10 million followers on Instagram and worth about $50 million herself, Miranda and Evan look set to be one hell of a power couple.