Snap reportedly buys geofilter patent that could protect it against Facebook
The Verge -------- Snap has reportedly signed a deal worth $7.7 million to get its hands on a patent for geofilters— the localized filters whose sale to advertisers provides the company with a chunk of its revenue. TechCrunch reports that Snap obtained the patent (titled: Methods and systems of providing visual content editing functions) from Mobli, an Instagram rival that launched in 2011. The patent allows for location-based filters to be created and distributed on the server side, meaning that the app doesn’t have to be updated with each new filter. The sale was orchestrated by Mobli co-founder Moshe Hogeg, TechCrunch says, and confirmed in an email sent to Mobli’s shareholders. Snap’s decision to go through with the purchase was reportedly motivated by the desire to protect itself from any future lawsuits, as geofilters mark one of Snap’s four primary sources of income. To learn more click on the picture below to read the article.