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Snap buys key patent to secure the future of its geofilters
Mobli, an Israeli company, patented the idea of adding filters to photos based on your location back in 2012, way before Snap started using them. Now TechCrunch says the ephemeral messaging app has purchased that patent for $7.7 million in order to make sure it won't ever have an issue offering geofilters to its users. They're some of its most popular offerings, after all, and were apparently responsible for $360 million of the $400 million revenue it posted last year. We're guessing $7.7 million was a small investment to make to secure the future of the company.
