Snap acquires the crucial geofilter patent from Mobli for a record $7.7M


According to Snap’s S-1 Filing for its IPO, of the $400m in revenues the company has, $360 million is made by selling “Geofilters”, or photo filters based on location which advertisers can buy. So owning the patent on that concept would seem pretty crucial. But Snapchat has never had such a patent, until now.

Mobli, an Instagram competitor launched 6 years ago which failed to get ahead of its competitor, actually patented the idea of Geo-photo filters in 2012, after launching it the previous year.

But according to sources, serial entrepreneur and investor Moshe Hogeg, who co-founded Mobli, sold Mobli’s Geofilters patent to Snap this month for $7.7 million. This is believed to be the highest amount paid for a patent from the Israeli tech industry. The news was confirmed in an…

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