Snap reportedly buys geofilter patent that could protect it against Facebook

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.
Snap’s decision was reportedly to protect itself from lawsuits
The patent allows for location-based filters to