Snapchat buys patent worth â¹50 crore from Instagram rival
Snapchat has reportedly purchased a patent for the 'Geofilter' feature by paying nearly â¹50 crore to Mobli, a rival of Facebook-owned photo-sharing app Instagram. This is believed to be the highest amount paid for a patent from the Israeli tech industry. According to the report, social media platform Facebook was also interested in purchasing the same patent.