TechCrunch managed to get their hands on an internal email which also confirmed that the sale of the patent to Snap was the highest amount paid for any single patent in Israel.
The patent sale marks a big milestone for Mobli.
"In continuation with our email below", the mail reads, "we are happy to let you all know that the transaction of selling our "Location based filters" patent to Snapchat was closed, and the $7.7M' consideration was received".
The patent - US#20160373805, US#9459778 - describes methods and systems of providing visual content-editing functions.
As of now, there have been no comments from Moshe Hogeg on the matter.
Wounded vet crosses finish line in Boston Marathon
But today, women have their own starting line and are regular participants in a race that once kept them locked out. Shockingly, it would be another five years before women were officially allowed to compete in the Boston Marathon.
The location-specific filters were provided on the server side, allowing the company to provide different filters without the app itself having to update. For instance, Snapchat recognizes sponsored campaigns by Wendy's and Starbucks which use Sponsored Geofilters and create value for the advertiser.
However, other Silicon Valley sources poured scorn on the idea that Facebook had even been offered the patent, with one source familiar with both companies commenting that Mobli wasn't on the radar of local power players.
TechCrunch understands that Mobli first spoke to Facebook about selling the patent.
Snap just bought a patent from one-time Instagram rival Mobli. Facebook "100% wanted it", according to one source.
"After we saw the popularity of the Geofilters product, we opened the creation process to our community, who now create many Geofilters for all sorts of public and personal places and events. On average, more than a billion Snaps with Geofilters are viewed on our application every day", the company said in a filing.