Unicorn Analysis #2: Snapchat

Background:

Current Estimated Valuation: $10+ Billion
# of Patents Owned: 2 + many pending/active
Competition: Facebook/Instagram, Vine, Mojo, Twitter, Periscope, etc

Patent Detail #1

This is Snapchat's first patent that they filed in August 2012 and was published April 2013. 

Title: "Single mode visual media capture" Essentially this is for the camera function that allows it to snap very quickly- the tap and hold feature. 
Issues: A company named Mojo Media filed a near-identical patent a few weeks after Snapchat. They are currently in litigation with Snapchat due for a "patent interference proceeding". As of late 2015, they are still in litigation sorting this patent.

Patent Detail #2

Snapchat filed for this patent in November 2014. 

Patent Details "could let users unlock photos and messages from friends if they're standing in just the right spot". This is currently being filed and has not been issued as of yet. 

Competition/Other Issues:

Clearly, other companies within social media want to get into Snapchat's area. Particularly, Facebook which has a large user base, high revenue, and wants to better monetize on social media.

Sources:

http://techcrunch.com/2013/06/21/snapchat-has-a-patent-that-could-help-it-become-the-defacto-camera-app/

http://techcrunch.com/2014/08/14/snapchat-patent/

http://pdfpiw.uspto.gov/.piw?PageNum=0&docid=09015285&IDKey=9F45B35AA8E0&HomeUrl=http%3A%2F%2Fpatft.uspto.gov%2Fnetacgi%2Fnph-Parser%3FSect2%3DPTO1%2526Sect2%3DHITOFF%2526p%3D1%2526u%3D%2Fnetahtml%2FPTO%2Fsearch-bool.html%2526r%3D1%2526f%3DG%2526l%3D50%2526d%3DPALL%2526S1%3D9015285.PN.%2526OS%3DPN%2F9015285%2526RS%3DPN%2F9015285

http://www.google.com/patents/US8428453