The Tech giant, Google has acquired Alter, an artificial intelligence (AI) based avatar startup. Alter working on using AI to generate avatars for social media users and brands to represent their virtual identities, Google procured the AI avatar developing company for $100 M.
According to TechCrunch, Google acquired the startup for around $100 million (approximately Rs. 8,22,87,700,000) to step up its content game as it seeks to take on TikTok and compete with them to acquire the AI Avatar market.
The acquisition closed about two months ago, and neither company has disclosed it publicly. Alter helps developers and businesses create AI-based virtual avatars to represent their virtual identities.
Alter started his tech life with his Face emoji, providing a platform that other developers could use to add an avatar creation system to their apps and games. Jonathan Slimak, Chief Co-Founder and Operating Officer of Alter, recently shared on LinkedIn that he is launching a position for “Avatar Building at Google.” It’s unclear how Alter’s team and technology will help Google to compete with TikTok.
Alter’s top executive’s LinkedIn profile revealed a connection to Google. Jonathan Slimak, his former Alter COO, announced on LinkedIn in September that he would be starting a new role at Google without directly acknowledging the acquisition. A Google spokesperson confirmed the deal but declined to announce the procurement on the financial terms of the deal.
Recently, Google launched a new user chat platform that uses emojis to give users a personalized and fun-filled experience. The new AI-based face avatar chat feature is now available on all Google network platforms, including Google Workspace, G Suite Basic and Google Business Profile.