Artificial Intelligence: Google Acquired Alter, An AI Avatar Startup, Two Months Ago

https://dailyalts.com/wp-content/uploads/2022/10/avatar-1687700_640.jpg

The fact of the Alter acquisition was not made public.

TechCrunch reported Thursday that Google (NASDAQ: GOOGL) had made a hush-hush acquisition of Alter, an AI avatar startup that helps developers put avatars into games and apps. The transaction, estimated at $100 million, occurred a couple of months ago but was disclosed only now to Tech Crunch by a source familiar with the matter.

However, the deal was confirmed to Tech Crunch by a Google spokesperson who declined to discuss its terms.

Alter was founded and previously known as Facemoji, but has since rebranded. It writes on its LinkedIn page: “Alter is an open source, cross-platform [software development kit (SDK)] consisting of a real-time 3D avatar system and motion capture built from scratch for web3 interoperability and the open metaverse. With Alter, developers can easily pipe avatars into their app, game or website.”

Google reportedly intends to beef up its content using Alter’s capabilities as it moves to counter competition from TikTok.

Tech Crunch noted that some senior personnel (for example, chief operating officer, Jon Slimak) had updated their LinkedIn profiles to reflect the fact that they now worked at Google. However, they did not refer to the acquisition.

Prior to being acquired, Alter had raised $3 million in seed funding from investors including Play Ventures, Roosh Ventures and Twitter (NYSE: TWTR).

Related Story: William Shatner Celebrates 90th Birthday By Creating An AI Lookalike

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…