Google Quietly Acquires Artificial Intelligence Avatar Startup 'Alter' for $100 million to Compete With TikTok
A new deal has been struck between Google and an AI avatar startup, Alter, which offers a platform for creating custom avatars. Alter, formerly known as Facemoji, was acquired by Google for $100 million. The acquisition was first reported by TechCrunch and confirmed last week by Google. Alter's CEO has already updated his LinkedIn profile to reflect his new role as the head of Google Avatars.
The company Alter, founded in 2012, makes AI avatars for social media platforms, brands, and creators. It was acquired by Google for $100 million two months ago. While the deal was not made public, several Alter executives updated their LinkedIn profiles to reflect the new job. While the executives declined to comment on the financial terms of the deal, they acknowledged that the company had been acquired by Google.
Alter, formerly known as Facemoji, has a variety of features that help make avatars more realistic. Its platform uses plug-and-play technology to make it easier for developers to add avatar systems to their applications. Last year, Alter raised $3 million in seed funding from Play Ventures, Roosh Ventures, and Twitter. Google plans to use Alter's tech stack to build better apps and services.
The company, which was formerly known as Facemoji, was acquired by Google for $100 million. The company will acquire Alter's AI-powered avatar technology to compete with TikTok. Alter's founder Jonathan Slimak will join Google as COO.
TikTok is an increasingly popular social network for younger audiences. As more people start using TikTok, more companies must adapt their marketing strategies to appeal to them. They need to create content that is personable and follow trends. TikTok's user interface makes it easier to connect with audiences.
Google is looking to improve its social media platform. The company will launch YouTube Shorts in 2021, a short form video format intended to compete with TikTok. It also plans to incorporate YouTube Shorts into its business model. The company estimates that its video service has 1.5 billion monthly users.
The acquisition of Alter could make YouTube Shorts more interactive for its users. Alter will improve the tools that help creators create content. Alter's acquisition may also allow Google to compete more aggressively with TikTok. A spokesperson for the company confirmed the acquisition but did not specify the financial terms. Google hopes to use the technology acquired from Alter to improve its content offerings and compete with TikTok. YouTube Shorts, a video-sharing service, has been a major success for Google, with an estimated 30 billion daily views.