Novalia represented Alter in the Startup Deal of the Year
Google bought the startup Alter (Omnipresence Inc.), which has Czech roots. The startup, formerly known as Facemoji, helps developers add online avatars to their apps and was co-founded five years ago by Czech entrepreneur Robin Raszka. It is one of the most significant exits with a Czech footprint on the domestic startup scene. Lawyers Bill Finney and Kamil Staněk from Novalia also participated in it.
Robin Raszka, born in Trinec, has had his second successful exit. After selling Summly to Yahoo in 2013, he successfully sold the startup Alter (Omnipresence Inc.) to Google.
The Czech part of the acquisition was handled by law firm Novalia, thanks to its experience from similar large startup exits (Stories or Integromat…). Legal support was provided by the Czech-American duo of Novalia attorneys – Bill Finney and Kamil Staněk.
“Thanks to the fact that Bill is an American attorney, we have a big advantage in similar transactions compared to domestic law firms,” says Kamil Stanek, while Bill Finney adds. When I left California 20 years ago, I didn’t expect Czech startups would be so successful.”
Alter started in the Czech Republic, developing a platform for online avatars, under the name Facemoji. Among the first investors in the startup were Twitter, Roosh Ventures, and Play Ventures – all of which participated in a seed round of $3 million last year, and it was this investment that allowed the US-Czech startup to partner with Google, resulting in one of the biggest startup deals of the year ten months later.
Thanks to Alter’s technology, game and app developers can use sophisticated avatars in their systems. This is an interesting tool for Google, among other things, in the context of the web3 and metaverse trend.
The parties do not wish to disclose the exact amount of the transaction, but it is in the billions of crowns and is one of the largest Czech exits ever.
We congratulate the entire Alter team on such a significant deal and wish them much success in the years to come!