Blockchain technology firm Aave Companies rebranded as Avara and announced an acquisition of a Los Angeles-based web3 startup.
Avara will now be the parent company of Aave, Lens, stablecoin GHO, Sonar and other brands, according to a company announcement. In addition to the name change, Avara also acquired Los Feliz Engineering, the web3 software development startup behind the Ethereum crypto wallet family and the ConnectKit developer library.
Benji Taylor, the founder of Family, will join Avara as senior vice president of product and design. The entire Los Feliz engineering team will also join Avara.
“Our transformation to Avara and the integration of Family into our fold are not simply changes in name or structure,” Avara founder Stani Kulechov wrote in a statement. “This is significant progress toward our ultimate mission: an open, decentralized Internet that is fair, inspires participation, and fosters innovation.”
Avara’s purchase of Los Feliz Engineering marks the second acquisition in its lifetime. The company acquired web3 social gaming app Sonar in December 5, 2022 to expand the ecosystem of Lens, a decentralized social media platform.
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