TLDR Aave Companies becomes Avara, buys web3 startup Los Feliz Engineering.

Avara aims for an open, decentralized internet.

Avara grows with its second acquisition, Sonar and now Los Feliz Engineering.

Avara, formerly known as Aave Companies, has undergone a significant transformation, including a rebranding effort and an acquisition that strengthens its position in the blockchain and web3 space.

The company has unveiled its new identity as Avara and has acquired Los Feliz Engineering, a prominent web3 software development startup based in Los Angeles. These strategic moves mark pivotal steps in Avara’s mission to foster an open, decentralized internet that promotes equity, participation, and innovation.

Avara’s rebranding: A new identity for a bold vision

Avara, a prominent blockchain technology firm, has rebranded itself, shedding its previous identity as Aave Companies. The company’s founder, Stani Kulechov, announced this change, emphasizing that it signifies more than just a shift in name; it represents a decisive stride towards realizing their ultimate mission.

Avara envisions an open and decentralized internet that is not only equitable but also inspires active participation while nurturing innovation within the web3 ecosystem.

In conjunction with its rebranding, Avara has made a strategic acquisition that further strengthens its web3 capabilities. The company has acquired Los Feliz Engineering, a Los Angeles-based web3 software development startup renowned for its contributions to the Ethereum crypto wallet, Family, and the developer library, ConnectKit.

This acquisition is a testament to Avara’s commitment to expanding its influence within the web3 space and building a diverse ecosystem of innovative products and services.

As part of the acquisition of Los Feliz Engineering, Benji Taylor, the founder of Family, will play a pivotal role in Avara’s journey. He will assume the position of Senior Vice President of Product and Design at Avara, bringing his expertise and vision to the forefront of the company’s strategic initiatives.

This addition to the Avara team reflects the company’s determination to bring top talent on board to drive its mission forward.

Avara’s previous acquisitions and ecosystem expansion

Avara’s acquisition of Los Feliz Engineering marks its second significant acquisition in a relatively short span of time. In December 2022, the company acquired Sonar, a web3 social gaming app.

This strategic move was aimed at expanding Avara’s ecosystem, particularly its Lens platform, which is designed as a decentralized social media platform. These acquisitions are indicative of Avara’s commitment to creating a vibrant and diverse web3 ecosystem that caters to various user needs and preferences.

Stani Kulechov, the founder of Avara, articulated the company’s vision for an open and decentralized internet. Avara’s mission goes beyond just financial innovation; it aspires to create an online environment that is inclusive, transparent, and equitable. The company believes in the power of blockchain technology and web3 to revolutionize the way we interact with the digital world.