Australia’s Tapestry, a social networking app that connects seniors with friends and family, is expanding its presence in the US and diversifying its service, with the acquisition of ConnectAround, a California-headquartered service that provides social networks for retirement residences.
Aside from showing just how wide the category of social networks extends, the deal is an interestingly rare example of an Australian company buying a US-based company. Typically the roles are reversed, but with Canva recently launching and raising funding from the US, there are signs that Australian startups are breaking out.
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Tapestry says ConnectAround has “a well established” user base in Los Angeles, San Francisco & the Bay Area. Terms of the acquisition were not revealed.
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