Twitter’s First Acquisition Under Elon Musk: Job Search Startup Laskie

KEY TAKEAWAYS

Twitter, now owned by Elon Musk and rebranded as "X," has made its first acquisition by purchasing job search startup Laskie.

Laskie was a San Francisco-based startup that aimed to streamline the job hunt by connecting tech talent with employers and making the process more efficient.

Before its acquisition, Laskie achieved a high success rate, with over 80% of job seekers pursuing matches suggested by the platform.

The specific details of the acquisition, including the deal amount, remain undisclosed, but anonymous sources suggest it involved tens of millions of dollars in a mix of cash and stock.

The specific details of the acquisition, including the deal amount, remain undisclosed, but anonymous sources suggest it involved tens of millions of dollars in a mix of cash and stock.

The acquisition coincides with the appointment of Linda Yaccarino as the new CEO of Twitter, while Elon Musk remains in control.

Musk has plans to transform Twitter into an "everything app" and expand its functions, potentially including payments.

The acquisition of Laskie may be a step toward realizing Musk's vision for Twitter and marks a new chapter for the platform under his ownership.

Twitter, now under Elon Musk’s ownership and rebranded as “X,” has made its first acquisition – the job search startup Laskie, according to multiple reports.

Despite Twitter’s recently gained notoriety for not settling its bills, the social media giant has ventured into the employment sector by purchasing the relatively unknown San Francisco-based startup.

Laskie’s Role in the Job Market

Laskie was created as an innovative job-matching platform connecting tech talent with prospective employers.

It was designed to streamline the job hunt, making it faster, more efficient, and less stressful. Laskie’s goal was to simplify the process of finding exceptional remote work.

Their team aimed to help job seekers, ranging from engineers to designers to marketers, land their dream roles.

Before its acquisition, Laskie achieved a high success rate, with more than 80% of job seekers pursuing the matches suggested by the platform.

The company’s business model involved charging employers a portion of the hired employee’s first year’s salary as payment for its services.

The job search service was always free for job seekers.

Chris Bakke, one of the founders and the CEO of Laskie, is no stranger to the business of employment startups.

He successfully sold his previous venture, Interviewed, to the job listing giant Indeed in 2017.

Twitter, now under Elon Musk’s ownership and rebranded as “X,” has made its first acquisition – the job search startup Laskie, according to multiple reports.

A Mysterious Acquisition

News of the acquisition emerged when Laskie’s website abruptly went offline, replaced by a message informing visitors that the platform was no longer available.

Despite this, an archived version of the website was found, preserving details about Laskie’s mission and operation.

The specifics of the deal remain undisclosed. However, anonymous sources suggest that Twitter shelled out tens of millions in a mix of cash and stock to acquire Laskie.

The startup, founded in 2021, had previously raised $6 million in a seed round led by Bloomberg Beta and Peak State Ventures.

Attempts to secure a comment from Twitter were met with their standard non-responsive emoji. 

Requests for comments sent to Chris Bakke via Twitter and LinkedIn outside US working hours have yet to receive a response.

New Leadership, New Direction

This acquisition comes hot on the heels of the appointment of former NBCUniversal executive Linda Yaccarino as the new CEO of Twitter.

Yaccarino, who resigned from her position overseeing advertising at NBCU, is set to assume her new role in approximately six weeks.

While Yaccarino prepares to take the helm, Musk remains in control of Twitter.

His tenure thus far has been characterized by numerous headlines about the company’s refusal to pay landlords or suppliers.

This led to the temporary eviction of Twitter’s employees in Singapore and some employees bringing in their own toilet paper after the janitors were dismissed.

Despite these controversies, Musk has ambitious plans for Twitter. He aims to transform it into an “everything app,” encompassing a variety of functions, including payments.

The acquisition of Laskie might be the first step in achieving this vision, signaling a new chapter in Twitter’s journey.