In a surprising move, Twitter, led by Elon Musk, has made its first acquisition by acquiring job search startup Laskie. The deal, reportedly worth tens of millions in cash and stock, marks an interesting development for a company that has recently faced scrutiny for its financial practices. While the exact sale price remains undisclosed, sources familiar with the matter have confirmed the acquisition.
Laskie, a relatively unknown startup, positions itself as a unique job search platform, comparing it to a dating app for job seekers and employers. The company emphasizes its “precision matches” to connect professionals with their ideal roles. Laskie’s CEO, Chris Bakke, has prior experience in the industry, having sold his previous startup, Interviewed, to Indeed in 2017. Despite its potential, Laskie’s website is no longer accessible, leaving its future uncertain.
According to Daniel O’Shea, Laskie’s CTO and co-founder, the platform boasted an impressive success rate, with over 80% of recommended matches progressing to the next stage. While Laskie offered free services for job seekers, employers were charged a percentage of the hired employee’s first-year salary.
Founded in 2021, Laskie had secured $6 million in seed funding from notable investors such as Bloomberg Beta and Peak State Ventures. The acquisition by Twitter presents an opportunity for Laskie to integrate its job search technology into a larger platform, potentially reaching a broader user base.
This acquisition arrives on the heels of Elon Musk’s appointment of Linda Yaccarino, a former NBCUniversal executive, as the new CEO of Twitter. Yaccarino’s tenure is set to begin in approximately six weeks, following her resignation from overseeing advertising at NBCU.
Twitter’s acquisition of Laskie comes amidst ongoing controversies surrounding the company’s financial practices. Twitter has faced public backlash for unpaid bills and disruptive incidents, including temporary employee evictions in Singapore and the termination of janitorial services, forcing employees to provide their own supplies.
While Elon Musk envisions transforming Twitter into an “everything app” encompassing various features, including payment services, the acquisition of Laskie hints at the company’s ambition to expand its offerings beyond social media. As Twitter navigates its financial challenges and seeks new avenues for growth, the integration of Laskie’s job search technology could play a role in shaping its future direction.
