Elon Musk’s Twitter Just Acquired its First Company

Nehal Malik
12 months ago

Summary:

  • Twitter has reportedly struck a deal to buy out HR tech startup Laskie.
  • The deal supposedly values Laskie “in the low tens of millions.”
  • This will mark Twitter’s first acquisition since Elon Musk took over last year.

Twitter has agreed to acquire HR tech startup Laskie in a deal that’s worth “tens of millions,” as reported by The Information‘s Erin Woo (@erinkwoo).

The deal marks Twitter’s first publicly known acquisition since Elon Musk took control of the social media giant late last year. Musk’s Twitter has been focused on cutting spending — to the point that it laid off most of its workforce — and coming up with new ways of making money rather than spending it.

Laskie, which was still at the seed stage, built technology designed to match job seekers with companies. According to The Information‘s sources, Laskie’s two co-founders and five of the company’s employees now work at Twitter.

Twitter’s motives for buying Laskie are currently unknown. While Integrating Laskie’s technology into Twitter could potentially position it as a competitor to Microsoft’s LinkedIn, how Musk plans to go about doing so is anyone’s best guess.

Buying Laskie could also serve to further Musk’s ambitions to turn Twitter into an “everything app.” Responding to a Twitter user’s suggestion that the platform could also function as a dating app, Musk mused that it could help people find jobs as well.

Musk served as Twitter’s CEO since buying the company in October 2022, but that changed last week as he named his replacement. Last week, Musk also announced that Twitter will add voice and video call functionality sometime this year.

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