Twitter buys VC-backed hiring startup in first Musk-era deal

Twitter's newly formed parent company X Corp. has bought VC-backed tech hiring platform Laskie to fulfill Elon Musk's ambitions for Twitter to become a "super app."

The deal—the first since Musk took control of Twitter—is understood to be worth tens of millions of dollars, which will be paid in a combination of cash and stock. Laskie, which was launched in 2021, offers tools designed to match tech workers with jobs. The San Francisco-based company previously raised $6 million from investors including Bloomberg Beta and Peak State Ventures.

It's unclear if Twitter will move Laskie into the platform. However, the company's website is no longer online, which suggests it may no longer be an independent brand. If added to the Twitter platform, an integrated job search service could add a new stream of revenue for the company.

The deal also appears to be a further step in Musk's plan to add more functions to Twitter, an endeavor that will likely involve more acquisitions.

In recent months, Musk has been making moves to transform Twitter into what he has described as an "everything app," similar to China's WeChat or Singapore's Grab. Commonly found in Asia, these platforms offer multiple services for users such as messaging, social networking, payments and ecommerce shopping.

Twitter has begun applying for regulatory licenses in the US to become a payments processor, having already registered with the US Treasury. The company is understood to be working on software needed to introduce payments across the platform, which would offer services including P2P transactions, savings accounts and debit cards.

Twitter has also partnered with trading platform eToro to give Twitter users the option to buy and sell stocks and crypto through its app.

Featured image by Justin Sullivan/Getty Images

This article originally appeared on PitchBook News