Elon Musk's Startup Acquisition Brings Twitter One Step Closer to 'Super App' Status
May 18, 2023
Michael Isaac
3 minute(s) Read
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In a surprising turn of events, Twitter has reportedly acquired tech talent-hiring platform Laskie, as Elon Musk continues to make waves within the company. Bloomberg was the first to report on this development, which comes just days after the announcement of a new CEO for Twitter.


Laskie was co-founded by Chris Bakke, a well-known Twitter user and startup founder who previously sold his hiring startup Interviewed to Indeed six years ago. While the details and terms of the acquisition have not been confirmed by either Laskie or Twitter, it is worth noting that Bakke has been noticeably absent from Twitter since early May.


This acquisition is unexpected considering Twitter's recent downsizing efforts, which saw over 3,500 employees laid off and the sale of expensive office furniture. Additionally, Twitter is currently facing legal action from at least six companies for non-payment of bills. However, this move might indicate that the company is on a path to recovery. Musk, who previously expressed his aspirations for Twitter to become a "super app," recently appointed Linda Yaccarino, a former NBCUniversal executive, as CEO, while he assumed the role of chief technology officer.



Twitter CEO, Elon Musk


The Vision for a Super App


Musk's vision for Twitter involves transforming it into a comprehensive "super app" that encompasses various digital interactions, from messaging to grocery shopping. This concept aligns with the long-standing goal of Snap CEO Evan Spiegel and the strategy employed by several Chinese companies today.


READ ALSO - Google to Delete Inactive Accounts by December 2023


By acquiring Laskie, a platform that matches job seekers with potential employers, Twitter may be moving closer to achieving its super app objective and competing with the professional social networking platform LinkedIn.


Twitter's Mixed Track Record


It is worth noting that Twitter has struggled to maintain its acquisitions in the past. The popular six-second video platform Vine, which was acquired by Twitter in 2012 for approximately $30 million, was eventually shut down four years later. Twitter justified this decision by reallocating resources to focus on live streaming instead. However, even Twitter's live-streaming platform Periscope met a similar fate in 2021, being shut down due to what the company deemed "unsustainable" maintenance costs. Periscope survived just six years under Twitter's management.


This acquisition marks the first major move under Musk's leadership at Twitter. However, it remains uncertain whether Twitter can catch up to Facebook and Amazon, both of which are much closer to achieving super app status compared to the bird-themed social media platform.


May 18, 2023
Michael Isaac
3 minute(s) Read
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Twitter
Elon Musk
Laskie
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News

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