upGrad successfully acquires the internship platform, Internshala (Courtesy: Reuters)
UpGrad, an early skills provider platform, which teaches professional courses and workforce-development programs, has acquired Internshala, a platform that provides internship opportunities and entry-level jobs to students. The exact price hasn’t been publicly disclosed. The process of transaction did not solely include cash, as 90% of the transactions were structured as a stock swap. The deal has been reported, and Internshala is valued at Rs 100 crores.
How would Internshala continue to function after the upGrad acquisition?
Internshala, a Gurugram-based company, equips undergraduate students with hands-on experience through internships and starter jobs. It was founded in 2011 by Sarvesh Agrawal and claims to have more than 34 million registered users and around 450,000 employers on its platform, with roughly 3 million active applicants annually. It is worthwhile to note that almost half of its users belong to tier 2 and tier 3 cities. The completion of this acquisition does not imply the dissolution of Internshala under upGrad, but it will continue to function as an independent company under the guidance of Mr Agrawal.
Additionally, Internshala would expand its services by moving towards a more enterprise-based model. This would enable it to work with other companies on their hiring and training needs. This greatly signifies upGrad’s attempt to gradually transform itself into a one-stop solution for its users.
upGrad aims to grow Internshala’s revenue from ₹45 crore to ₹100 crore+ over the next 18–24 months using extensive AI tools and other enterprise hiring tools. A smooth pipeline would be created, as upGrad’s learners get exposure to the working opportunities made available through Internshala. They can now get better access to Internshala’s internships and job listings.
“This is a very natural partnership where learning meets opportunity. In the last 15 years, Internshala has democratized career start for students. Joining hands with upGrad will allow us to amplify our impact by skilling millions of candidates, offer pre-trained talent to companies at scale, and together become the default launchpad for every graduate’s career”, Agrawal said.
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