Upskilling and workforce enhancement company upGrad has acquired Internshala, one of the largest platforms for internships and early-career recruitment, in a transaction value that remains undisclosed, as revealed by both companies on Thursday.
This deal was arranged as a 90% stock swap, integrating Internshala's early talent marketplace into upGrad's educational and professional skills development ecosystem, amidst growing competition in India's rapidly advancing employability and digital learning sector.
Also Read: IBM Targets Training 5 Million Indian Youth In AI, Cybersecurity, Quantum Computing By 2030
upGrad's acquisition is seen as a move toward expanding its product range. Currently, Internshala earns approximately Rs 45 crore in yearly revenue, which upGrad aspires to increase to Rs 100 crore and beyond.
Sarvesh Agrawal, founder & CEO, Internshala said, “This is a very natural partnership where learning meets opportunity. In the last 15 years, Internshala has democratised the 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 added.
Chirag Samdaria, head of Corporate Strategy & Growth, upGrad said, “Education and employment in India have operated in silos for too long. This acquisition allows us to strengthen the earliest layer of the career journey, where intent is highest and outcomes can be meaningful."
"By bridging work opportunities with structured skilling, we are building a more aligned talent ecosystem for both learners and employers," Samdaria added.
Founded in 2010, Internshala has a community of over 34 million registered users and 4,50,000 employers, with approximately three million active applicants each year. The platform primarily garners its traffic organically and caters to students across India, with over 40% hailing from Tier 2 and Tier 3 regions.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.