Gurgaon-based job credentialing platform, Aspiring Minds, has acquired Delhi-based online and mobile internship platform, Letsintern, for an undisclosed amount in an all cash deal. As per the deal, the LetsIntern team of 12 employees shall continue to lead the efforts of growing the Letsintern platform.
The acquisition is part of Aspiring Minds’ multi-million dollar investment plan in the internship space. The startup aims to basically help students get the right job in the labor market by merit as they believe internship is an integral part of the talent identification and improvement process.
Founded in 2011 by Rishabh Gupta, Pranay Swarup, Letsintern, is a unique platform that brings together three important stakeholders in the country — students, colleges and corporate organisations. It is a platform where all forms of student opportunities such as Internships, Virtual Internships, Brand Evangelists, Volunteer Opportunities, Tasks and even Full time jobs are facilitated through meaningful connections with organizations.
Besides, the portal also offers its registered students a freemium model where they have free access to the website but certain features are limited for only premium or paying members. The startup has a network of 4 Mn students and has helped over 22,000 organisations including Amazon, Uber and Reliance, to hire interns.
Speaking on the development, Himanshu Aggarwal, CEO at Aspiring Minds said, “LetsIntern gives us a very reliable presence in the internship space and in continuing our efforts to add more value to students, colleges and corporations. We expect to combine the reach of both AMCAT and Letsintern platforms and achieve significant synergies.”
Aspiring Minds was started in 2007 by brothers Himanshu Aggarwal and Varun Aggarwal. It is an employability evaluation and certification startup that helps institutions and companies choose the right candidate. Its flagship product, AMCAT, is widely-taken employability test helps over 2 Mn candidates find the ‘right’ jobs every year.
The company is backed by Amit Khimji Group and Omidyar Network, and has operations in the US, China, India, Middle East, Philippines and Sub-Saharan Africa.
Earlier, Aspiring Minds acquired a mobile software development company, Mizcoin, to reach more job seekers and work together on product research and development in order to enhance Aspiring’s mobile product strategy.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.