upGrad Acquires Internshala for Enhanced Skill Development

upGrad, a prominent skilling and workforce development enterprise, has made a significant move by acquiring the talented marketplace, Internshala, for an undisclosed sum. This transaction is notably structured with 90% of the total amount being a stock swap, valuing Internshala at approximately Rs 100 crore.

Investment in Innovation and Growth

According to upGrad, the company plans to channel additional investments into fostering product innovation, implementing AI-driven talent matching, and developing enterprise hiring models. The goal is to boost Internshala’s revenue from Rs 45 crore to Rs 100 crore or higher within the next 18 to 24 months.

Connecting Learners with Opportunities

This acquisition aims to provide existing upGrad learners with seamless access to internships and job listings currently available on Internshala. Moreover, it seeks to attract new users to the platform. Internshala will transition to a more enterprise-centric model, taking advantage of upGrad’s established enterprise business and collaborating closely with companies in the learning and development sector.

Independence Under Established Leadership

Internshala will maintain its operations as an independent brand, led by its founder and CEO, Sarvesh Agrawal. The platform is poised to utilise upGrad’s extensive scale and technological infrastructure as it broadens its offerings and strengthens its user base.

Internshala’s Background and Reach

Founded in 2011 by Sarvesh Agrawal, Internshala serves as an internship and training platform designed to assist college students in acquiring skills and gaining practical experience through internships and early job opportunities. Based in Gurugram, the company boasts over 34 million registered users and approximately 450,000 employers on its platform, with about 3 million active applicants each year. Notably, over 40% of its users hail from tier-II and tier-III cities across India.

Other Acquisition Talks

Furthermore, upGrad had engaged in discussions to acquire the test-preparation giant, Unacademy; however, these negotiations were halted when both parties could not agree on a valuation.