Aspiring Minds, employability credentialing firm, has acquired LetsIntern.com, Indian online and mobile internship platform, enabling millions of students connect with tens of thousands of organizations for internships. As a part of the acquisition, Letsintern team of 12 people would continue to operate the platform as a separate brand. The deal amount is still undisclosed.
The acquisition is part of Aspiring Minds multi-million dollar investment plan in the internship space. LetsIntern.com has good synergy with the company’s flagship product AMCAT, which is used by millions of young and early job seekers, 1000s of colleges and universities and over 3500 corporations.
Commenting on the acquisition, Himanshu Aggarwal, CEO, Aspiring Minds said, “We expect to combine the reach of both AMCAT and Letsintern.com platforms and achieve significant synergies. We are excited to welcome the LetsIntern.com team to the Aspiring Minds family.”
Founded in 2010 by Rishabh Gupta and Pranay Swarup, Letsintern provides an online skills assessment and has more than 4 million students on its platform. It has helped over 22,000 organizations including Amazon, Uber and Reliance, to hire interns.
This is Aspiring Minds’ second acquisition (Aspiring Minds acquired Mizcoin earlier this year) in as many quarters indicating it’s strive to scale its efforts in the ecosystem. They recently announced an ed-tech fund to seed investments in like minded start-ups.
Founded in 2007 by Himanshu Aggarwal and Varun Aggarwal, Aspiring Minds is backed by Amit Khimji Group and Omidyar Network, and has operations in the US, China, India, Middle East, Philippines and Sub-Saharan Africa.
“Our aim is to basically help students get the right job in the labor market by merit. We believe internship is an integral part of the talent identification and improvement process. It is thus natural for us to provide this service to students, mediated by assessments, to make the labor market overall more efficient,” said Varun Aggarwal, CTO, Aspiring Minds.