M&A
Upskilling platform upGrad acquires job-search enabler Internshala for Rs.100-Cr: report
Mumbai-based upskilling firm upGrad has acquired a 90% stake in Gurugram-based internship and job-search platform Internshala in a stock deal valued at around INR 100 crore. Internshala will continue to operate as an independent brand under its founder and chief executive, Sarvesh Agrawal.upGrad will invest additional resources to accelerate product innovation, AI-led talent matching and enterprise hiring models, with the aim to grow Internshala’s revenue from INR 45 crore to INR 100 crore in the next 18-24 months.The move is intended to allow existing learners from upGrad to access the internships and job listings available on Internshala, while also bringing new users to the platform.
In May 2022, Internshala had attracted about USD 5 M from LC Nueva, Mount Judi Ventures and others.For FY25, Internshala had reported about INR 43 Cr in Operating Income and about INR 11 Cr in Net Loss.
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