LetsIntern, a Delhi-based web and mobile internship platform, is acquired by Aspiring Minds, which is an online skill assessment company based out of Gurgaon. The money involved in this all cash deal is not disclosed yet. LetsIntern, founded in 2010 by Rishabh Gupta & Pranay Swarup is a distinctive platform that brings together students, colleges and corporate organisations. The LetsIntern’s team would continue to operate this platform but as a separate label.
After being acquired by Aspiring Minds, Pranay Swarup, the COO of Letsintern.com said that the vision of LetsIntern was to connect students to the best career opportunities and the next step in this process is to assess their skills and suggest further steps. He said that having Aspiring Minds on their side gives them more confidence in the realization of their shared vision.
The acquisition came in as part of Aspiring Minds’ investment plan in the internship domain. The acquirer, Aspiring Minds, came into existence in 2008 by two brothers Himanshu Aggarwal and Varun Aggarwal. Based out of India, with U.S. headquarters in Redwood City, California, Aspiring Minds caters to more than 1,000 corporations, which includes some of the largest MNCs and education institutions.
Aspiring Minds is backed by Jayant Sinha of Omidyar Network India. The company uses the funding being received to extend its services to new domains and expand them to new locations. After Mizcoin, LetsIntern is their second acquisition. They plan to invest $2-3 million in the internship space in next two years..
Commenting on the acquisition, Himanshu Aggarwal, CEO, Aspiring Minds said that they plan to combine the reach of AMCAT and LetsIntern platforms and achieve significant synergies. They are excited to welcome the Letsintern.com team to the Aspiring Minds family.