Continuing with its earlier commitment of investing close to $1 Million into aligning startups, Aspiring Minds, the online skill assessment platform backed by Omidyar Network, has reportedly shopped LetsIntern — a popular online intern hiring platform with a reach among 4 Million college students.
While the exact financials haven’t been disclosed, the deal is an all-cash one with LetsIntern continuing to work as a separate brand under Aspiring Minds. For Aspiring Minds, it will get direct organic reach to over 4 Million college undergrads — who have been using LetsIntern to search for internships in a staggering 22,000 organisations, including the likes of Amazon and Uber.
Founded in 2010 by Rishabh Gupta and Pranay Swarup, the startup has a team of 12 members, working full-time on the product. COO Swarup, commenting on the acquisition, said,
Letsintern was built with a vision to best connect students to their careers and the very next step in solving this complex problem is to be able to assess skill sets and suggest next steps. With Aspiring Minds on our side, we have more confidence to realise our shared vision.
As a part of this transaction, the over 500 people strong Aspiring Minds is now targeting to invest close to $3 Million in the coming two years. LetsIntern is Aspiring Minds’ second acquisition after Mizcoin earlier this year. The company has a presence spanning across the US, India, China, Middle East, Philippines and Sub-Saharan Africa.