Internshala plans to launch student community service, pivots business model

Internshala plans to launch a student community service platform where they can explore, interact with their peers in their areas of interest, Sarvesh Agarwal, CEO, Internshala, told FE Education. “The first user study pilot was launched last week. We expect to launch the service by November 2022,” Agarwal said. In addition, Internshala claims to have revamped its revenue stream in June, 2021, with the introduction of freemium model, where companies can upgrade their internship listing at a cost of Rs 3,000. According to Agarwal, the upgrade includes extra features to the listing such as higher visibility, reach and personalised emails to the interested candidates. 

The company claims to have two revenue streams. Under the first model, it offers 4-8 hours skill-based courses to students at an average ticket price of Rs 1,300.  In FY22, the platform claimed that nearly 1.26 lakh students opted for skill-based courses. Secondly, it claims to charge companies Rs 5,000 to listing jobs for freshers, and Rs 3,000 for premium (one-time). Further, it runs a subscription based model at Rs 9,000 on monthly basis and Rs 90,000 per annum. “Initially access to the Internshala platform was free for both students and companies. However, starting November 2020, we offer paid listings for jobs,” Agarwal said. 

The company claims to have around listed 9,400 jobs for freshers and 18,800 premium in last fiscal. Regulatory files accessed by business intelligence platform Toffler revealed Internshala’s revenue from operations increased 88.86% to Rs 19.96 crore in FY21 from Rs 10.57 crore in FY20. The company reported net profit of Rs 12 lakh in FY21, from a net loss of Rs one crore  in FY20. The company declined to comment on financials of the currency fiscal as well as FY22. “In last financial year, we had 65,000 companies which made 3.5 lakh listings, with 15 lakh open positions. Of this 4,000 are paid companies, among which 50%, that is 2,000 companies chose to subscribe,” Agarwal said. 

Furthermore, the company plans to expand its skill based courses. “We decide skill based courses as per industry demands, as per the data analysed on the listings on internshala platform,” Agarwal added. On July 6, 2022, the company claimed to have raised undisclosed capital from Mount Judi Ventures and other High Networth Individuals (HNIs) as part of its expanded series A round. 

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