CareerArc Group has sold Internships.com to Chegg
Internships.com (the “Company”) is the world’s largest internship marketplace, bringing students, employers and higher education institutions together in one centralized location to more effectively compete in the war for talent. The Company has approximately 6 million unique student visitors each year who search for internships, as well as full- and part-time jobs, and boasts the largest inventory of internships with over 75,000 current listings.
Lincoln International (“Lincoln”) acted as the exclusive financial advisor to CareerArc, working closely with the management team and shareholders throughout the sale process, from preparation and marketing to diligence and closing.
Robin Richards, Co-Chairman and CEO of CareerArc, commented, “Lincoln coordinated a successful sale process with a diverse group of buyers, which generated competitive dynamics and the right outcome for Internships.com and its shareholders. Finding the right potential acquirer who could fully appreciate the value the Company brings to students, employers and higher education institutions was an important priority for CareerArc.”
Paul Ouyang, Co-Chairman and COO of CareerArc, added, “We are pleased with the thorough and transparent nature of Lincoln’s process, which yielded an outstanding result for Internships.com. Lincoln generated excellent work quality and maintained a strong level of communication throughout the process, which helped us navigate to a successful close.”
About Internships.com
Internships.com is the world’s largest student-focused internship marketplace, bringing students, employers and higher education institutions together in one centralized location. Internships.com provides a wide variety of interactive tools and services to enable every student, employer and educator to better understand and optimize internship opportunities, enabling businesses to identify the best job candidates and students to develop the real-world skills they will need upon graduation. More information about Internships.com can be found at www.internships.com.
About CareerArc Group
CareerArc Group provides online social recruiting solutions for job seekers, college students, employers, and higher education institutions. The company offers a platform that enables job seekers to connect with people and find relevant opportunities through their social media profiles. CareerArc Group is comprised of TweetMyJobs and CareerBeam. TweetMyJobs is the leading social and mobile recruitment and job distribution network matching job seekers with employers. CareerBeam is the leader in next generation virtual outplacement solutions and college career success centers. More information about CareerArc Group can be found at www.careerarcgroup.com.
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