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Stoa School on Temporary Hiatus for Strategic Revamp

Stoa School
Preeti Bali / 6:58 am / June 12, 2024

Stoa School, a provider of part-time MBA bootcamps focused on the startup ecosystem, has temporarily halted admissions to its programs. The company is currently undergoing a strategic review process to ensure its curriculum aligns with the evolving needs of the job market and educational landscape.

Raj Kunkolienkar, co-founder of Stoa School, clarified that this is a planned pause and not a complete shutdown of operations. He emphasized that the company will unveil its revised course structure by early August in a public announcement. This follows a similar temporary suspension of admissions implemented earlier in 2022.

Focus on Long-Term Growth Through Strategic Planning

While a recent Ken report suggested a potential closure, Kunkolienkar refuted these claims. He explained that the pause in admissions allows Stoa School to revamp its offerings and stay ahead of the curve in the fast-paced world of work and education.

Streamlined Operations Maintain Core Functions

Entrackr’s sources reported that Stoa School had undergone staff reductions in the past six months. Kunkolienkar confirmed that approximately 25 employees were let go in November 2023. However, he assured that a dedicated team remains operational to manage learning resources, maintain the online community, and continue career services for existing students.

Established Track Record of Growth

Launched in October 2020, Stoa School carved a niche by offering a condensed, affordable MBA program targeted specifically at aspiring entrepreneurs. The six-month online program, priced at Rs 2.5 lakh, provided students with practical knowledge in areas like strategy, general management, branding, economics, and analytical thinking. The program structure relied on a system of weekly online modules with assessments and career support upon completion.

Financial Performance and Funding Landscape

Stoa School experienced significant financial growth in FY23, with operating revenue more than doubling to Rs 15.92 crore from Rs 6.13 crore in the previous year. The company also managed to reduce its losses from Rs 78 lakh in FY22 to Rs 43 lakh in FY23.

Stoa School secured seed funding in November 2021 from prominent investors including Nithin Kamath, Kunal Shah, Gagan Biyani, and AngelList. Since then, the company has not pursued further fundraising. Public records accessed by TheKredible indicate that co-founder Raj Kunkolienkar holds a 15.37% stake in the company, while co-founder and majority shareholder Rahul Karnik holds 51.45%. The company has also allocated an 11% stake for its Employee Stock Ownership Plan (ESOP).

Competitive Landscape

Stoa School competes in a growing market for alternative business education, facing competition from players like Upraised, Invact Metaversity, Masters’ Union, and Mesa School of Business. Notably, many of these competitors have secured funding rounds shortly after their launch. While Invact Metaversity, led by former Twitter India head Manish Maheshwari, secured $5 million in its initial funding round, Mesa School of Business garnered nearly $4 million in April 2023. Upraised also secured seed funding in August of last year. Entrackr previously reported that Masters’ Union was also in talks for a new round of investment.

 

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