Alternative MBA Startup Stoa Shuts Operations

SUMMARY

Taking to social media, Stoa’s cofounder Raj Kunkolienkar introduced that after 4 years, the startup will shut its operations. 

Earlier this 12 months, the startup launched a brand new AI-based enterprise agent platform referred to as Zeus

Based in 2020 by Kulkarni, Raj Kunkolienkar, and Manoj Kambadur, Stoa has served over 1,500 college students throughout 15 cohorts

Bengaluru-based Stoa, the poster baby of different MBA, has shut down its operations. Taking to social media, Stoa’s cofounder Raj Kunkolienkar introduced that after 4 years, the startup will shut its operations. 

Calling the choice “gut-wrenching” Kunkolienkar stated that in a bid to offer reasonably priced enterprise schooling to hundreds of thousands, on-line was the important thing. Nevertheless, he famous put up the pandemic, there was a dip in online-learning and the corporate selected towards going offline. 

“Regardless of having constructed a powerful model, we determined towards going offline as a result of the economics of that transfer would lead us to a spot we stood towards,” he wrote. 

The recent developments got here nearly 5 months after The Ken reported that Stoa is shutting down its operations. Cofounder and CEO Kulkarni stated on the time that the startup had solely pressed pause on operations and was reevaluating its subsequent steps.

Publish this, the startup launched a brand new AI-based enterprise agent platform referred to as Zeus. The brand new AI agent was imagined to co-exist with Stoa. Nevertheless there was no readability on the launching of the following cohort. 

Again then, Kunkolienkar stated that Zeus can be launched with a large set of options that cowl duties reminiscent of minutes of conferences, work task, analysis and extra.  

• Ship personalised emails to folks within the organisation after conferences, even when they haven’t attended the assembly
• Can take directions over the decision and dispatch work to folks
• Do web analysis on matters mentioned
• Draft paperwork/mails
• Brainstorm and provide you with options
• Ask for elaboration on factors
• Relay messages to others

Nevertheless, at current there appears to be no presence of Zeus. Based in 2020 by Kulkarni, Raj Kunkolienkar, and Manoj Kambadur, Stoa has served over 1,500 college students throughout 15 cohorts. 

The startup reported a income of INR 15.9 Cr in FY23, a 160.6% bounce from INR 6.1 Cr within the earlier fiscal 12 months. It additionally managed to slender its loss by 43.8% to INR 43.9 Lakh from INR 78.2 Lakh in FY22. It’s not clear how Stoa carried out in FY24 because the startup is but to file its financials. 

The startup had raised $1.5 Mn in seed funding from Nithin Kamath, Kunal Shah, Myntra’s Raveen Sastry, amongst others. Stoa Faculty competes towards the likes of Masters’ Union, Mesa Faculty of Enterprise, amongst others.