Stoa School, renowned for its MBA boot camp program, has temporarily paused new admissions as it re-evaluates its strategic direction. Co-founder Raj Kunkolienkar clarified to Entrackr that while admissions have been halted, the company has not ceased operations.
Contrary to reports suggesting a complete shutdown, Kunkolienkar emphasized, “It was a temporary pause in admissions, not operations, which we took back on January 24. This decision allows us to overhaul our offerings to align with the evolving future of work and learning. We will publicly announce our new direction by early August.”
Launched in October 2020, Stoa offers a six-month part-time MBA program tailored for the startup ecosystem. The curriculum covers diverse topics such as strategy, general management, brand, economics, and analytical thinking. Priced at around ₹2.5 lakh, it presents a cost-effective alternative to traditional MBA programs. Students engage in weekly online sprints, and upon passing exams and completing career milestones, they gain access to placement support.
Despite the pause in admissions, Stoa continues to operate its learning, community, and career functions. Kunkolienkar acknowledged that the company had previously paused admissions in early 2022 and laid off about 25 employees in November 2023.
Financially, Stoa demonstrated significant growth for the fiscal year ending March 2023 (FY23), with operating revenue more than doubling to ₹15.92 crore from ₹6.13 crore in FY22. Concurrently, losses were reduced to ₹43 lakh from ₹78 lakh in the previous year.
Stoa raised seed funding in November 2021 from prominent investors, including Nithin Kamath, Kunal Shah, Gagan Biyani, and AngelList. The company has not raised additional capital since then. According to startup data intelligence platform TheKredible, Kulkarni holds a 51.45% stake in the company, while Kunkolienkar has a 15.37% stake, with an ESOP pool of 11%.
In the competitive landscape, Stoa faces rivals such as Upraised, Invact Metaversity, Masters’ Union, and Mesa School of Business. Notably, these competitors have secured funding shortly after their launches. Invact Metaversity, founded by former Twitter head Manish Maheshwari, raised $5 million in its initial funding round. Mesa School of Business raised nearly $4 million in April last year, and Upraised closed its seed round in August. Masters’ Union has also been reported to be in talks for a new funding round.
As Stoa prepares to unveil its revamped offerings, the company remains focused on adapting to the future of education and providing valuable learning experiences tailored to the dynamic needs of the startup ecosystem.
