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Perhaps the most tried, tested, and modified ed-tech company pitch out there involves challenging the conventional MBA. And with good reason: Attending business school is incredibly expensive and generally limited to a small number of individuals with the time and resources to devote to a top-notch education.
Even though no one company has fully mastered the code, Stoa School made its way through. In response to a larger awakening of the nation’s expanding startup culture, the Bengaluru-based startup has collected millions to offer an unaccredited, high-quality alternative to higher business education in India.
In this article, we will take a look at the success story of this fast-growing Stoa school. Let’s get started.
Stoa: Highlights
| Founded Year | 2020 |
| Location | Bengaluru India |
| Company Stage | Seed |
| Total Funding | $1.77M |
| Latest Funding Round | $1.6M, Seed, October 11, 2021 |
STOA: Profile
Stoa helps people begin and advance in business management careers at a fraction of the cost and length of a traditional MBA. The six-month Stoa Program aids professionals in gaining transferable skills across business functions and industry sectors, and the online learning community helps students build their professional networks.
Stoa was formed on the concept that a degree is not necessary for a good education. Stoa, an alternative to an MBA, seeks to assist professionals in obtaining all the benefits of an MBA without having to deal with the demanding schedule of a typical MBA program or pay tens of lakhs in tuition.
Words from the founder of Stoa: Raj Kunkolienkar
Raj Kunkolienkar is the founder of Stoa. Raj has launched numerous enterprises and is a seasoned businessman. He presently serves as the co-founder and chief vibe officer of Stoa School, an organization that helps people launch their own businesses and inducts students into enterprises.
“People want to know more about startups and perhaps the transition from working at a corporate job,” said founder Raj Kunkolienkar, who estimates that headcount demands in Indian startups have gone up by 40% over the past year.
“Our idea is to give a sort of complete 360-degree overview of different business areas,” said Kunkolienkar. He calculates that during the 24 weeks, around 30% of the curriculum is devoted to fundamental skills, such as better data management and research techniques. The remaining time is set out for in-depth discussions of particular in-demand professions, such as advice on product strategy or digital marketing responsibilities.
Meet the hardworking team of Stoa
Aditya Kulkarni is Co-Founder & CEO at Stoa. He attended the Indian Institute of Management Bangalore. He previously built and sold two successful startups and Stoa is his third venture. He held the position of CEO for BabyOnBoard and director of the school program at RoundGlass.
Manoj Kambadur, a co-founder, currently works as a career coach at the school. He has previously worked with Swiggy and Deloitte. He has worked on education projects in higher ed and K12, launched food delivery operations, invested in startups and supported portfolio operations of multiple venture capital firms based out of USA, Japan, and India, and implemented strategy & tech projects as a Consultant.
Sharmad Kuvelkar is also one of the co-founders of Stoa. He has previously worked with Nova Semita as a co-founder. He enjoys working with students and has served as an Executive council member of AFA-Goa.
Sutika Tapadia is their chief marketing head. She plays a very important role in planning the strategies of the company. She has previously worked with SDA Bocconi Asia and MISB Bocconi.
Stoa: Revenue Model
Each cohort member of the StoaMBA costs 2.5 lakh rupees (3300 USD).
As a result, if each cohort has 150 students in total, they will earn 3.75 crores rupees (about $500,000). Every three months, students begin a new cohort, and over the course of 15 months, they finish 4 cohorts.
As a result, they earn 15 crores (about $2 million) in 15 months. Every month, that amounts to 1 crore Rupees (132k USD).
There are no infrastructure costs because Stoa operates entirely remotely. The employment of instructors would be their biggest expense. It is reasonable to assume that Stoa is a somewhat successful startup.
Stoa: Competitors
Stoa has quickly established itself as a major player in the industry. However, in the competitive world, Stoa has got some competitors: EMERITUS, Upgrad and Invact
Let’s look at the structure of StoaMBA
StoaMBA is a 6-month cohort-based course that teaches its students about all things MBA. Their curriculum includes a wide variety of topics such as:
Strategy & Models, General Management, Brand, Economics, and Analytical thinking, There are 3 ways they teach their courses: Workshops and Case Studies for Self-Learning.
Stoa: Faculty USP
While it is customary to receive instruction from traditional professors who have earned their PHDs in their respective fields, Stoa keeps things more pragmatic.
The faculty of Stoa includes a number of company founders as well as directors of product, marketing, strategy, and other divisions. Ankur Warikoo, Nithin Kamath, Gagan Biyani, and other well-known people are among the co-founders of Nearbuy, Zerodha, and Udemy, respectively.
Because of their successful enterprises, students want to study from these entrepreneurs because their experience helps them get practical knowledge. This has been extremely beneficial for Stoa’s marketing.
Also, a number of business professionals regularly come to Stoa to teach the students, ensuring that their education is as practical and relevant to real-world work circumstances as possible.
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Stoa: Career Statistics
A network of entrepreneurs employed from each cohort has been established by Stoa School. It is quite simple to forecast that the demand for talent will only grow as startup investment rises, and Stoa School is the supply. With the help of their dedicated teachers and robust network of businesses, they have been able to place a sizable number of students.
Their Placement Report Breakdown:
Average Package: 15 LPA
Hiring Companies: 130+
Placement Rate: 85%
Stoa: Business
According to their website, StoaMBA is the finest option for Young Executives seeking Quick MBAs, Business people interested in working for tech startups, and Entrepreneurs.
They target a diverse group of people (bar core and technical people). Almost 3.5 lakh persons study for an MBA in India on average each year. The 3.5 lakh individuals only take into account those who could afford to pursue conventional MBAs.
The total number of MBA applicants could dramatically grow when you take in the MBA aspirants who couldn’t afford the time or money for a standard MBA.
Stoa: Funding
Stoa has raised a total of ₹110M in funding over 1 round. This was a Seed round raised on Oct 27, 2021.
| Shareholders Name | Post Round Holding % | Net Worth |
|---|---|---|
| Founder | 66.82% | 73.1Cr |
| Fund | 14.37% | 15.7Cr |
| Enterprise | 1.70% | 1.86Cr |
| Angel | 4.37% | 4.77Cr |
| ESOP | 11.01% | 12.1Cr |
| Other People | 1.76% | 1.92Cr |
| Total | 100% | 109Cr |
Stoa: Marketing Campaign
In association with Rabbit Hole Stoa has recently started a new brand campaign which was launched by Ashnir Grover. The campaign is spread over a three-part film series, playing on the reverse psychology of acquiring an education degree.
The first brand video celebrates and emphasizes that a degree is not always valuable by showcasing the family of a patient with a second-degree burn.
The second film portrays the protagonist on a date with his education degree refusing to place an order at the restaurant – stressing that “if a degree gets you full then Stoa isn’t for you“.
The third movie illustrates that “a degree cannot get you through anything” by having the protagonist flee the mayhem he caused while flashing his degree at a stoplight.
Their team keeps working on such types of campaigning ideas to boost their business.
Final Words
Finally, the success story of StoaMBA is a testament to the power of entrepreneurship and education. StoaMBA has provided a platform for aspiring entrepreneurs and business leaders to develop the skills, knowledge, and networks needed to succeed in today’s competitive business landscape.
In short, Stoa success story is a reminder that entrepreneurship and education can be powerful catalysts for change. By providing individuals with the skills and resources needed to succeed in the business world, we can create a more equitable and prosperous society for all.
For more such interesting content, read our startups success stories.
FAQ
What is the average revenue of Stoa?
Stoa School’s estimated annual revenue is currently $6.3M per year.
What is Stoa’s latest campaign?
Stoa has recently started a new campaign which “Stoa isn’t for you”. This campaign has a series of videos conveying the message that a degree can’t get you through anything.
Who are the Angel Investors of Stoa School?
Stoa School is funded by Angel Investors like Gagan Biyani, Harpreet Singh Grover, John Danner, Kunal Shah, and Nitin Kamath.
What is the legal name of Stoa School?
The legal name of Stoa School is Questo Wellbeing Private Limited.