Stoa School, a startup that aimed to disrupt traditional business education with its six-month MBA bootcamp, has closed its doors after more than four years of operations. Co-founded by Raj Kunkolienkar, Stoa’s mission was to make business education more accessible, focusing specifically on India’s vibrant startup ecosystem.
In June, Kunkolienkar hinted that the company had “paused” operations to evaluate its direction. Now, he has confirmed via LinkedIn that Stoa will discontinue its services altogether. “It has been our privilege to serve over a thousand individuals who have gone on to achieve amazing things across industries and geographies. This was a gut-wrenching and tough decision to make, especially since people expect an education brand to endure,” he shared.
Founded in October 2020, Stoa aimed to offer an affordable alternative to conventional MBA programs, charging around Rs 2.5 lakh for a part-time course focused on essential startup skills like strategic thinking, management, branding, and economics. The program quickly attracted support from notable investors, including Zerodha’s Nithin Kamath, CRED’s Kunal Shah, Udemy’s Gagan Biyani, and AngelList. In November 2021, the startup secured seed funding to expand its vision.
The platform thrived during the pandemic as interest in online education soared, but a post-pandemic decline in demand for live-learning sessions ultimately influenced Stoa’s fate. “Despite having built a strong brand, we decided against going offline because the economics of that move would have led us to a place we stood against,” Kunkolienkar explained.
Stoa’s closure underscores the challenges faced by smaller edtech firms, even as the industry shows signs of a funding revival.
