Stoa

Stoa, a Bengaluru-based startup offering an alternative MBA program, has shut down its operations after four years, effectively laying off its entire team. The company, which had served over 1,500 students, cited a post-pandemic dip in demand for online learning as a key reason. Co-founder Raj Kunkolienkar explained that while the company built a strong brand, it decided against transitioning to an offline model due to unfavorable economics that conflicted with its mission of affordable education. Earlier this year, Stoa attempted to pivot by launching an AI-based enterprise agent platform called Zeus, but this initiative did not sustain the business. The closure marks the end for a notable player in the edtech and alternative business education space.

Proptech startup Stoa has laid off approximately 80 employees, reducing its workforce by 80% from around 100 to just 20, as reported in July 2023. The company, which operates in the U.S. real estate market, faced a significant blow to its business model due to rising inflation and the economic crisis that dramatically altered the sector. Despite raising a total of $300 million since its 2017 founding, including a rapid influx of capital between late 2021 and mid-2022, Stoa is now undergoing a reorganization. The Arizona-based startup, founded by Israelis, stated it has several potential deals under consideration as it navigates an uncertain future.