Stoa Layoffs
July 2023
Stoa announced a layoff affecting 80 employees (80% of its workforce) in July 2023. The company operates in the Education sector.
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80%
Jul 20, 2023
About
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.
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