After four years of business operations, Stoa, a business that provided an alternative to conventional MBA programmes, has shut down. Co-founder Raj Kunkolienkar made the statement on social media, signalling the end of an endeavour that sought to offer accessible business education to a large audience.
The choice, according to Kunkolienkar, was “gut-wrenching,” as the company had first concentrated on online learning in order to reach a greater number of students. But after the pandemic, he observed a drop in online learning participation, which eventually affected their choice not to switch to an offline, physical model. He clarified that Stoa’s mission could not be financially supported by an offline strategy.
The Ken Hinted About this Move
This information comes five months after The Ken reported that Stoa was closing. According to Stoa’s CEO Aditya Kulkarni at the time, the business was only halting operations and weighing its options for the future. Stoa released “Zeus,” an AI-powered enterprise agent platform, in response to this revelation.
Zeus and Stoa were supposed to work together, but no additional Stoa cohorts were launched. In the past, Kunkolienkar has emphasised Zeus’s capabilities by saying that it would handle a variety of jobs, such as research, work assignments, and meeting minutes. Zeus’s operational state is still unknown, though.
Financial Report Card of Stoa
Kulkarni, Raj Kunkolienkar, and Manoj Kambadur founded Stoa in 2020. During its years of operation, the school served more than 1,500 students in 15 cohorts, making a major effect. With a revenue of INR 15.9 crore (about $1.9 million USD) in fiscal year 2023, the company showed significant financial growth. This is a significant 160.6% increase over the INR 6.1 crore (around $0.7 million USD) earned in the previous fiscal year. Additionally, they were able to cut their losses from INR 78.2 lakh (about $95,000 USD) in FY22 to INR 43.9 lakh (around $53,000 USD) in FY23, a 43.8% reduction.
Prominent investors Nithin Kamath, Kunal Shah, and Raveen Sastry of Myntra had contributed $1.5 million to Stoa’s seed fundraising. Other alternative business schools, such as Masters’ Union and Mesa School of Business, were competitors of the startup.
Challenges Faced by Online Education Providers
The difficulties experienced by online education providers, especially in the wake of the pandemic, are brought to light by Stoa’s closure. Even though the company’s revenue increased significantly and its losses decreased, it decided to shut down its operations due to a shift in learning preferences and the financial realities of running an internet business. It’s unclear what the future holds for Zeus, the AI platform.
For other educational companies, Stoa’s experience serves as a case study, highlighting the necessity of flexibility and meticulous financial planning in a market that is continuously changing. Nonetheless, the company’s influence on more than 1500 students is evidence of its early success in offering an alternative route to business school. It is yet unclear how this closure will affect the alternative MBA industry in the long run.
The Indians have always led from the front when it comes to entrepreneurship. With various big companies like Google and Microsoft being led by Indians, it is no doubt that India is a hub of leaders. Well, let us talk about one of the most prestigious brands, Adobe Inc. You might be surprised to know that the CEO of the company is an Indian too. Meet Mr. Shantanu Narayen, the man behind Adobe’s success, CEO of Adobe since 2007.
Name
Shantanu Narayen
Born
Hyderabad, India
Age
59
Citizenship
American, Indian
Education
Osmania University (BE), University of California, Berkeley (MBA), Bowling Green State University (MS)
Shantanu Narayen grew up in Hyderabad. To pursue a high school education, he went to Hyderabad Public School in Hyderabad. Later on, he earned a bachelor’s degree in Electronics and Communication from the University College of Engineering, Osmania University in Hyderabad. After that, Shantanu went on to pursue an MBA from the Haas School of Business, University of California, Berkeley. Additionally, Shantanu also holds a Master’s degree in computer science from Bowling Green State University in Ohio.
Much like every other student, Shantanu had common dreams. Initially, he wanted to become a journalist. However, his life took him to a better place he never dreamt of. According to Shantanu, to achieve goals we often have to work hard. As per Shantanu, the qualities that emerge through these efforts are recognized by our destiny and the universe selects us for a different purpose. However, that doesn’t mean we must exempt ourselves from dreaming about what we want. It is all because of the dreams, the best come out to the world.
Shantanu was a common man who grew up in a common neighbourhood in Hyderabad. His mother was a teacher of American Literature and his father ran a Plastic Company. Before joining Adobe, he began his career with Apple.
Previously, Shantanu served as a director for Silicon Graphics in desktop and collaboration products. He is also a co-founder of the company Pictra Inc. This company deals with the concept of digital photo sharing on the web. His story should be told to every student who is working hard to taste the sweetness of success. Because confident personalities like Shantanu teach us about the right direction.
Shantanu is responsible for establishing the gold standard of digital documents and creating and leading the explosive digital experience category. Presently, he is driving the company’s strategy to unleash creativity for everyone. The company has achieved record revenue and industry recognition for its inclusive, innovative, and exceptional workplace being continuously named a Great Place to Work and a Most Admired Company by Fortune.
He joined Adobe in 1998 as the vice president of its engineering technology group. Later on, he took giant strides in the company and worked for its development and establishing Adobe as a mega-brand in the technology sector. Further, he became the COO of Adobe in 2005. Shantanu was appointed as the CEO of the company in 2007. He is also the vice-chairman of the US-India Strategic Partnership Forum. Previously, Shantanu served as the director of Dell and is a former member of the U.S. President’s Management Advisory Board.
Leadership Style of Shantanu Narayen
Shantanu follows the transformational style of leadership. This type of leading the team is designed to encourage people to be the best. Successful transformational leadership has the capacity of masking an organization and its workforce adaptive to change. It is a supportive initiative that inspires people to look at collective interests, rather than personal benefits. This is the reason why Shantanu has been a great leader.
Major Accomplishments by Shantanu Narayen
Shantanu has been the recipient of many major honors. In 2011, Shantanu was honoured with the title of Doctor for Applied Science Degree in Alma Matter at the prestigious Bowling Green State University. He was promoted to Executive VP by Adobe before becoming the CEO of the company. Shantanu was given the responsibility of managing worldwide products. Shantanu’s name was also listed in The Top Gun CEOs by Brendon Wood International. He was even selected by US President Barack Obama as one of the board members of his management Advisory.
Shantanu was awarded Global Innovator Award at Nasscom during its 7th Annual Global Leadership Awards in 2011. He was also honored with the prestigious Philanthropic Leadership Award in 2009. Well, it is no doubt that his success is an inspiration for the youths around the country. With a wide variety of resources available, one can make out the best of himself/herself from these resources.
Wise Words From Shantanu Narayen
As per Shantanu, it is important to keep one’s curiosity. He had treated all his jobs at Adobe with the same vigour and dignity. As a long-time company leader, Shantanu knew that Adobe had a strong brand with an impressive track record of developing new products, therefore, it is Shantanu’s leadership that helped Adobe to become a mega-brand in the circuit.
Shantanu says that Adobe has always invested in projects that solved difficult challenges and stood firmly in the test of time. A major part of Shantanu’s success is viewing the larger opportunity. He always saw Adobe as a mega-brand beyond Photoshop and PDFs. Hence, an aspiring entrepreneur must visualize his project with a wider view.
Shantanu Narayen, the CEO and Chairman of Adobe left the country to pursue his dreams but the man continues to make India proud with his great achievements. He joined Adobe as the vice president of its engineering technology group in 1998 and became the CEO in 2007. Under his leadership, the company has achieved great success both in terms of revenue and industry recognition.
Shantanu is also known to be a recipient of India’s civilian honour Padma Shri and has been recognised as one of the world’s leading executives by many publications.
FAQs
When was Shantanu Narayen born?
Shantanu Narayen was born on 27 May 1963.
What is Shantanu Narayen’s current title?
Currently, Shantanu Narayen is the Chairman and CEO of Adobe Inc.
What is Shantanu Narayen’s current net worth?
The net worth of Shantanu Narayen is approximately $287 Million dollars.
Nitin Konde
