Stumagz

StuMagz Foundation Story

StuMagz is a startup that began with a simple yet powerful idea. Its founders, Sri Charan Lakkaraju and Frederick Devarampati, wanted to bring out the hidden talents of students in colleges. They noticed that most colleges had in-house magazines, but these were limited in reach. The need for a digital platform to connect colleges and showcase student talents was clear[1].

Vision and Early Days

The vision of StuMagz was to create a digital ecosystem for colleges. Sri Charan Lakkaraju, an electrical engineer who previously worked with Infosys, and Frederick Devarampati, who ran a college newspaper, teamed up to launch this initiative. They started by creating a digital magazine for colleges, where students could generate content and share stories from their college lives[1].

In the early days, StuMagz focused on engaging students and providing a platform for them to express themselves. The founders believed that by digitizing college communications, they could make a significant impact on how students, faculty, and staff interacted. This vision was supported by T-Hub, India's largest incubator for startups, where StuMagz was one of the first startups to be incubated.

The initial success came from BV Raju Institute of Technology in Hyderabad, where students used StuMagz to tell their college stories. This pilot project laid the groundwork for what would become a comprehensive digital campus ecosystem.

Founding Team Background

Sri Charan Lakkaraju and Frederick Devarampati bring diverse backgrounds to StuMagz. Sri Charan, with his engineering background, understood the technical aspects of building a digital platform. Frederick, with his experience in running a college newspaper, knew the importance of content creation and student engagement.

Before starting StuMagz, Sri Charan worked at Infosys, while Frederick ran a brand agency. These experiences helped them in building a robust and engaging platform. Their combined expertise has been crucial in the growth and success of StuMagz.

The founders' passion for empowering students and making college life more digital has driven StuMagz's mission. They have been recognized for their work, including being featured in Forbes 30 under 30 Asia list in 2018.

StuMagz Business Evolution

StuMagz has evolved significantly since its inception in 2015. From a simple digital magazine to a comprehensive digital campus ecosystem, the startup has expanded its services and reach. Here is a look at its business evolution and key milestones.

From Initial Concept to Current State

Initially, StuMagz started as a digital magazine for colleges. Students could write stories, create events, and share college news. Over time, the platform expanded to include more features such as event ticketing, job and internship opportunities, and an innovation platform[1].

Today, StuMagz is more than just a digital magazine. It offers a Platform-as-a-Service (PaaS) solution that helps colleges become digital. The platform includes features like digital classrooms, digital information systems, placements, digital communication, alumni engagement, and payments.

The startup has also launched a premium version that charges colleges for digitizing their entire campus. This premium service includes an accreditation platform that helps colleges generate various reports[1]).

Key Growth Milestones

StuMagz has achieved several key milestones since its inception. One of its first big campaigns was with SBI, promoting the bank's mobile wallet 'SBI Buddy' during the demonetization period. It also organized a massive talent hunt called 'Telangana got talent' with over 3.5 lakh students participating[1]).

The startup has expanded its presence to over 400 colleges across India, with profiles of over 2 lakh students. It has also forayed into New Zealand, marking its first international expansion[1]).

StuMagz has been recognized for its innovation, including being chosen by the Telangana State Innovation Cell for its Government Mentorship Program. It has also won the best emerging startup award at the StartAP Awards in Visakhapatnam[1]).

Product Portfolio Expansion

StuMagz's product portfolio has expanded significantly. Here are some of the key features and services offered:

• Digital magazine for college students to generate content
• Event ticketing and management
• Job and internship opportunities
• Innovation platform for students
• Digital classrooms and information systems
• Alumni engagement and digital communication
• Payments and accreditation platform

These features have made StuMagz a comprehensive solution for colleges, enhancing their digital presence and facilitating better communication and collaboration[5]).

StuMagz Technology Infrastructure

StuMagz's technology infrastructure is designed to support its comprehensive digital campus ecosystem. Here is an overview of its core platform architecture, security framework, and innovation in the industry.

Core Platform Architecture

StuMagz's core platform is built as a Platform-as-a-Service (PaaS) solution. This allows colleges to subscribe to the service and get a fully functional digital campus ecosystem. The platform includes a user-friendly interface for students, faculty, and staff to interact and share information[5]).

The platform is accessible via both web and mobile apps, ensuring that users can access it from anywhere. This flexibility has been a key factor in its widespread adoption across colleges[1]).

The architecture is scalable, allowing StuMagz to expand its services as more colleges join the platform. This scalability has been crucial in handling the rapid growth of the startup[1]).

Security and Compliance Framework

StuMagz takes the security and compliance of its platform very seriously. The startup ensures that all data is securely stored and protected. Here are some key aspects of its security framework:

• Data encryption to protect user information
• Regular security audits to identify and fix vulnerabilities
• Compliance with educational data protection regulations
• Secure payment gateways for transactions

These measures ensure that the platform is safe and reliable for its users, which is essential for maintaining trust and confidence in the digital campus ecosystem[5]).

Innovation in its Industry

StuMagz has been at the forefront of innovation in the edtech sector. Here are some ways it has innovated:

• Creating a comprehensive digital campus ecosystem that integrates various college functions
• Providing a platform for brands and companies to reach students through targeted campaigns
• Launching an accreditation platform to help colleges generate reports and improve their visibility
• Expanding its services to include innovation platforms and job opportunities

These innovations have set StuMagz apart and made it a leader in the digital campus ecosystem space. Its focus on student and college community needs has driven its success and growth[1][5]).

Company Market Impact

Stumagz has made a significant impact on the educational market in India, particularly in Tier II and III colleges. Here’s a closer look at how they have grown and expanded their influence.

User Base Growth

Stumagz started with a clear vision to connect students from colleges that were not well-represented in the digital space. Since its inception in 2015, the platform has grown rapidly. It now serves over 300 colleges, with more than 1.5 lakh students using its services[8].The user base growth can be attributed to the platform's unique features such as digital magazines, digital classrooms, and project creation tools. Students can write stories, create projects, and organize events, all of which are approved and published by a team of volunteers from their college[7].Here are some key statistics highlighting the user base growth:

• Number of Colleges: Over 300 colleges are currently using Stumagz.
• Number of Students: More than 1.5 lakh students are active on the platform.
• Geographical Reach: The platform is used across Telangana and Andhra Pradesh.
• User Engagement: Students actively participate in writing stories, creating projects, and organizing events.

Market Share Expansion

Stumagz has expanded its market share by targeting colleges that lack a strong digital presence. The founders, Sri Charan Lakkaraju and Frederick Devrampati, focused on Tier II and III colleges, which are often overlooked by other digital platforms

[8].The platform's services are designed to make colleges more digital. This includes providing digital magazines, digital classrooms, and digital information systems. By offering these services, Stumagz has become a go-to platform for colleges looking to enhance their digital ecosystem[8].Key aspects of market share expansion include:

• Target Market: Focus on Tier II and III colleges.
• Unique Services: Digital magazines, digital classrooms, and digital information systems.
• Partnerships: Collaborations with colleges to provide a comprehensive digital campus ecosystem.
• Geographical Expansion: Plans to expand across the country.

Financial Inclusion Initiatives

While Stumagz is primarily an edtech platform, it also plays a role in financial inclusion by facilitating various financial transactions within the college ecosystem. For instance, the platform includes features for payments and alumni engagement, which can involve financial transactions

[8].The revenue model of Stumagz is three-dimensional, including college subscription revenues, event revenues, and hiring revenues. This model helps in ensuring that the platform is financially sustainable while also providing value to its users[8].Here are some financial inclusion initiatives:

• Subscription Revenues: Colleges pay a subscription fee to use the platform.
• Event Revenues: Stumagz earns revenue from events organized through the platform.
• Hiring Revenues: The platform facilitates hiring processes, generating revenue from this service.
• Payment Features: Integrated payment systems for various college-related transactions.

Company Financial Journey

Stumagz has had a notable financial journey since its inception. Here’s a detailed look at its revenue growth, path to profitability, and investment rounds.

Revenue Growth Story

Stumagz has seen significant revenue growth over the years. In the last 18 months, the company reported revenues of Rs 48 lakh. This growth is driven by its three-dimensional revenue model, which includes subscription fees from colleges, revenues from events, and hiring revenues[8].The platform's revenue growth can be attributed to its increasing user base and the value it provides to both colleges and companies. Companies use Stumagz to reach out to students directly, reducing their user acquisition costs[7].Key points about revenue growth:

• Revenue Figure: Rs 48 lakh in the last 18 months.
• Revenue Streams: College subscriptions, event revenues, and hiring revenues.
• User Base: Over 1.5 lakh students and 300 colleges.
• Company-College Partnerships: Revenue generated from partnerships with colleges and companies.

Path to Profitability

Stumagz is on a path to profitability by focusing on its core services and expanding its user base. The company aims to become the platform for all colleges across the country, which would significantly increase its revenue

[7].The founders have charted a plan for expansion, including the launch of new features such as gamification. This strategy is expected to enhance user engagement and attract more colleges to subscribe to the platform[7].Here are some steps towards profitability:

• Expansion Plans: Aiming to cover all colleges across the country.
• New Features: Launching gamification features to enhance user engagement.
• Revenue Model: Focusing on the three-dimensional revenue model.
• Cost Reduction: Helping companies reduce user acquisition costs by providing direct access to students.

Investment Rounds and Valuations

Stumagz has received funding from angel investors, which has helped the company in its growth and expansion plans. The founders, Sri Charan Lakkaraju and Frederick Devrampati, have secured investments from investors like Venkateshwaran Subramanian and Sudhakar Pennam from Solunus Tech

[8].While the exact valuation of Stumagz is not disclosed, the funding has been instrumental in developing the platform and expanding its services. The company's focus on Tier II and III colleges has also attracted investors who see potential in this untapped market[8].Key points about investment rounds:

• Investors: Angel investors from the US, including Venkateshwaran Subramanian and Sudhakar Pennam.
• Funding Use: Development of the platform and expansion plans.
• Market Potential: Focus on Tier II and III colleges seen as a promising market.
• Future Plans: Continued expansion and development of new features.

Company Strategic Partnerships

Stumagz has formed several strategic partnerships to enhance its services and reach. Here’s a look at its banking collaborations, merchant partnerships, and technology alliances.

Banking Collaborations

While Stumagz does not have direct banking collaborations, its payment features and financial transactions within the college ecosystem indicate a potential for future partnerships with financial institutions. These partnerships could enhance the platform's financial inclusion initiatives and provide more seamless payment solutions for users[8].Potential banking collaborations could focus on:

• Payment Integration: Integrating banking services for easy transactions.
• Financial Services: Offering financial services such as loans or scholarships through partnerships.
• User Convenience: Enhancing user convenience by providing banking services within the platform.

Merchant Partnerships

Stumagz facilitates events and competitions for brands within colleges, which involves partnerships with various merchants. These partnerships help brands reach out to students directly, reducing their user acquisition costs

[7].Key aspects of merchant partnerships include:

• Event Organization: Stumagz arranges and coordinates events for brands.
• Competitions: Facilitating competitions between colleges for brands.
• Direct Access: Providing brands with direct access to the student community.
• Cost Reduction: Helping brands reduce user acquisition costs.

Technology Alliances

Stumagz has formed technology alliances to enhance its platform and services. The company uses technology to provide digital magazines, digital classrooms, and other digital services to colleges. These alliances are crucial for maintaining and improving the platform's technological infrastructure

[8].Here are some key technology alliances:

• Platform Development: Collaborations with tech companies to develop and improve the platform.
• Content Delivery: Partnering with content players to deliver content to colleges.
• User Experience: Enhancing user experience through technological advancements.
• Scalability: Ensuring the platform is scalable to accommodate growing user base.