How Nigeria’s Jason Njoku Built a Multi-Million Media Platform from the Scratch
Jason Chukwuma Njoku is one of Nigeria’s top celebrities in the world of e-commerce. Jason Njoku is the co-founder of IrokoTV, a mobile entertainment, and internet TV platform.
It is hugely popular in Nigeria for its extensive catalog of African ‘Nollywood’ movies.
This company was co-founded in 2010, with a $150,000-investment from Njoku’s friend Sebastian Gotter.
At the moment, Iroko Partners is known to be the world’s largest companies that distribute African entertainment around the world and as the co-founder of Iroko Partners and IrokoTV, Jason Njoku’s principle is simple: “I am trying to make people happy”.
Njoku’s struggle in the early days of his business was not as funny and glamorous as it might seem to be. In 2010, Njoku started on YouTube before he built a successful world-known entertainment empire.
It has brought many challenges
A lot of times, Njoku told himself: “I make more mistakes than I make good choices. My only saving grace is that the choices that I make are better and more significant”.
After the unsuccessful attempts at YouTube business in the United Kingdom in 2010, Jason returned to Nigeria. He established close relationships with local film producers and founded a startup, IrokoTV.
Njoku didn’t have enough capital, but his friend and business partner, Sebastian Gotter invested £90,000 in his business which boosted the growth of IrokoTV. In 2011, Iroko Partners received $8-million investment from American hedge fund, Tiger Global. In the same year, an annual revenue of Iroko TV was $1.3 million and, as Njoku claims, the current earnings are surpassing the figures of the passing year.
Recently, IrokoTV received $19 million in investment which helped to expand the media empire into Francophone countries in Africa. As for today, the business has attracted up to $40 million in investment funding from the local and foreign investors.
Currently, Njoku is planning to transform the entertainment company into a $100-million conglomerate within the following few years.
Today, Njoku is a venture capitalist who is obsessed with funding local entrepreneurs. The young African entrepreneur once said: “I want to help young entrepreneurs build the next IrokoTV”.
By the way, IrokoTV was described by Forbes Magazine as the ‘Netflix of Africa’ which became its second name.