Jason Njoku is co-founder and CEO of iROKOtv, sometimes known as the “Netflix of Africa”. If you’ve ever heard of it, you have likely wondered who owns iROKOtv. We will immerse you into the world of the man who runs one of the largest video-on-demand movie platforms in the Nigerian movie industry (Nollywood). This man recently declared he was burdened by money!
|Date of Birth||December 11, 1980|
|Age||42 year old|
|Place of Birth||Deptford|
|Net Worth||$40 million|
Jason Chukwuma Njoku (born 11 December 1980), in Deptford, South-East London to parents from Mbaise in Imo state, Nigeria, is a British-Nigerian businessman. He is the co-founder and CEO of iROKOtv, a video-on-demand service for Nigerian movies.
Jason was born and raised in Deptford, South East London; his mother raised him, his three sisters, and his brother by herself while working full-time in the National Health Service.
He attended school in London, then moved to a village in Nigeria from 12 to 15. After he returned to the United Kingdom, he attended college to complete his A-Levels, before securing a place at The University of Manchester, where he read Chemistry. He graduated in 2005 with a 2:1 and launched Brash Magazine. This student publication ran for three years before it closed in 2008.
After several failed enterprises between 2005 and 2010, which included a blog network, a T-shirt business, and a web design company, Njoku moved back home into his mother’s house in Deptford. There, he came up with the idea of starting a Nollywood online distribution business, “The West had Hulu and Netflix – Africa had nothing”, notes Njoku.
Having studied the industry from afar, he flew to Lagos, thanks to the financial help of his best friend Bastian Gotter, a fellow University of Manchester graduate, and started purchasing the online licenses of Nollywood movies.
He worked from a two-bedroom apartment in Festac Town, Lagos. He struck a deal with YouTube in Germany to be the official channel partner for the Nollywood company.
In 2010, Njoku and his former partner Bastian Gotter launched NollywoodLove. This YouTube channel was profitable within two months of launch. That same year, thanks to an article by Sarah Lacy, who worked at TechCrunch, NollywoodLove caught the attention of US-based venture capital fund Tiger Global which was interested in expanding its reach in emerging markets.
Series A investment of $3 million was secured from Tiger Global in 2010. The company launched a stand-alone video-on-demand movie platform, iROKOtv, on 1 December 2011. The site drew in viewers from 178 countries around the world.
Njoku and Gotter have since gone on to raise an additional $22 million from international VCs, with inclusion from Investment AB Kinnevik and RISE Capital, and have used the investment to build an extensive film catalog of 5,000 movies, launch offices in Lagos, New York, and London and invest in improving the company’s technology resource. Iroko has gone on to make other funding investments totaling $40 million.
In 2015, Njoku decided to focus the company’s attention on an Android mobile app rather than a streaming platform to combat the broadband infrastructure problems that Africa poses.
In August 2013, alongside his business partners Bastian Gotter and Mary Remmy Njoku, Njoku launched a $2 million investment vehicle for Lagos-based Internet startups called Spark.
The company initially invested in 11 companies, including a drinks distribution company called Drinks. ng, a real-estate, and property online letting agency called ToLet.com.ng, and a hotel room booking site, called Hotels. ng, which has gone on to raise $1.2 million in VC investment from EchoVC Pan-Africa Fund and Omidyar Network.
In 2015, in a blog post, Jason Njoku officially announced they were letting go of four startups considered failed businesses: Bus.com.ng (an online bus ticketing service ) and Insured. Ng (an insurance comparison platform), Giddimint.com.ng (an online fashion store), and Christians. ng, an online dating platform for Christians.
Awards & Recognitions
2012: Forbes Africa – ‘Ten Young African Millionaires to Watch
2013: CNBC – All Africa Business Awards Young Leader of the Year for West Africa
Fast Company’s Top 1000 Most Creative People in Business.
Jason Njoku married Nollywood film star and producer Mary Remmy Njoku in Festac Town, Lagos, on 18 August 2012. They welcomed their first son, Jason Obinna Njoku, on 30 July 2013; a second child, Nwakaego Annabel Njoku, was born on 24 August 2015; and a third child, Nnenna Amber Njoku, born on 4 August 2017.
He is 42 years of age. Born on 11 December 1980.
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Jason Njoku Net Worth
Jason Njoku is a British businessman, co-founder, and CEO of iROKOtv, a video-on-demand service for Nigerian movies, with an estimated net worth of $40 million. his source of wealth comes has ownership stakes in iRokotv, ROK, Spark, BlackBet, etc.
People Also Ask For FAQs
Which state is Jason Njoku from?
Jason Njoku was born in Deptford, South-East London to parents from Mbaise in Imo state, Nigeria
How old is Jason Njoku?
He is 42 years of age. Born on 11 December 1980.
Who is the owner of iROKOtv?
Jason Njoku is the co-founder and CEO of iROKOtv, a video-on-demand service for Nigerian movies. A self-proclaimed serial entrepreneur, iROKOtv was Njoku’s 11th attempt at starting a business.
How old is Mary Njoku?
38 years old
Who is Jason Njoku wife?
Mary Remmy Njoku.
How does Iroko TV make money?
Since its PPC ads are served by Google Adsense, our conservative estimate is that Iroko TV earns $0.30 for every single click.
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