IrokoTV Raises $8Million In Funding
IrokoTV, the website that streams Nollywood on the internet has raised $8Million in over 2 rounds of funding led by Global Tigers, according to PandoDaily. IrokoTV went live at the end of 2011, after Jason Njoku ran Nollywood Love – a YouTube channel for Nigerian movies for about 2 years. In his first year of running the channel he made over $1Million and eventually quit YouTube this year to focus on IrokoTV.
Just a month after IrokoTV launched last year, it had over 100,000 registered users and over 1 million hours of videos had been watched on the site. Jason Njoku also expanded into music streaming with iROKING.
How will this money be spent?
Jason Njoku says IrokoTV’s London team will be doubled to 12 in the next few months. They’ll also open an office in New York to handle business development.
Iroko Partners has to be Nigeria’s fastest growning internet company. I don’t think we’ve seen this much investment in a Nigerian web company.