Tuesday, August 20, 2013

Nigerian Movie Mogul Raises $2 million more for Local Angel Investing

'When I last saw Jason Njoku it was over a nice glass of wine in a restaurant in San Francisco. The time before that, he was bribing a Nigerian vigilante gang to release me. Such are the two poles of the worlds Njoku inhabits building his Nollywood video site, iROKOtv.
When he was starting iROKO, he went around asking wealthy Nigerian friends for angel investments and “they all basically laughed at me,” he says. “They said there was no money in what I was doing.” The market has disagreed: In its first year, iROKO was on a $1 million run rate off of YouTube ads, and since then Tiger Global invested $8 million.' Pando Daily

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