Jason Njoku Biography and Net Worth
Jason Njoku Biography and Net Worth…Jason Njoku is the owner and the current CEO of iROKO TV. He is a Nigerian entrepreneur whose business insights have brought to bear an indelible revolution in mobile television in the country. This article discusses Jason Njoku’s biography, education, career, and is rise to prominence not only in the world of mobile TV presentation but business and entrepreneurship generally.
In the South-East part of London Jason Njoku was rise single-handedly by his mother alongside his other siblings. His mother was working with the National Health Service tirelessly as a full time worker.
Before moving back to Nigeria at the age of 12, Jason Njoku got his basic education in the UK and after that moved back to Nigeria where he stayed until he was 15years old. At 15, he returned to the UK to continue his studies. He studied chemistry at the University of Manchester and graduated in 2004 with a CGPA of 2:1.
Jason Njoku tried a lot of business ideals in 2005 but it could not causing him to move back to his mother’s house in Deptford that is located in the South-East of London, it was they and then that he came up with a ideal that has up till date make him a multi-millionaire. The ideal was that of starting an online platform where Nigerian movies are distributed.
He flew back to Nigeria to study the Nigerian movie industry through his research and later on invested on the ideal, Bastian Gotter prove to be a very good friend to him because of his large financial support to bring the ideal to limelight and now iROKO TV is one of the richest and most visited online Nollywood movie distributors.
To kick start this business, he had to purchase the entire needed online license pertaining to Nollywood movies, and he signed a contract with YouTube in Germany making them the official channel partner for Nollywood Company.
We say a big thank you to a writer at Tech Crunch who was able to help him secure his first investment fund of $3million from Tiger Global Company in 2010 and also secure another additional investment fund of $22million from international venture capital in all rising a reasonable capital to make the iROKO TV a reality which currently has in different catalogue of over 5000 movies and has an office in Lagos state, Nigeria, New York and London.
Recently he has launched a sport betting company in UK BlackBet.co.uk. Even when he has not yet come out to officially claim the ownership of the sport site but we are fully convinced that the betting company is part of his business Empire.
Multiple Investments for Multiple Successes
Jason Njoku has made a lot of investments in Nigerian companies. He is said to have made, together with his best friend, Bastian Gotter an over $2million dollar investment in Spark, a Lagos based internet Start-up Company.
Aside from Spark, he has invested in several other companies, 11 companies in all including a hotel room booking website called Hotels.ng, Drinks.ng which is a drink distribution company, an online real estate and property letting agency known as ToLet.com.ng, etc. these investments are valued at roughly $1.2million dollar.
Awards and Recognition
In recognition of his giant strides, Jason Njoku has won for himself several accolades in form of awards:
- Forbes Africa as one of the ‘Ten Young African Millionaires to Watch (July 2012)
- CNBC All Africa Business Awards Young Leader of the Year for West Africa (2013)
- Listed as Top 1000 Most Creative People in Business
Jason Njoku’s Family
Jason Njoku is happily married and the marriage is blessed with three kids namely Obi, Nwakaego, and Nnenna, the marriage took place in 2012 where he meet and proposed to a talented Nollywood actress and producer in FESTAC town which located in Lagos state of Nigeria.
iROKO TV’s Business Challenges and Solutions
IROKOTV suffer a little bit of problem that nearly destroy the company, here is a direct write up of the CEO on how he tackle and still maintain iROKO TV until date. I quote him direct
“In 2015, it was abundantly clear that we were “losing Africa”. By this I mean that most of Africa could not stream and therefore watch iROKO TV content because our customer base couldn’t afford or didn’t have access to reliable broadband required to watch our content. So, as a company, we had aggregated an incredible and peerless catalogue of Nollywood content as well as producing our own original TV series and movies but the majority of our potential audience simply couldn’t access it. No access means no subscriptions. While we started as a diaspora-focused platform, the goal was to grow our audience aggressively in Africa, starting with Nigeria. So I had to take the tough decision of switching off the streaming capability of iROKOTV and rebuilding the product from scratch into a mobile-focused app that allowed for downloads”.
“This was time and resource intensive – we had to hire and train international tech teams, go back to the drawing board in terms of product design and UX, and we also caused some small confusion among our customers, which led to a drop in numbers, at first. It was painful all round, in terms of redirecting resources for the new app, time and energy spent on building and product-testing, and then the difficulties of educating our audience about the app. The pain was short-lived, however, as within a few months, we saw our Africa number soar and mid-last year, we saw Nigeria become our number one subscriber base”.
Bastian Gotter contributions
Bastian Gotter is a friend to Jason Njoku and the co-founder of IROKO TV who in 2010 made a whooping invest of $150,000 in his Jason Njoku’s ideal towards the establishment of iROKO TV. Jason Njoku, met him while he studying in the university of Manchester university.
Initially Gotter invested $150,000 for a more than 50% stake of IROKO in 2010, immediately he signed a contract with YouTube to stream live Nigerian movies. Because of the exponential growth a US-based VC was attracted to invest over $3million dollars in 2011.
Before now Gotter was a London-based oil trader at BP but because of the growth in IROKO TV, where he was a co-founder, he had to leave his London based business to Lagos, Nigeria to take the role of the COO/CFO of iROKO TV.
Jason Njoku Net worth may be determined based on his ownership stakes in several of his companies and others he invests and this can be put at roughly $40m.
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