The ever bubbly Sarah Lacy of Pando Daily broke news of the funding with an interesting angle on how Naspers of South Africa had seemingly failed to seize such an opportunity. They are after all the owners of DSTV, Africa’s dominant pay TV operator with strategic properties under their wing.
The venture funding game in Africa is about to undergo a revolution. Jason’s success will encourage increased startup activity both within Nigeria and across the region. More importantly, angel and venture funding opportunities will begin to open up. Access to risk capital on a local scale will witness an upward swing as traditional finance avenues wake up to this sector. There is no greater call to action than that of success. Iroko are set to increase headcount at the company’s London office while a business development presence will be setup in New York. The company was last reported to be on a revenue run rate of $1 million per annum.
With a new focus on fine tuning its content distribution and expanding into content creation, Iroko is set to evolve into a household entertainment provider. The company currently operates the following properties:
It also runs channels on Youtube:
Techloy of Nigeria were the first to tip Africa and the world of this mammoth round whilst it was still in the works, true to their word the kahuna round has happened. It is worth noting that this is just a Series A funding round, expect bigger cash injections in the future.
Well done Jason!
8 comments
“CEASE”?
🙂
Well done!
“this I just”
🙂
Thank you spell checkers, keep up the good work.
Inspirational.
inspirational
On to an Unrelated issue, if techzim posted more stories, you would get more readers and more advertisers and maybe your own round of funding! 2 Articles a day keep the visitor away!
think of it this way, they could post hundreds of crappy useless stories a day, but rather, they report the few relevant stories that actually educate and enlighten the IT community. As the ICT sector grows, there will be more to talk about, but until then, I prefer quality over quantity.