Jason Njoku Net Worth: $12 Million Dollars



Jason Njoku net worth

Jason Njoku is a British born Nigerian startup investor and entrepreneur with an estimated net worth of $12 million dollars. He is CEO and also a cofounder of popular standalone platform for Nollywood and Nigerian movies, iROKOtv.

He was birthed as Jason Chukwuma Njoku on the 11th of December in 1980 and was born in Britain. His first success, iROKOtv, happens to be his 11th tryout startup and attempt at developing a successful venture.

Prior to his successes with business startups, he had failed a number of times with developing enterprises that never saw the light.

He tried out ventures and failed 5 years, from 2005 to 2010. The businesses he started and failed at included a web design company, a blog platform, and a T-shirt business.

After failed attempts, he went back to his mother in Deptford to live with her. There in his mother's house, the idea to develop a Nollywood distribution platform online hit him.

Seeing it clearly that Africa had no movie distribution platform like the Western nations (who's got Netflix), he went to Lagos with funds from his friend, Bastian Gotter, and started acquiring Nollywood films online licenses.

From where he worked in Lagos, he made a deal with YouTube officials in Germany to be the official channel of Nollywood movies and partner for the company.

In 2010, Jason Njoku and his partner, Gotter, lunched NollywoodLove, a YouTube channel that became a hit after two months of going live.

In that same year, the YouTube Channel, NollywoodLove attracted Tiger Global; investors from the United States who wanted to expand their market reach.

Tiger Global, the US-based venture capital fund granted $3 million dollars in Series A investment, which aided the company to develop a movie platform, iROKOtv in the fall of 2011, December 1st. iROKOtv got views from 178 different countries globally.

The partners, Jason Njoku & Gotter, has futher secured $22 million dollars from foreign VCs which was used to develop a 5000 movie film catalog, opened and officially launched offices in Nigerian States Lagos, in London and New York.

From the $22 million dollars, investments were made to boost the company's tech materials. In 2015, the company's attention was drawn to developing a quality android mobile application.

This was to increase accessibility and lower the effect of low broadband that goes with online streaming in Africa. Jason Njoku, just like Abasiama Idaresit and Sim Shagaya, has won a couple of honorary awards and made notable lists of prominent people.

He made the Forbes' list of Africa's Ten Young Millionaire to Watch in July 2012, and was awarded Young Leader of the Year for West Africa at CNBC All Africa Business Awards in August 2013.

Jason Njoku took a bold step in August 2013 along with Bastian Gotter and Mary Remmy Njoku (who are his best friend & business partner and his wife respectively), to launch a $2 million dollar investment vehicle for Lagos based online startups known as Sparks.

The company has invested funds in about 11 other companies such as drinks.ng (a company established to distribute drinks), Tolet.com.ng (an online platform to let properties and real estates), and Hotels.ng (an online platform developed by Mark Essien for booking hotels, which has become a million dollar enterprise today and has raised $1.2 million dollars in VC investment from the Omidyar network and Echo VC Pan African Fund; an experienced capital fund focused on financing top teams, technologies and businesses across North America and the Sub-saharan Africa.

Jason Njoku had previously developed four failed startups which he announced in a blog post that they're letting go of in 2015.

The startups include Christians.ng (a dating platform developed for Christians to date), Bus.com.ng (an online platform to purchase bus tickets), Giddimint.com.ng (an internet fashion shop), and Insured.ng (an insurance agency online platform for insuring properties and other items).

Jason Njoku is happily married to Mary Remmy Njoku, a popular Nollywood actress and producer. They wedded on the 18th of August, 2012, at Festac in Lagos.

In 2013, they ushered in their first child and son named Jason Obinna Njoku and their second child, a girl, in 2015. She's named Nwakaego Annabel Njoku. Jason Njoku has made the list of Top 1000 Most Creative People in Business by Fast Company.



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