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Jason Njoku shuts down iROKO’s London office

By , IT in government editor
Africa , 30 Apr 2014

Jason Njoku shuts down iROKO’s London office

Jason Njoku, founder and chief executive officer (CEO) of popular Nigerian content distribution website, iROKOtv, has announced that his company's London office is closing down.

Njoku made the announcement on his personal blog, stating that the decision is a move to "truly prepare the company for an Africa focused future .. to re-align the company itself".

Njoku explained that part of this move has to do with the fact that he sees a more Africa focused future for iROKOtv with Nigeria as one of the company's big markets.

"The only reason we are large outside of Nigeria is because of terrible internet penetration on the continent. But that will change. When?... Who knows? But what I do know is that it has gotten x5 better the 4 years I have been in Lagos," he wrote.

The Nollywood streaming service has offices in Nigeria, Johannesburg, New York, and London.

And although iROKOtv's parent company is a UK entity, the London office is to be shut down.

"I decided to close the London office. This wasn’t easy," Njoku wrote.

Njoku also adds that some of the company's longest serving employees were based out of London.

"We had 12 people in London, so this was not a light hearted decision. However, these are the tough decisions a startup has to make. I felt we needed to focus around an African future. I felt the balance of the talent and activities needed to look at the continent rather than Europe, which incidentally after North America is our largest viewer block," he said.

He also stated that the company's customer support, technology and subscription business would be run from its new international office in New York.

There are also plans to build an office in Kenya's capital city, Nairobi, as the company begins to focus on customer acquisition and subscriber growth on the continent.

On Tuesday Njoku also took to his blog to announce that the Nollywood streaming site would change its business model from a 95% freemium approach to a subscription based model.

Both announcements have come about after officials from iROKOtv last year said that the service is only planning to be profitable in 2015.

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