• Is it only me? It seems Osimhen and Boniface are doing everything possible to be popular on Naija social media when they are already popular .....I don't understand.
    Is it only me? It seems Osimhen and Boniface are doing everything possible to be popular on Naija social media when they are already popular .....I don't understand.
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  • This is the greatest comeback story in history:

    At 12, This Man witnessed his father’s murder.

    Later Lost his life savings on 3 failed startups.

    Bet everything on one last idea.

    Today, his company is worth $3 billion.

    This is the story of Tope Awotona, the Nigerian-born tech. entrepreneur, founder of Calendly

    and the 3 lessons his journey teaches us about failure, resilience, and success:

    At just 12 years old, young Tope witnessed his father’s murder during a carjacking in Lagos.

    That moment shattered his world.

    But little did he know, this tragedy would ignite a fire within him,
    a drive to build something extraordinary.

    After his father’s death, Tope moved to America as a teenager.

    He studied computer science at the University of Georgia but found himself drawn to sales roles.

    Yet, something was missing.

    He wanted to create something that mattered.

    So, he took the leap into entrepreneurship.

    His first venture? An e-commerce site selling projectors.

    It failed

    His second startup? A garden tools business.

    It failed too

    His third attempt? A dating website.

    That also crashed and burned

    Each failure cost him time, money, and confidence.

    But each one also taught him something invaluable:

    His first failure exposed the importance of supply chain management.

    His second failure showed him the value of operational efficiency.

    His third failure taught him about market timing and the need for proper funding.

    By 2013, Tope was out of money, out of ideas, and out of options.

    But he wasn’t out of the fight.

    He had one last idea, and he went all in.

    Invested his entire life savings, $200,000, into a scheduling tool called Calendly .

    Friends thought he was crazy.

    Investors called the idea "boring" and "unscalable."

    But Tope had discovered a universal pain point: the endless back-and-forth emails just to schedule a single meeting.

    He knew this wasn’t just an annoyance, it was a productivity killer.

    With no external funding, Tope hired Ukrainian contractors to build the first version of Calendly.

    He kept it simple:

    A clean interface.

    Easy functionality.

    One core problem solved perfectly.

    And it worked.

    Calendly spread like wildfire.

    Freelancers loved its simplicity.
    Sales teams appreciated its efficiency.
    Recruiters shared it with their networks.

    By 2020, Calendly was generating over $70 million in annual recurring revenue.

    Then, COVID hit.

    The world shifted to remote work, and virtual meetings became the norm.

    Calendly became essential.

    In 2021, investors who once dismissed Tope’s idea poured in $350 million.

    Calendly’s valuation skyrocketed to $3 billion.

    Today, Tope Awotona is worth over $1 Billion dollars become the few Nigerian-born Entrepreneurs who has crossed the billionaire line

    The boy who witnessed tragedy in Lagos had built a tech empire.

    But His journey revealed three profound truths about success to Us:

    - Rejection is redirection

    Every failed startup taught Tope something critical.
    The lessons from those failures became the foundation for Calendly’s success.

    - Solve real problems

    Calendly didn’t chase trends, it solved a pain point Tope experienced firsthand.
    The best ideas come from personal frustration.

    - Constraints breed creativity

    With no funding, Tope focused on simplicity.
    That constraint became Calendly’s greatest strength.

    Tope Awotona’s story is proof that success isn’t about avoiding failure it’s about learning from it.

    So, the next time you face rejection, remember Tope Awotona’’s journey.

    Your greatest comeback could be just one idea away.

    #TechStories
    #calendly
    #tope
    This is the greatest comeback story in history: At 12, This Man witnessed his father’s murder. Later Lost his life savings on 3 failed startups. Bet everything on one last idea. Today, his company is worth $3 billion. This is the story of Tope Awotona, the Nigerian-born tech. entrepreneur, founder of Calendly and the 3 lessons his journey teaches us about failure, resilience, and success: At just 12 years old, young Tope witnessed his father’s murder during a carjacking in Lagos. That moment shattered his world. But little did he know, this tragedy would ignite a fire within him, a drive to build something extraordinary. After his father’s death, Tope moved to America as a teenager. He studied computer science at the University of Georgia but found himself drawn to sales roles. Yet, something was missing. He wanted to create something that mattered. So, he took the leap into entrepreneurship. His first venture? An e-commerce site selling projectors. It failed His second startup? A garden tools business. It failed too His third attempt? A dating website. That also crashed and burned Each failure cost him time, money, and confidence. But each one also taught him something invaluable: His first failure exposed the importance of supply chain management. His second failure showed him the value of operational efficiency. His third failure taught him about market timing and the need for proper funding. By 2013, Tope was out of money, out of ideas, and out of options. But he wasn’t out of the fight. He had one last idea, and he went all in. Invested his entire life savings, $200,000, into a scheduling tool called Calendly . Friends thought he was crazy. Investors called the idea "boring" and "unscalable." But Tope had discovered a universal pain point: the endless back-and-forth emails just to schedule a single meeting. He knew this wasn’t just an annoyance, it was a productivity killer. With no external funding, Tope hired Ukrainian contractors to build the first version of Calendly. He kept it simple: A clean interface. Easy functionality. One core problem solved perfectly. And it worked. Calendly spread like wildfire. Freelancers loved its simplicity. Sales teams appreciated its efficiency. Recruiters shared it with their networks. By 2020, Calendly was generating over $70 million in annual recurring revenue. Then, COVID hit. The world shifted to remote work, and virtual meetings became the norm. Calendly became essential. In 2021, investors who once dismissed Tope’s idea poured in $350 million. Calendly’s valuation skyrocketed to $3 billion. Today, Tope Awotona is worth over $1 Billion dollars become the few Nigerian-born Entrepreneurs who has crossed the billionaire line The boy who witnessed tragedy in Lagos had built a tech empire. But His journey revealed three profound truths about success to Us: - Rejection is redirection Every failed startup taught Tope something critical. The lessons from those failures became the foundation for Calendly’s success. - Solve real problems Calendly didn’t chase trends, it solved a pain point Tope experienced firsthand. The best ideas come from personal frustration. - Constraints breed creativity With no funding, Tope focused on simplicity. That constraint became Calendly’s greatest strength. Tope Awotona’s story is proof that success isn’t about avoiding failure it’s about learning from it. So, the next time you face rejection, remember Tope Awotona’’s journey. Your greatest comeback could be just one idea away. #TechStories #calendly #tope
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  • JUNE 12: The first picture is happening in Lagos where youths are having a Hunger protest.

    The second picture is happening in Abia, Aba precisely where youths are having a 2 million man match in support of Gov Alex Otti good governance

    The two events are happening simultaneously and on the same day.
    JUNE 12: The first picture is happening in Lagos where youths are having a Hunger protest. The second picture is happening in Abia, Aba precisely where youths are having a 2 million man match in support of Gov Alex Otti good governance The two events are happening simultaneously and on the same day.
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  • BREAKING:
    The Alliance of SAHEL States (AES) has introduced its national anthem, marking a significant milestone in the establishment of a borderless nation comprising Burkina Faso, Niger, and Mali. This integration enables the free movement of people and businesses, supported by a single, unified army. The three heads of state simultaneously launched and sang the AES national anthem. As an African, do you think the AES embodies the future and the principles that Africans stand for?

    Your thoughts on Africa time
    BREAKING: The Alliance of SAHEL States (AES) has introduced its national anthem, marking a significant milestone in the establishment of a borderless nation comprising Burkina Faso, Niger, and Mali. This integration enables the free movement of people and businesses, supported by a single, unified army. The three heads of state simultaneously launched and sang the AES national anthem. As an African, do you think the AES embodies the future and the principles that Africans stand for? Your thoughts on Africa time 👇👇
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  • Are Brands Shortchanging The Southeast?

    We pride ourselves on having a large market in the Southeast. Numbers and statistics support this claim. When I was in the telecom industry, Onitsha was a big revenue center for the telcos.

    However, we cannot say that brands benefiting from the huge Southeast market have shown enough good faith in their social investments decision-making and this is baffling.

    Lagos, Abuja, and Port Harcourt usually receive a large chunk of corporate sponsorships from major Nigerian brands, to the neglect of the Southeast market, which can be likened to the goose that lays the golden egg.

    We once had MTN as the title sponsor of Enugwu-Ukwu Igu-Aro and the other associated festivals. That relationship stopped and no other brand has bothered to throw their muscle behind the rich cultural fest. Globacom sponsors the Onitsha Ofala Festival. However, other brands are yet to step in as co-sponsors to help blow the festival the same way they have done with the Ojude Oba festival in Ijebu-Ode, Ogun state.

    These fliers are just a few examples of how other brands have helped to activate the Ojude-Oba festival.

    Organizing world-class festivals requires a lot of resources which only brands can provide. We people of the Southeast are demanding more from brands that are generating tons of revenue from the Southeast. Fair is fair.

    We are simply asking for a re-think of the corporate social investments (CSI) strategies of major Nigerian brands to also favour the Southeast which also generates the revenues for them.

    The argument that insecurity in the Southeast is one of the reasons why brands chose to stay away from CSI investments is not completely true. Insecurity may have impacted social life but people are still making calls and using data in the Southeast so the telcos can’t complain. On the Mondays of sit-at-home, I can bet that data and call usages increase as people idle away at home. On weekends, and even weekdays, bars and nightclubs are still banging so beverage companies are smiling. The financial services sector is thriving despite the security challenges. POS operators are almost lined up inch after inch in our communities. Banks are still declaring trillions of Naira in profits.

    During festive periods such as Easter, New Yam, and Christmas seasons when these festivals take place. It’s choc-a-block and bumper-to-bumper traffic in the Southeast. So a bit more CSI gaze towards the Southeast by the brands won’t be a bad idea. The tokenism approach should be discarded because it’s good business for them.

    Copied
    Are Brands Shortchanging The Southeast? We pride ourselves on having a large market in the Southeast. Numbers and statistics support this claim. When I was in the telecom industry, Onitsha was a big revenue center for the telcos. However, we cannot say that brands benefiting from the huge Southeast market have shown enough good faith in their social investments decision-making and this is baffling. Lagos, Abuja, and Port Harcourt usually receive a large chunk of corporate sponsorships from major Nigerian brands, to the neglect of the Southeast market, which can be likened to the goose that lays the golden egg. We once had MTN as the title sponsor of Enugwu-Ukwu Igu-Aro and the other associated festivals. That relationship stopped and no other brand has bothered to throw their muscle behind the rich cultural fest. Globacom sponsors the Onitsha Ofala Festival. However, other brands are yet to step in as co-sponsors to help blow the festival the same way they have done with the Ojude Oba festival in Ijebu-Ode, Ogun state. These fliers are just a few examples of how other brands have helped to activate the Ojude-Oba festival. Organizing world-class festivals requires a lot of resources which only brands can provide. We people of the Southeast are demanding more from brands that are generating tons of revenue from the Southeast. Fair is fair. We are simply asking for a re-think of the corporate social investments (CSI) strategies of major Nigerian brands to also favour the Southeast which also generates the revenues for them. The argument that insecurity in the Southeast is one of the reasons why brands chose to stay away from CSI investments is not completely true. Insecurity may have impacted social life but people are still making calls and using data in the Southeast so the telcos can’t complain. On the Mondays of sit-at-home, I can bet that data and call usages increase as people idle away at home. On weekends, and even weekdays, bars and nightclubs are still banging so beverage companies are smiling. The financial services sector is thriving despite the security challenges. POS operators are almost lined up inch after inch in our communities. Banks are still declaring trillions of Naira in profits. During festive periods such as Easter, New Yam, and Christmas seasons when these festivals take place. It’s choc-a-block and bumper-to-bumper traffic in the Southeast. So a bit more CSI gaze towards the Southeast by the brands won’t be a bad idea. The tokenism approach should be discarded because it’s good business for them. Copied
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  • Omo, Simon Guobadia has been deported back to Naaja from the USA, after some months in ICE detention center.

    So wetin go come happen to the big multimillion dollars mansion he bought with his ex-wife, an American reality TV star Porsha, who has been in court with him over the property? Na this one be Ozeba market.

    Bro, if you kpali never ripe, no buy property for Abroad oo.... hmmm..

    May Naaja favor him as he starts all over again.
    Omo, Simon Guobadia has been deported back to Naaja from the USA, after some months in ICE detention center. So wetin go come happen to the big multimillion dollars mansion he bought with his ex-wife, an American reality TV star Porsha, who has been in court with him over the property? Na this one be Ozeba market. Bro, if you kpali never ripe, no buy property for Abroad oo.... hmmm.. May Naaja favor him as he starts all over again.
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  • Regina should steer clear of this drama.

    Angela and Mercy go way back—about two decades, in fact. Regina was barely out of diapers when all this started, so it’s unlikely she can grasp the depth of whatever’s simmering between these two seasoned actresses.

    Mercy’s career took flight in 2004 when eight of Nollywood’s top stars—names like Omotola, Genevieve, RMD, and Jim Iyke—were temporarily blacklisted for demanding higher pay. That one-year suspension gave rising talents like Mercy Johnson, Ini Edo, and Stephanie Okereke a golden opportunity to shine. Before that, they were mostly stuck playing side characters or friends of the lead.

    Adding to Mercy’s luck, Genevieve didn’t return to acting until 2006 when she starred in *Girls Cot*. By that time, Mercy had already stolen the spotlight. She wasn’t just skilled—she had the figure and on-screen charm that fit the era’s favorite roles: queens, village belles, university girls, and the dangerous beauty with secrets.

    However, with more fame came more friction. Her first public altercation was in 2010 with Patience Ozokwor. Witnesses claimed Patience criticized a costume and threw subtle shade, saying she wasn’t about to wear something “Mercy-style.” Mercy heard and went off.

    The following year, she reportedly butted heads with Mike Ezuruonye. She’d arrived late to a shoot, and Mike called her out on it, reminding her of the humility she once had. That didn’t sit well with Mercy, who allegedly refused to rehearse lines with him afterward.

    2011 was also the year she married Prince Odianosen Okojie, even though he was still legally married to someone else at the time. That marriage added more fuel to the bad-girl image that followed her.

    Soon after, Mercy made headlines again for allegedly smashing a crew member’s phone. The story goes that the young woman had been recording a romantic scene, and Mercy suspected the footage was meant for gossip blogs as “proof” of infidelity.

    (Back then, I was on Mercy’s side. Nigerian gossip bloggers were wild. They made life hell for stars like Tonto, Ini, and Genevieve.)

    As Mercy began having kids, she slowly withdrew from the spotlight—but her old controversies kept resurfacing. In 2019, Sonia Ogiri spoke up about how Mercy had allegedly blocked her from landing acting roles. Sonia said she even had to beg Mercy for forgiveness. But by then, Mercy had rebranded and was loved by the public, so Sonia got dragged online for daring to speak out.

    In 2020, Davido dropped a cryptic but cutting comment under Eniola Badmus’ congratulatory post for Mercy and her husband’s new baby. “Wicked people… congrats though,” he wrote. When asked about it, he added, “Nothing. Just evil set of people.” Neither Mercy nor her husband addressed the remarks, though he did later deny the baby news.

    Then in 2021, Mercy’s daughter, Purity, was allegedly targeted by a teacher who confessed that her grudge was with Mercy, not the child. No one ever disclosed what sparked that resentment.

    Now in 2025, Mercy is visibly slimmer, and fans are beginning to question if her weight loss is really by choice. On June 3rd, Angela Okorie went live on Instagram and claimed that Mercy is seriously ill. She urged her to seek forgiveness from those she’d wronged.

    Today, Regina Daniels has jumped into the fray to defend Mercy, whom she calls her godmother. She’s dragging Angela left and right online. But Angela is unmoved—she maintains her advice stands and says Mercy needs to make peace with her past.

    Honestly, Regina should sit this one out.

    Angela may be controversial, but she’s been around long enough to know things Regina doesn’t. It would be wiser for Regina to focus on her own journey—especially with a baby on the way (yes, Ned said so in his anniversary post)—and let the veterans handle their unresolved issues.

    This isn't her fight.

    The whole situation is complicated and layered, which is why those who witnessed the beginning of it all are keeping quiet and watching from the sidelines.
    Regina should steer clear of this drama. Angela and Mercy go way back—about two decades, in fact. Regina was barely out of diapers when all this started, so it’s unlikely she can grasp the depth of whatever’s simmering between these two seasoned actresses. Mercy’s career took flight in 2004 when eight of Nollywood’s top stars—names like Omotola, Genevieve, RMD, and Jim Iyke—were temporarily blacklisted for demanding higher pay. That one-year suspension gave rising talents like Mercy Johnson, Ini Edo, and Stephanie Okereke a golden opportunity to shine. Before that, they were mostly stuck playing side characters or friends of the lead. Adding to Mercy’s luck, Genevieve didn’t return to acting until 2006 when she starred in *Girls Cot*. By that time, Mercy had already stolen the spotlight. She wasn’t just skilled—she had the figure and on-screen charm that fit the era’s favorite roles: queens, village belles, university girls, and the dangerous beauty with secrets. However, with more fame came more friction. Her first public altercation was in 2010 with Patience Ozokwor. Witnesses claimed Patience criticized a costume and threw subtle shade, saying she wasn’t about to wear something “Mercy-style.” Mercy heard and went off. The following year, she reportedly butted heads with Mike Ezuruonye. She’d arrived late to a shoot, and Mike called her out on it, reminding her of the humility she once had. That didn’t sit well with Mercy, who allegedly refused to rehearse lines with him afterward. 2011 was also the year she married Prince Odianosen Okojie, even though he was still legally married to someone else at the time. That marriage added more fuel to the bad-girl image that followed her. Soon after, Mercy made headlines again for allegedly smashing a crew member’s phone. The story goes that the young woman had been recording a romantic scene, and Mercy suspected the footage was meant for gossip blogs as “proof” of infidelity. (Back then, I was on Mercy’s side. Nigerian gossip bloggers were wild. They made life hell for stars like Tonto, Ini, and Genevieve.) As Mercy began having kids, she slowly withdrew from the spotlight—but her old controversies kept resurfacing. In 2019, Sonia Ogiri spoke up about how Mercy had allegedly blocked her from landing acting roles. Sonia said she even had to beg Mercy for forgiveness. But by then, Mercy had rebranded and was loved by the public, so Sonia got dragged online for daring to speak out. In 2020, Davido dropped a cryptic but cutting comment under Eniola Badmus’ congratulatory post for Mercy and her husband’s new baby. “Wicked people… congrats though,” he wrote. When asked about it, he added, “Nothing. Just evil set of people.” Neither Mercy nor her husband addressed the remarks, though he did later deny the baby news. Then in 2021, Mercy’s daughter, Purity, was allegedly targeted by a teacher who confessed that her grudge was with Mercy, not the child. No one ever disclosed what sparked that resentment. Now in 2025, Mercy is visibly slimmer, and fans are beginning to question if her weight loss is really by choice. On June 3rd, Angela Okorie went live on Instagram and claimed that Mercy is seriously ill. She urged her to seek forgiveness from those she’d wronged. Today, Regina Daniels has jumped into the fray to defend Mercy, whom she calls her godmother. She’s dragging Angela left and right online. But Angela is unmoved—she maintains her advice stands and says Mercy needs to make peace with her past. Honestly, Regina should sit this one out. Angela may be controversial, but she’s been around long enough to know things Regina doesn’t. It would be wiser for Regina to focus on her own journey—especially with a baby on the way (yes, Ned said so in his anniversary post)—and let the veterans handle their unresolved issues. This isn't her fight. The whole situation is complicated and layered, which is why those who witnessed the beginning of it all are keeping quiet and watching from the sidelines.
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  • “The $100 million we invested in Iroko TV was a mistake. If I had another opportunity, I would not do it again.”

    Jason Njoku shares his terrible, brutal experience running Iroko TV.

    Let's read him:

    STREAMING IN NIGERIA. DID THE MARKET WIN?

    Iroko’s first funding was in August 2011; our mandate was to build a large streaming business in Nigeria.

    Tiger Global believed that one of the largest growth areas would be online entertainment, and like most content, the winners would be local content in large domestic markets.

    They invested $200 million in Netflix back in 2010 and then invested in IVI in Russia, YY in China, Netmovies in Brazil, and us in Nigeria.

    With super-expensive data bundles and inelegant payment options (I remember waiting for Interswitch to enable us to integrate), our market took a while to mature. In most opportunities, you can be too early or too late; only in hindsight can you gauge when the best time to strike would be. iROKOtv was very early when we launched in 2011, but we were fortunate that there was a ready-made international market in the diaspora who were willing to pay and able to overcome any technical hurdles (payment/bandwidth/devices) to enable us to at least generate a sizable income.

    We actually waited until 2015 (four years post-launch), building the product, securing a sizable content library, and assembling a team to attempt to take on Nigeria and Africa. Between the revenues we generated and the venture capital we raised ($35 million) over the first ten years, we easily spent $100 million trying to win.

    But we weren’t winning; we weren’t really losing either. We were just there, in full survival mode, operating in the toughest conditions possible. Streaming, even domestically, is a scale game.

    Africa wasn’t immune to those costs. It’s incredibly expensive across marketing, content, delivery, and product platforms. Our largest, most serious competitors were Showmax, Netflix, Amazon, and Iflix. Collectively, they easily invested $1 billion or more from 2015 to 2023.

    During that period, we often had tense board meetings about why iROKOtv wasn’t succeeding; it was challenging to feel that all my hard work and dedication were constantly reduced to “you’re not doing enough”.

    We have been, and remain, the most aggressive in trying to distribute content across Nigeria—deploying hundreds of manned kiosks, teams of outbound contact centre agents, creating agency networks, adjusting our product to prioritise Android downloads, and pioneering peer-to-peer file sharing.

    At one point, it dawned on me, and I finally shot back in a board meeting: if iROKOtv was losing, could they point to someone who was beating us? In the startup world, that’s usually the outcome of underperformance.

    You are simply being out-executed by a better-capitalised or higher-performing startup. In this case, there simply wasn’t anything anyone could point to to establish that.

    So my simple assertion was that the market was winning. In 2019, we went out to fundraise; for the first time, we used a bank, Stanbic IBTP, to support that.

    We were looking for $10-20 million to keep pushing into and across Africa with our outbound, agency, and kiosk models.

    I believed my tales of survival would inspire the (primarily) PE investors that we were going to be the eventual winners in a brutal, long-fought civil streaming war. Instead, they all largely concluded that perhaps there was no market there, that the unit economics were simply not viable at any reasonable scale.

    What they were all interested in was the ROK content, TV channels, and distribution business. It was straightforward (fewer than 30 employees), had clear revenue recognition (billion-dollar paid TV platforms – DStv, Multichoice, SKY, etc., with 3-5 year contracts in non-local currencies), and was amassing a sizable IP library funded by the same paid TV platforms. Once we separated out ROK, it was clear where the value lay in Iroko. It represented 80% of revenues and 25% of costs. EBITA margins of 35-40% were achieved without even realising it.

    The outcome of that fundraise was the $25 million partial exit (Iroko sold her shares; Mrs Njoku remains a significant shareholder in the studio) to Vivendi/Canal+.

    We closed in July 2019.

    Before the end of 2019, we had distributed $5 million as a special dividend and were primed to take on the world.

    Then COVID-19 happened. Streaming temporarily boomed in the West (our North American business tripled in subscriber growth), while Nigeria closed borders and grappled with peculiar economic principles (devaluations, FX windows, etc.).

    The local market in Nigeria simply collapsed. We saw it and stubbornly decided to keep investing and doubling down until we were all tapped out, having burnt through most of the post-exit capital. To save iROKOtv, we considered crowdfunding, an AIM LSE listing (you could raise $10-30 million easily back then) with relatively little revenue but a strong narrative.

    In the end, we raised $1.1 million in convertible notes, then recapped the company a year later and paid it back.

    In 2023, we finally accepted there was no market for paid premium services and exited Nigeria. We haven’t processed any Naira payments there in almost two years.

    As I humbly survey the wreckage of the last 15 years of streaming in Nigeria and Africa, it’s clear our (then $2k GDP per capita) was too small to support even a $5/mo product. It’s clear this wasn’t even a question of capital.

    Showmax alone continues to pour tens, if not hundreds, of millions to make it work. But the global giants tapped out last year; their costs (content and marketing) were clearly unsustainably high, and their product needed to be localised to make sense and actually work; it’s just not how platforms sustainably scale.

    So I wasn’t surprised when either Amazon or Netflix rolled back their considerable investments in Nigeria. $5/mo is a luxury I doubt even 250k can reliably afford in Nigeria.

    You can see the impact of what GOtv and DStv are suffering at the hands of the market. It’s okay that we tried and failed. It’s okay that we accept the limitations in the domestic market we find ourselves in. Did it need $1B+ to figure this out?

    Absolutely not. I believe, with my newfound knowledge, that iROKOtv could have reached the same conclusions with $5-10 million versus the $100 million+ we ended up investing.

    In hindsight, streaming wasn’t the winning model for Nollywood in Nigeria. Content, channels, and distribution were.

    With the economics that business had in 2018, we could have shut down iROKOtv and her $5 million/year in losses and either listed it or just had a fantastically profitable business.

    But I was a believer and walked away from millions of dollars in personal liquidity to put it all in to build streaming in Africa.

    My lessons were expensive, and that’s why I am so consistent in telling founders not to over-raise.

    I am not surprised by the story of Obi from Kobo360; I lobbied him pre-$30m raise not to raise too much capital or later on to seek a merger with his nearest competitor whilst they were engaged in a brutal price war.

    The unit economics and payment cycles were brutal, and capital wasn’t going to dramatically change the market dynamics, and it appeared that no one was really going to win that market. It’s only with deep, lived, and expensive experience that I can glance at unit economics coldly and get a feel for whether, with the usual macro turbulence, a startup has a better chance at long-term success.

    Nigeria is currently a massive drag on the entire operating business of Multichoice. Their most recent H1 reports indicate.

    Reminder that this is the largest pay platform in Africa, which is currently being acquired in a $2.8B deal.
    “The $100 million we invested in Iroko TV was a mistake. If I had another opportunity, I would not do it again.” Jason Njoku shares his terrible, brutal experience running Iroko TV. Let's read him: STREAMING IN NIGERIA. DID THE MARKET WIN? Iroko’s first funding was in August 2011; our mandate was to build a large streaming business in Nigeria. Tiger Global believed that one of the largest growth areas would be online entertainment, and like most content, the winners would be local content in large domestic markets. They invested $200 million in Netflix back in 2010 and then invested in IVI in Russia, YY in China, Netmovies in Brazil, and us in Nigeria. With super-expensive data bundles and inelegant payment options (I remember waiting for Interswitch to enable us to integrate), our market took a while to mature. In most opportunities, you can be too early or too late; only in hindsight can you gauge when the best time to strike would be. iROKOtv was very early when we launched in 2011, but we were fortunate that there was a ready-made international market in the diaspora who were willing to pay and able to overcome any technical hurdles (payment/bandwidth/devices) to enable us to at least generate a sizable income. We actually waited until 2015 (four years post-launch), building the product, securing a sizable content library, and assembling a team to attempt to take on Nigeria and Africa. Between the revenues we generated and the venture capital we raised ($35 million) over the first ten years, we easily spent $100 million trying to win. But we weren’t winning; we weren’t really losing either. We were just there, in full survival mode, operating in the toughest conditions possible. Streaming, even domestically, is a scale game. Africa wasn’t immune to those costs. It’s incredibly expensive across marketing, content, delivery, and product platforms. Our largest, most serious competitors were Showmax, Netflix, Amazon, and Iflix. Collectively, they easily invested $1 billion or more from 2015 to 2023. During that period, we often had tense board meetings about why iROKOtv wasn’t succeeding; it was challenging to feel that all my hard work and dedication were constantly reduced to “you’re not doing enough”. We have been, and remain, the most aggressive in trying to distribute content across Nigeria—deploying hundreds of manned kiosks, teams of outbound contact centre agents, creating agency networks, adjusting our product to prioritise Android downloads, and pioneering peer-to-peer file sharing. At one point, it dawned on me, and I finally shot back in a board meeting: if iROKOtv was losing, could they point to someone who was beating us? In the startup world, that’s usually the outcome of underperformance. You are simply being out-executed by a better-capitalised or higher-performing startup. In this case, there simply wasn’t anything anyone could point to to establish that. So my simple assertion was that the market was winning. In 2019, we went out to fundraise; for the first time, we used a bank, Stanbic IBTP, to support that. We were looking for $10-20 million to keep pushing into and across Africa with our outbound, agency, and kiosk models. I believed my tales of survival would inspire the (primarily) PE investors that we were going to be the eventual winners in a brutal, long-fought civil streaming war. Instead, they all largely concluded that perhaps there was no market there, that the unit economics were simply not viable at any reasonable scale. What they were all interested in was the ROK content, TV channels, and distribution business. It was straightforward (fewer than 30 employees), had clear revenue recognition (billion-dollar paid TV platforms – DStv, Multichoice, SKY, etc., with 3-5 year contracts in non-local currencies), and was amassing a sizable IP library funded by the same paid TV platforms. Once we separated out ROK, it was clear where the value lay in Iroko. It represented 80% of revenues and 25% of costs. EBITA margins of 35-40% were achieved without even realising it. The outcome of that fundraise was the $25 million partial exit (Iroko sold her shares; Mrs Njoku remains a significant shareholder in the studio) to Vivendi/Canal+. We closed in July 2019. Before the end of 2019, we had distributed $5 million as a special dividend and were primed to take on the world. Then COVID-19 happened. Streaming temporarily boomed in the West (our North American business tripled in subscriber growth), while Nigeria closed borders and grappled with peculiar economic principles (devaluations, FX windows, etc.). The local market in Nigeria simply collapsed. We saw it and stubbornly decided to keep investing and doubling down until we were all tapped out, having burnt through most of the post-exit capital. To save iROKOtv, we considered crowdfunding, an AIM LSE listing (you could raise $10-30 million easily back then) with relatively little revenue but a strong narrative. In the end, we raised $1.1 million in convertible notes, then recapped the company a year later and paid it back. In 2023, we finally accepted there was no market for paid premium services and exited Nigeria. We haven’t processed any Naira payments there in almost two years. As I humbly survey the wreckage of the last 15 years of streaming in Nigeria and Africa, it’s clear our (then $2k GDP per capita) was too small to support even a $5/mo product. It’s clear this wasn’t even a question of capital. Showmax alone continues to pour tens, if not hundreds, of millions to make it work. But the global giants tapped out last year; their costs (content and marketing) were clearly unsustainably high, and their product needed to be localised to make sense and actually work; it’s just not how platforms sustainably scale. So I wasn’t surprised when either Amazon or Netflix rolled back their considerable investments in Nigeria. $5/mo is a luxury I doubt even 250k can reliably afford in Nigeria. You can see the impact of what GOtv and DStv are suffering at the hands of the market. It’s okay that we tried and failed. It’s okay that we accept the limitations in the domestic market we find ourselves in. Did it need $1B+ to figure this out? Absolutely not. I believe, with my newfound knowledge, that iROKOtv could have reached the same conclusions with $5-10 million versus the $100 million+ we ended up investing. In hindsight, streaming wasn’t the winning model for Nollywood in Nigeria. Content, channels, and distribution were. With the economics that business had in 2018, we could have shut down iROKOtv and her $5 million/year in losses and either listed it or just had a fantastically profitable business. But I was a believer and walked away from millions of dollars in personal liquidity to put it all in to build streaming in Africa. My lessons were expensive, and that’s why I am so consistent in telling founders not to over-raise. I am not surprised by the story of Obi from Kobo360; I lobbied him pre-$30m raise not to raise too much capital or later on to seek a merger with his nearest competitor whilst they were engaged in a brutal price war. The unit economics and payment cycles were brutal, and capital wasn’t going to dramatically change the market dynamics, and it appeared that no one was really going to win that market. It’s only with deep, lived, and expensive experience that I can glance at unit economics coldly and get a feel for whether, with the usual macro turbulence, a startup has a better chance at long-term success. Nigeria is currently a massive drag on the entire operating business of Multichoice. Their most recent H1 reports indicate. Reminder that this is the largest pay platform in Africa, which is currently being acquired in a $2.8B deal.
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  • The Labour Party (LP) national caretaker committee, led by Senator Nenadi Usman, has expressed its support for the party’s 2023 presidential candidate, Peter Obi, in engaging in ongoing coalition discussions with various opposition leaders in the country.

    Even if the Labour Party did not officially back Peter Obi, I believe he will still join the coalition, as that is the only way to unseat Tinubu in 2027.

    As I mentioned before, many politicians are considering switching parties and are simply waiting for the coalition to be finalized.

    The governor of Benue State has already hinted at his willingness to join the coalition, and it seems likely he will do so.

    In 2027, Peter Obi could emerge as our new president or vice president under this new coalition party—mark my words.

    As a political journalist, I have a clear understanding of the current dynamics. The APC is also facing internal crises, and it is possible that Shettima may not return as vice president in 2027.
    The Labour Party (LP) national caretaker committee, led by Senator Nenadi Usman, has expressed its support for the party’s 2023 presidential candidate, Peter Obi, in engaging in ongoing coalition discussions with various opposition leaders in the country. Even if the Labour Party did not officially back Peter Obi, I believe he will still join the coalition, as that is the only way to unseat Tinubu in 2027. As I mentioned before, many politicians are considering switching parties and are simply waiting for the coalition to be finalized. The governor of Benue State has already hinted at his willingness to join the coalition, and it seems likely he will do so. In 2027, Peter Obi could emerge as our new president or vice president under this new coalition party—mark my words. As a political journalist, I have a clear understanding of the current dynamics. The APC is also facing internal crises, and it is possible that Shettima may not return as vice president in 2027.
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  • I saw a video of Veekee James making a wedding dress few hours to a wedding party simply because the one she had initially planned to wear didn’t come out as expected.

    It was an orange lovely dress.

    I had to watch the video thrice to see what was actually wrong with that dress she rejected for the other.

    ..puffed up space at the lower zip region and an uneven stitch in a slit….

    I eventually saw what she was unsatisfied about.

    Now, any normal Nigerian lady would have said in that lovely dress, “It’s not that bad.” And family and friends would have concurred, “It’s not even visible, unless the person comes close. Wear your thing jare.”

    BUT THEN! This was VEE KEE JAMES.

    Not the Ajegunle VeeKee — the Forbes VJ Brand.

    When it comes to fashion, she knows now that it is no longer only about her, but now about the BRAND.

    She had an image to protect and a brand to represent. It had to be excellence or nothing. And excellence never goes for better when there can be best. Never condones “manage it” when there can be perfection.

    Anyone could have easily walked up to her in the party and seen that — it would have been sore. And we all know how life happens, the day you decide to manage a thing is the day it gets out unashamedly.

    So, that was a beautiful value displayed there.

    That video alone gained lots of tractions. It just gave people more reason to trust in that brand — if she can choose perfection in the last minute and beat it hands down, then I can trust her with my look and fit for I know now that VeeKee would do anything to make sure it fits!

    You see that value?

    That’s what every one should bring to the table when they are called.

    In your business…in your life…in every area your prioritize .

    It should be excellence or nothing.
    I saw a video of Veekee James making a wedding dress few hours to a wedding party simply because the one she had initially planned to wear didn’t come out as expected. It was an orange lovely dress. I had to watch the video thrice to see what was actually wrong with that dress she rejected for the other. ..puffed up space at the lower zip region and an uneven stitch in a slit…. I eventually saw what she was unsatisfied about. Now, any normal Nigerian lady would have said in that lovely dress, “It’s not that bad.” And family and friends would have concurred, “It’s not even visible, unless the person comes close. Wear your thing jare.” BUT THEN! This was VEE KEE JAMES. Not the Ajegunle VeeKee — the Forbes VJ Brand. When it comes to fashion, she knows now that it is no longer only about her, but now about the BRAND. She had an image to protect and a brand to represent. It had to be excellence or nothing. And excellence never goes for better when there can be best. Never condones “manage it” when there can be perfection. Anyone could have easily walked up to her in the party and seen that — it would have been sore. And we all know how life happens, the day you decide to manage a thing is the day it gets out unashamedly. So, that was a beautiful value displayed there. That video alone gained lots of tractions. It just gave people more reason to trust in that brand — if she can choose perfection in the last minute and beat it hands down, then I can trust her with my look and fit for I know now that VeeKee would do anything to make sure it fits! You see that value? That’s what every one should bring to the table when they are called. In your business…in your life…in every area your prioritize . It should be excellence or nothing.
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  • This dude here is the world's most apt example that a man's greatest victory is to conquer his own self. More to the point in his case, P Diddy conquered the world in music, fashion and other lucrative business moves and made billions for himself and his stakeholders and associates.

    However, he's in the process of losing it all...including himself. Simply because he failed to conquer the greatest prize of all: his whims, desires and internal gremlins.

    A hobo who can control his testicles and penis is more successful than a billionaire who is under the control of his ****. I mean, what's the point of gaining all that wealth and acclaim, only to surrender it all because of that organ which releases dirty water?

    Assuming that he is being set up,..in this world of countless threats for a black man, why expose your weaknesses to your enemies if you are such an all-conquering personality?

    But we move
    This dude here is the world's most apt example that a man's greatest victory is to conquer his own self. More to the point in his case, P Diddy conquered the world in music, fashion and other lucrative business moves and made billions for himself and his stakeholders and associates. However, he's in the process of losing it all...including himself. Simply because he failed to conquer the greatest prize of all: his whims, desires and internal gremlins. A hobo who can control his testicles and penis is more successful than a billionaire who is under the control of his dick. I mean, what's the point of gaining all that wealth and acclaim, only to surrender it all because of that organ which releases dirty water? Assuming that he is being set up,..in this world of countless threats for a black man, why expose your weaknesses to your enemies if you are such an all-conquering personality? But we move 🤝
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  • From The Hearthland

    ₦500
    A vibrant collection of poems that captures the heart, humor, and humanity of Nigeria.

    In From the Hearthland, Orode Ajuwaghan invites readers on a poetic journey through the rich tapestry of Nigerian life. Blending wit, warmth, and deep reflection, these 14 poems explore the rhythms of a nation and the emotions of its people.

    From the bustling markets and noisy streets to quiet moments of personal thought, each poem offers a snapshot of what it means to live, love, laugh, and hope as a Nigerian. Some poems will make you smile at familiar quirks; others will gently nudge you to reflect on life’s deeper questions. Together, they paint a picture of a country that is as complex as it is beautiful.

    Whether you are Nigerian or simply curious about the culture and spirit of this vibrant nation, From the Hearthland delivers stories that feel both personal and universal.

    Inside this book you will find:
    – Poems about Nigerian culture, community, and everyday life
    – Humorous verses that celebrate our unique ways of living and loving
    – Reflective poems on personal growth, resilience, and belonging
    – A celebration of the beauty, struggles, and strength of Nigeria and its people

    Perfect for lovers of poetry, African literature, and anyone seeking to connect with the soul of Nigeria, this collection is a heartfelt tribute to the hearthland we call home.

    Open the pages and step into a Nigeria that laughs, reflects, and lives boldly.
    A vibrant collection of poems that captures the heart, humor, and humanity of Nigeria. In From the Hearthland, Orode Ajuwaghan invites readers on a poetic journey through the rich tapestry of Nigerian life. Blending wit, warmth, and deep reflection, these 14 poems explore the rhythms of a nation and the emotions of its people. From the bustling markets and noisy streets to quiet moments of personal thought, each poem offers a snapshot of what it means to live, love, laugh, and hope as a Nigerian. Some poems will make you smile at familiar quirks; others will gently nudge you to reflect on life’s deeper questions. Together, they paint a picture of a country that is as complex as it is beautiful. Whether you are Nigerian or simply curious about the culture and spirit of this vibrant nation, From the Hearthland delivers stories that feel both personal and universal. Inside this book you will find: – Poems about Nigerian culture, community, and everyday life – Humorous verses that celebrate our unique ways of living and loving – Reflective poems on personal growth, resilience, and belonging – A celebration of the beauty, struggles, and strength of Nigeria and its people Perfect for lovers of poetry, African literature, and anyone seeking to connect with the soul of Nigeria, this collection is a heartfelt tribute to the hearthland we call home. Open the pages and step into a Nigeria that laughs, reflects, and lives boldly.
    In stock ·Digital ·New
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