Nollywood is all drama. This is pretty dramatic as it can get I think in startup world. In September 2016 we had just completed a gruelling 4 month due diligence process and we were due to sign our biggest pure cash fundraise yet. We had other interested parties but this investor, this deal, was the deal to shake the world (at least our little world). This was the deal of deals. Then it didn’t happen. Just like that. They pulled the term sheet. Naira devaluation spooked the investor and our dreams turned to ashes. From that moment onwards, and up until the ROK acquisition, IROKOtv has been in a near constant death dance to stay ahead of her likely demise. I have said too many times — this Market is BRUTAL and only the toughest have a mild chance of surviving. Just this week in SVOD news…
Iflix: the ‘emerging market Netflix’ limps towards an anti-climactic IPO
The Netflix-like service for emerging markets has — fittingly for a platform for drama — had a rollercoaster ride...