The Death of iROKO

So we announced a new chunk of money. Cause for celebration you would think? Yes and No.
What has surprised me the most about our recent fund raise is people’s surprise locally (read Nigeria) at our health and apparent ability to actually raise money. It appears most people suspected iROKO was on its death bed. I guess the iROKING saga wetted peoples appetite for iROKO’s imminent death.
Consequently the announcement mutated into something of speculation and conspiracy. Bastian and I no longer own the company! Tiger Global are poised to fire them! We raised the money to pay off debts! Why are there no new investors? Who’s this Rise Capital? But isn’t a valuation ~$50Mn too small (imagine)! Is it a ruse to dilute the MTN/Rocket deal! This is a covert way to buy more companies for Spark! Wait, what?! How?
The juxtaposition is we were featured in The WSJ, Techcrunch and Forbes whom lauded this as a true African internet success story. The actual players in the technology and media spa...