This comes after the company secured US$8 million (€6.4 million) in funding from US-based hedge fund Tiger Global, an early investor in Facebook. The company, which is based in Lagos, Nigeria and has offices in London and New York, offers a raft of Nollywood films to the African Diaspora, with viewers from 178 countries around the world.
In July, iRokotv, which launched in December 2011, is launching a subscription service where viewers will be able to retain free access to the current catalogue of Nollywood films but will also be able to watch brand new releases for US$5 per month.
Jason Njoku, CEO and founder of iRoko said: “What an incredible six months it has been for iRokotv – 500,000 registered users in under six months is an awesome feat for us. We are a relatively young start-up and are super excited to have built up such momentum in such a short space of time.