According to a press release, Bastian Gotter, co-founder of Iroko will be leaving the company.
Gotter who had spent four years in the company was the original seed investor. Investing $150,000 for a 50% stake in 2010, Gotter also worked as the COO/CFO of the company which has grown tremendously and also raised $33 million from new and existing investors.
During his tenure at the African entertainment and tech company with his co-founder, Jason Njoku, Gotter has been pivotal in the company’s meteoric growth, having raised an additional $33Mn from new and existing investors, and has also overseen key organisational infrastructure and built out a number of the company’s tech functions. In conjunction with his work at iROKO, Gotter and his business partner, Njoku, have seed invested in Lagos-based tech start-ups through Spark, their $2.5M investment platform. Together, they have invested in and worked with some of Nigeria’s hottest technology companies, including Hotels.ng and ToLet.com.ng, both of whom have gone on to raise additional investment rounds.
Jason Njoku, CEO and co-founder stated, “iROKO would not be the company it is today, without Bastian’s seed investment and faith in me to ‘figure out Nollywood’. In 2010, Bastian put his money where my mouth was, and together we embarked on the huge adventure of building an African entertainment brand that has changed the face of media consumption on the continent forever. This is no small feat.
“Everyone at iROKO, the board, and our investors, thank him for his unswerving commitment to helping build iROKO, and we wish him all the very best on his new journey. The companies he goes on to work with and invest in will find an experienced, dedicated and shrewd partner”.
Gotter will be replaced by Lauren Miller, who brings with her, many years of experience in top roles at Millicom, Paramount, Vodacom, JP Morgan & Chase and Warner Brothers. She would be working from the company’s London Office. The changes will take effect this January.