Paktor Group has appointed co-founder and chief technology officer Ng Jing Shen (pictured) as CEO of Paktor Group, taking over from current CEO Joseph Phua.
Phua will remain the group CEO of M17 Entertainment, a social entertainment company which merged with Paktor. During his time as CTO and acting CEO of the Paktor Group, Ng delivered record user growth propelled by market entry into South Korea, according to the press statement.
Under his leadership, global revenue tripled, resulting in Paktor Group's business becoming profitable for the first time since its inception in 2014. The fundraising campaigns led by Ng have raised a total of US$53 million, and he also rebranded and revamped the features of the mobile app, which resulted in improved product-market-fit, user growth, app stickiness and effective monetisation.
Prior to co-founding the Paktor app, Ng was a software engineer at Amazon in Seattle, and was part of the core team that developed and launched Amazon Web Services marketplace.
“Phua has been a great steward of Paktor Group by initiating the right strategy and thoughtful succession plan for long-term success. I am delighted to serve as the new CEO of Paktor Group and greatly inspired to grow Paktor into a strong global brand. I look forward to working closely with my team to achieve the vision of bringing matchmaking into the 21st century by disrupting how people date and introducing innovative dating solutions which are unique to the marketplace," Ng said.
Meanwhile, the company promoted current head of operations Shn Juay to chief operating officer at Paktor Group. Reporting to Ng, Shn will lead the company's day-to-day operations, strengthening the Paktor brand and capitalising on emerging opportunities in the dating space.
Shn joined Paktor Group in 2015 as head of marketing before moving on to become the head of operations after two years. In that role, she oversaw the marketing, human resources and business operations for all business units' for a year before her latest appointment.
Ng and Shn will focus on streamlining operational execution across the global business to further improve customer satisfaction. The streamlining process will also ensure Paktor Group has the right culture, strategic processes and nimbleness to react to market shifts. Both individuals will also expand the business into new markets and look to transform Paktor Group into Asia's dating powerhouse.
“I’ve had the opportunity to experience Paktor’s rapid growth over the last three years and am excited about the new career opportunity which Paktor management team has provided me. I have developed a deep appreciation for Paktor’s people, company values and founders’ vision over the past years and I look forward to working with everyone tied to Paktor during this hypergrowth period,” Shn said.
“Having worked closely with Ng since the founding of Paktor app, I am certain that his expertise with our company values and technology system, coupled with an acute understanding of evolving market trends in the dating space make him the absolute right choice to effectively lead our company. Ng has the strategic vision and inspirational leadership to usher in the next phase of growth for the business," Phua said.
“Shn has proven herself to be effective at translating strategy into world- class execution, bringing together teams and ecosystems to drive results. Her track record of maximizing cost efficiency and building dynamic global teams makes her an ideal fit for the chief operating officer role which I believe she will thrive with the greater responsibility," Phua added.