<article>Singapore startup venture <a style="color: #000080;" href="http://dealstreetasia.com/tag/paktor-group" target="_blank">Paktor Group</a> has appointed <a style="color: #000080;" href="http://linkedin.com/in/shangkoo" target="_blank">Shang-Hsiu Koo</a> to be Chief Financial Officer (CFO) for the company.</article>

Singapore startup venture <a style="color: #000080;" href="http://dealstreetasia.com/tag/paktor-group" target="_blank">Paktor Group</a> has appointed <a style="color: #000080;" href="http://linkedin.com/in/shangkoo" target="_blank">Shang-Hsiu Koo</a> to be Chief Financial Officer (CFO) for the company.
The CFO role was previously unfilled. The appointment of Koo brings to Paktor Group more than 10 years of executive experience working with both public and private companies across the digital and financial sectors. Earlier, he served as the CFO at NASDAQ-listed Jiayuan.com for six years and took the company public in 2011.
Prior to joining Jiayuan, Koo worked as an equity research analyst at Piper Jaffray, Oppenheimer &amp; Co., and Pacific Epoch, covering China online games and media.
Speaking about joining Paktor Group, Koo stated: “I am excited to join the largest social entertainment and dating company in Southeast Asia and Taiwan. Live streaming and dating in Southeast Asia and Taiwan is in its early stages but will become a multi-billion-dollar business in the next few years. I look forward to helping the company invest and grow its operations in the region.”
Since its founding in 2013, Paktor Group has expanded beyond Singapore to the rest of Southeast Asia and Taiwan, becoming the largest social dating group in the region. The company recently acquired a controlling stake in Taiwan live streaming company 17 Media to expand its business to social entertainment. Along with its other acquisitions in social dating such as Down, Inc and Goodnight, the group’s social entertainment and dating assets combine for 20 million users in Asia.
Joseph Phua, CEO of Paktor Group / 17 Media said, “The appointment of Shang-Hsiu is a big boost to our plans in becoming a dominant player in the global social entertainment and dating scene. With his previous experience as CFO at Jiayuan, I believe Paktor Group’s financial planning as well as financial management are in good hands. We are excited to have him on board to contribute in the growth of the company and guide us to the next stage”.
According to a TechCrunch <a style="color: #000080;" href="https://techcrunch.com/2014/10/22/1071706/" target="_blank">article</a>, traditionally the right time to recruit a CFO was when meaningful revenue was reached and/or the company was preparing for an initial public offer (IPO). This is an observation supported by a flurry of IPOs by US startups in 2014 and the <a style="color: #000080;" href="http://blogs.wsj.com/cfo/2014/03/17/startups-vie-to-attract-an-ipo-hero/" target="_blank">high demand for CFOs it saw</a>.
TechCrunch observes: &#8220;Hiring a CFO doesn’t make much sense for most startups until they achieve “meaningful revenue”; annual revenues hit about $100 million or more; until the founders and board started planning seriously for an IPO; or other significant liquidity event. The old rules suggest it wasn’t the right time until you were 12 to 18 months away from an expected IPO roadshow, that you started looking for a finance chief.&#8221;
This may not necessarily be the case, with the role of CFO changing in recent times. Deloitte <a style="color: #000080;" href="https://www2.deloitte.com/us/en/pages/finance/articles/gx-cfo-role-responsibilities-organization-steward-operator-catalyst-strategist.html" target="_blank">observes</a> that contemporary CFOs have to operate in a multi-faceted role. But the fact that Koo previously served as CFO on a publicly listed corporation may suggest otherwise.
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Singapores Paktor Group has appointed Shang-Hsiu Koo as CFO. 

Singapore: Paktor Group appoints Shang-Hsiu Koo as CFO

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