- 17Live CEO Alex Lien steps down for personal reasons.
- Phua returns to accelerate growth by expanding innovative V-Liver virtual livestreaming feature.
- Despite post-COVID challenges, 17Live achieved $151M H1 2023 revenue via cost-saving advertising measures.
Leadership shift at 17Live
Livestreaming platform 17Live undergoes a leadership transition as CEO and Executive Director Lien Chien-Lin, known as Alex Lien, steps down from his role citing personal family matters.
In a recent statement, the company revealed that Lien will continue to contribute as a senior adviser during a one-year transition period.
Effective January 26, co-founder and non-executive chairman Joseph Phua will succeed Lien in the CEO position, marking his return after previously serving in the role from September 2016 to June 2020.
Joseph Phua takes the helm
With a vision for accelerating the company’s growth, Joseph Phua aims to focus on expanding the innovative V-Liver feature, allowing livestreamers to create virtual characters.
Formerly known as M17 Entertainment, 17Live emerged in 2017 through a merger between app developer Paktor Group and streaming company 17 Media.
In a significant move, the company merged with blank-check firm Vertex Technology Acquisition Corporation, achieving the first completed SPAC transaction on the Singapore Exchange in December 2023.
Growth trajectory
Despite market challenges following the Covid-19 impact, 17Live reported $151 million in revenue for the first half of 2023, accompanied by a strategic 22% reduction in operating expenses to $50.1 million, attributed to prudent cost-saving measures in advertising.
Operating in diverse regions, including Japan, Taiwan, Hong Kong, and several Southeast Asian countries, 17Live is poised for continued success under Phua’s leadership.
