Favor Beefs Up Executive Team, Adding New CFO

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Sep 23, 2015, 10:00 ET

AUSTIN, Texas, Sept. 23, 2015 /PRNewswire/ -- NeighborFavor, Inc., the operator of the popular Austin-based mobile app delivery service Favor, announced today the appointment of Steven Pho as Chief Financial Officer. Pho joins the executive team as the company prepares to further scale its operations and execute on its expansion strategy.

Pho joins Favor with 15 years of investment banking, business development and consumer Internet experience. He has advised and executed a full range of mergers and acquisitions and public and private capital financings ranging in value from $50 million to over $2 billion for growth companies in the technology industry. He was most recently the Senior Vice President of Corporate and Business Development at RetailMeNot, Inc. – where he was responsible for leading all global mergers and acquisitions and played a key role in the company's expansion into Europe and Canada. Prior to RetailMeNot, he served as Vice President of Internet and new media investment banking at Thomas Weisel Partners (now Stifel Nicolaus Weisel) in San Francisco. Previously, he was a member of the technology investment banking group at Houlihan Lokey Howard & Zukin.

"I'm excited to be joining a team so intensely focused on delivering a world-class user experience and service to it's customers and merchant partners," says Pho. "Favor's incredible growth has been remarkable to watch and I'm pleased to be joining the company at such a significant stage as it readies itself to launch in more cities."

"Steven brings an impressive financial and strategic track record to Favor, strengthening our leadership team as we prepare to accelerate our growth," says Jag Bath, Chief Executive Officer and President. "This is an exciting time for our company and we are thrilled to have an experienced and strategic leader like Steven join us."

Favor has gained a significant customer base in its more mature markets like Austin, Texas where it first launched in June 2013. The company boasts more than 600,000 deliveries this year through the end of August -- a number that has already more than tripled the total number of deliveries in 2014.

About Favor

Favor is the easiest way to get anything you want in your city delivered to your door in under an hour. Founded in Austin, Texas in 2013, Favor has quickly scaled to 12 cities across the US and Canada, including Austin, Atlanta, Boston, Dallas, Denver, Houston, Miami, Nashville, Fort Worth, San Antonio, San Marcos and Toronto. The company has grown to over 50 full time employees and has a fleet of over 3,000 part-time, tuxedo-t-shirt wearing runners across all its markets. The company has received $16.9 million in venture funding to date, and most recently received $13 million in Series A financing from S3 Ventures and Silverton Partners in March 2015. The investment will enable the Austin-based start-up to continue expanding their service aggressively in the U.S. and abroad.