Thinknum Alternative Data Update : Interview With Former Employee

Thinknum Alternative Data Update : Interview With Former Employee 

Thinknum had presented themselves as the “Bloomberg of Alternative Data”. But the reality for one recent employee was anything but such an experience. 

 Why did you leave the company?

“I left because I didn’t want to be associated with a tarnished brand. As well, I did not like how they treated former and current employees and I did not believe in the future of the company. The event exposed flaws in the product which caused me to lose faith in the company and management.”

Please explain?

“Thinknum had a complete lack of communication. They never explained the details of what actually happened. They never provided a roadmap for the future. And they never provided information on if/when they will pay their employees. There are people who have been with the company for several years and were just let go without any clarification on what’s happening, nor if they will be paid. ”

Can you give us any color on the business and its health?

The former employee told us:

“First, I don’t understand how a business can operate without paying employee salaries. Then, how can you trust a CEO who was so negligent in his oversight that he didn’t know that the company accounts were depleted. Who would want to work or invest in a business like that?  

I do know that several clients have terminated their relationships. Whether that is because they don’t want to be associated with a scandal, or the product was misrepresented to them, or they just weren’t finding value in it. I don’t know the answer, but I do know that clients are not happy.” 

We asked for the former employee to explain this statement a little bit more:

“Thinknum claims to have over 35 up to date data sets’. However there are only about 5 or 6 data sets that anyone uses and maintained on a regular basis. Most of the datasets are stale or provide minimal value to investors.”

We asked the former employee about the work environment at Thinknum:

“Thinknum is a volatile work environment with tremendous turnover. Even for a startup fintech data company, tremendous turnover. Look at the Glassdoor reviews, they’re terrible. I was warned about the culture before I started, but I was blinded by the prospects, brand name and marketing power of the firm.”

As for the future of the company, the former employee believes the VC/PE backers will likely recapitalize Thinknum and try and resurrect what value they can and told us:

“Thinknum is cutting prices to try and attract new people to the platform. They are still publishing marketing articles. There are a handful of employees still working there. But, there are better products on the market and they still have not paid their employees.”

In addition, see our previous piece: Alternative Data Firm Thinknum Faces Problems

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Thinknum Alternative Data Update : Interview With Former Employee