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Once promising Fintech company is now just another stodgy specialty finance company

Senior Software Engineer
Current Employee
Has worked at LendingClub for 2 years
July 21, 2017
San Francisco, CA
4.0
Pros
  • Current CEO is a genuinely nice guy who always tries to do what is right for the employees and the customers, both borrowers and investors.
  • Benefits are pretty decent and, other than no free lunch, are better than at a startup.
  • Very liberal-minded organization that is sensitive about gender and racial equality.
  • Free snacks, a gourmet coffee bar, onsite gym, and massage, etc.
  • Very good work-life balance.
  • If you enjoy working at a bank, this place is better than a bank.
Cons
  • No sense of urgency as a business and the exec team has an over-inflated view of the company as a "market leader". No hunger to be great. Just wants to be ok and survive.
  • The exec team, mainly the CEO and COO, are big talkers but poor at execution. The stock price has been a dud for so long, which proves all the kool-aid talk is just fake news.
  • Company moves like an old credit union rather than a tech startup.
  • Bureaucracy of processes and there is a lack of innovation or exciting projects that attracts tech talent.
  • Because of the sucky stock price and lack of a compelling vision, employees are leaving in droves and the caliber of people it is attracting in its tech pool are not exactly the best and the brightest.
Advice to Management

Execute. Execute. Execute. And let the stock price do the talking for you.

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