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Doesn't RecommendNegative OutlookDisapproves of CEO
- Work/Life Balance
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- Senior Management
I worked at Rêv Worldwide full-time
The company told an attractive story - a "double bottom line" focusing on social impact as much as financial bottom line; a mission to empower the poorest by reducing exorbitant fees charged by prepaid instrument issuers; and a focus on mobile payments.
Flawed execution and founders' immaturity messed up the execution of these ideals. Firstly, it was soon apparent that the 'social impact' agenda was just PR, which was dropped as soon as the primary driver - the Chief of Staff - left the company. The mission of serving the poor was never addressed, instead focusing on easy pickings like travel programs. The founders bought in serious funding, but paid themselves $m salaries (for a pre-revenue startup). They traveled the world first class, when salaries were seriously delayed. The investors took action when they discovered the CEO's tendency to creatively interpret data, and promoted the CEO of Rev Europe to run the company. John Mitchell was doing a good job bringing about transparency and turning around operations, when the former CEO regained board control, had John sacked and had took over by proxy. Since then, all senior management executives have quit. Rev has started shutting down existing programs and is scaling back to US and NZ programs only.
Advice to Management
Since my opinion is that the current management _is_ the problem, there's no advise I can give them.