Thor August 2018 Report


Reggie Clodfelter

Director of Communications at Thor
David Chin, CEO, Thor
Hello, fellow travelers! August has ended and summer is fading, though, winters in San Francisco are famously mild, and deservedly so! It may get muggy and temperate here, but it is nothing like around Grand Rapids Michigan, where I lived in the early 80’s.
In Grand Rapids, you would have to get up 20 minutes early just to turn your car on and let your engine heat up before you could take it on the road. You would start your car, scrape the ice off the windshield, turn on the defrost, and then give the engine a little time to get humming. That feeling of being on the verge of taking off — but waiting for the engine to be ready — is one I have been experiencing a lot this past month.
We are really excited to officially announce Odin, our contractor management portal, in the coming weeks (see our sneak peak below) along with announcing Odin’s first customer, but we are still working on the finishing touches. On the healthcare front, we have our path towards Open Enrollment charted, we just need to keep chugging forward. Our next step is our Thor Rewards Referral Program, launched yesterday, and building our prospective pool of sign ups — and we’re excited to enlist the help of our army of Thorriors!
Summer has been a grind, but the work is still just beginning. We’ve got a lot of announcements in store for the stretch run in 2018, and it’s primed to be a pretty thrilling final four months of the year. We are getting so close, the engine is heating, and I can’t wait to put my foot on the pedal and get this puppy on the road — there’s no telling how far we can take it!
— David Chin, CEO, Thor

Technical Production

We have a new product coming soon! While the official announcement will not come until the product is fully ready to be implemented, we wanted to give our community a sneak peek.

Introducing Odin, our proprietary contractor management portal for On Demand businesses that employ 1099 contractors! Odin will be a modular software interface that will allow businesses to manage and track their inbound and outbound payments from customers and to contractors. It will be the first product of its kind built specifically for the On Demand economy.

Odin is a spin off of what we originally referred to as our “business portal,” which was the company-facing end of Lightning Pay™. But, as we spoke with companies interested in using our products, it became clear that there is a healthy demand for a payroll management system designed specifically for companies that rely heavily on contractors — whether or not that company is in a position to offer Lightning Pay. And what our customers want, we will provide!

We will still offer Lightning Pay to businesses that are willing and able to implement it, but we will offer Odin on its own with the ability to add Lightning Pay at any time.

Keep an eye out for the official Odin release in the coming weeks!

Business Development

We’d like to introduce our Thor Rewards Referral Program! It will be fun working along side our awesome Thor community to help us build a large pool of U.S. residents in need of health insurance as we approach the Open Enrollment period in November and December.

The Thor Rewards Referral Program, which will start on September 5, 2018 and run through the end of December 2018, is a great way for those interested to earn cash (in the form of Amazon gift cards) while simultaneously helping us grow the demand for THOR!

There will be monthly payouts to the ten participants who were able to bring in the highest amount of U.S. residents interested in ThorCare. Then, each of those interested parties who follow through and become an insured member of ThorCare when it is available earn their referrer $50! If 250 people who were directed to us with your referral link become insured under ThorCare, you earn $12,500!

To be eligible to participate in the Rewards Referral Program as a referrer, you must (I) be a legal resident of your country; (II) be the age of majority in your territory of residence; and (III) have previously gone through the Thor KYC/AML process.

A comprehensive announcement with details about the program, the payouts, and how to participate will be released early next week.

We also added another Advisor to our team this month, Ray Davila. Ray is the Vice President of Operations, Nightlife, for a worldwide hospitality company with establishments across the globe. He has extensive experience managing operations that rely heavily on 1099 contractors, and he will be a great resource for us as we hone our offerings to the exact needs of companies like his.

Ray found Thor and was excited because he knew from personal experience that there is a massive need in the market for what we are offering. He reached out to see if he could get involved and, well, the rest is history. We are excited to have him on board!

Lastly, we have been working on a couple partnerships related to Odin, but it has been requested that we keep names of parties involved under wraps until the official launch. That said, announcements will be coming soon!

Odds & Ends

  • We had more community members post pics of their #ThorSwag! Pictured below from left to right, we have (by Telegram username) Jay Hay, Nino K (with his adorable daughters), and Steven’s wife. Cheers, thanks for posting! To the rest of you who’ve picked up #ThorSwag, post a pic to Twitter or Telegram! And if you haven’t gotten any Thor gear, what are you waiting for?

1099 Workforce Optimization

The easiest way to onboard, incentivize, and pay your 1099 contracting workforce

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