Id love to use this to send data to Google Analytics and Mixpanel. We said, Well, wed love it if you would just turn on our tool and send data to us too. Theyre like, Nay. After noticing how it was being used, Taylor recommended they take it commercial and make that Segment's product. It was an incredibly distracting thing that we had mistakenly deployed into all these classrooms. Peter Reinhardt is the Founder and CEO @ Segment, the leading customer data platform with over 20,000 companies using Segment to collect, clean, and control their customer data.Prior to their $3.2BN acquisition by Twilio in 2020, Peter raised over $283M for Segment from Accel, Thrive, Meritech, GV, General Catalyst and Kleiner Perkins to name a few. : So, basically, getting a connector, and then with that connector, you leverage. And if you got any value either from this episode or from the show itself, share it with a friend. : Then eventually, you had to put this out there. The company has raised $300 million from top tier investors such as Accel, Google Ventures, Meritech Capital Partners, Thrive Capital, NEA, Kleiner Perkins, and General Catalyst to name a few. Its hard, so you have to delay the early ones and pull forward the late ones. $700,000. We should have been able to figure out analytically from the data that this wasnt working during our summer test. "That's the sort of clarity that you only get by talking to customers. Segment CEO Peter Reinhardt says they've grown to a team size of 584 since launch in 2011 and have raised $283.7M in funding. Reinhardt: It's really not something we pay attention to. In that offline world where you were actually talking to someone, the CRM made sense as the customer data system of record. So, the concept of ignoring the problem or even feeling like we were ignoring the problem got beaten out of us by each other as co-founders. Peter Reinhardt is the CEO & Co-founder at Charm Industrial. Hearing from Smith left Reinhardt, French-Owen and Volodarsky "totally floored," Reinhardt says. : But whats happened over the last 20 years is that all of the channels by which we interact with customers have become digital, and theyve multiplied. So it was a really fast growth year. : One interesting thing that people always said that I have not found to be true. Opinions expressed by Forbes Contributors are their own. Marketing people who were using tools like HubSpot to generate and post content, and maybe manage other type of things. Between fall 2011 and winter 2012, the co-founders worked 80 to 100 hours a week creating a new product for Segment a web analytics tool for companies to better understand their customers' behavior. : About six months after we launched the open source library, we had a good bit of free traction some customers using the product for free. Stokes, who is worth $5.69 billion according to this year's AFR Rich List, has lived in the . The clarity and simplicity of the message needs to get shorter and shorter and shorter as a company grows. This is a BETA experience. : So originally born and raised in Seattle. A live webcast of the conference call, as well as a replay of the call, will be available at https://investors.twilio.com. We believe in you guys. There are people who, when they see a problem, tend to shy away from it and be like, Oh, I dont want to deal with the problem. It may be totally subconscious. I also set personal goals once a year and reflect on them quarterly. Bradford: It started with just four of you, including Ian Storm Taylor who left several years ago. . Alejandro: You had a very good problem and, obviously, explosive product/market fit, but also, its tricky because now youre getting all these different people, different feedback, and requests. My dad had his own business in terms of a small-scale contractor. Segment captures and controls the movement of customer data through APIs, which can be leveraged for an organization's marketing activities. Prior to starting Segment, Peter was a Research Assistant at the Naval Postgraduate School, where he wrote and designed flight software for the NPS-SCAT Cubesat, a platform which tests solar cells while theyre in orbit. Theyve seen the progress over six to nine months. Alejandro: Wow. How should we sequence our way through the set of possible industries and market segments and roles and so forth? 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars. Then we'd go and figure out how to build them. That pays back in spades as people then operate on the same operating system of what everyone values inside the company. If you like the show, make sure that you hit that subscribe button. Alejandro: Very nice. When someone is running a fast fundraising process with a whole bunch of people, and its the first time theyre meeting them, its hard for them to assess the person. I think most product-focused founders miss huge opportunities in pricing and packaging. In that year, we went from 10 to 20; we had a really big scare. We reflect on the annual plan once a year. Net sales for the final quarter of 2022 grew 2.2% from the prior year to $4.13 billion. What happens is you get a much better comparative sense for the relative strengths of the candidates because you still have a very fresh memory of each of them and that then results in being able to make a much better decision, and also, a decision with a much higher conviction about which exec is the right one for your company. The co-founders got accepted. We had people reaching out to us on LinkedIn demanding access to the beta version of this product, the hosted beta version of this product, which didnt exist at the time we launched it. My dad had his own business in terms of a small-scale contractor. I was thinking this would just totally kill it. $149,999 Estimated Mr. Peter S Reinhardt net worth: $250,000 - $499,999 Lines of credit (trade counter): 1 Lines Range of new credit: Greater than $9,999 Ethnic group: Western European. Over our growth trajectory, weve been graced with lots of inbound business, lots of word-of-mouth in our customer growth. Taylor told the team they should adjust their programming tool and create a simple analytics Application Programming Interface, or API, that could be used to collectanalyticsdata from any platform. Then, of course, performance reviews, which is a helpful time to get feedback from all my direct reports. "It was so amazing meeting an amazing founder.". Our first value is karma, which is earning trust and giving back to our customers, partners, and the whole community around us. Its hard for them to understand the broader space. What do you want us to do with the money? Almost all of them a couple took their money back, but the rest said, We really invested for the team. Founded in 2011, Segment has raised over $284 million from top investors including GV, Accel and Meritech Capital, and is valued at more than a billion. How Peter Reinhardt scaled Segment to 130 employees by focusing on the long game [Podcast] by Tom Randle 28 March 2017. Perhaps they will also appreciate it. Number of Past Jobs 1. Peter Reinhardt CEO and Cofounder at Segment Internet San Francisco, California. Peter Reinhardt is the cofounder and CEO of Segment which provides a customer data infrastructure that helps businesses put their customers first. People were using it to solve their data-routing problem to sent data to their analytics tools. Proud father. Alejandro: You were talking about company growth. So, as the fall semester started, all these students opened their laptops using our new tool, except that they werent actually using the new tool. Nach dem Volontariat ab 1982 Politikredakteur. We had started reading a lot of Paul Grahams essays on, in and around, Y Combinator and Hacker News, which started getting me excited about that. We actually built a lot of stuff that ended up not being useful. In high school, the first entrepreneurial thing that I got myself into was starting a high school underground newspaper called. . Peter Reinhardt. Net Worth. They have a large number of employees. Click Manage settings for more information and to manage your choices. We were clearly failing to find product/market fit. Segment is the single platform that collects, translates, and routes your user data to hundreds of analytics & marketing tools with the flip of a switch. : Very nice. I've tried Salesforce and. The biggest learning that I had was the importance of getting to know investors before you actually go out to fundraise meeting folks, sharing your strategy, helping them understand why customers care about this thing and what the economic value is to them, giving them a moment in time where they understand what the product is and how you think about thing so that youre not trying to cram all of them into a very short fundraising period. Read More: Pierre-Francois Thaler On Raising $200 Million To Make Supply Chains More Accountable. The first half of the year, we went from 10 to 12.5, which scared us. Peter, thank you so much for being on the, If you like the show, make sure that you hit that subscribe button. Its already open source. I do not understand how this is a big idea. We had a huge fight as all four co-founders, and I went home and was wracking my brains trying to figure out how to kill this idea, and eventually figured it out. In 2022, Segment revenue run rate hit$144M in revenue. Peter Reinhardt: We had just raised this money about two weeks before we deployed it, so we had to call back all the investors and say, This thing you just invested in, were really sorry, but its a terrible idea. Peter Reinhardt: We reflect on our company goals every quarter. With all but two investors still on board, the team decided to release a version of the internal programming tool they had created build their previous products, which they had called Analytics.js. Thats when we raised the 15 million from Excel for our series A. : Yeah, getting the right introduction is critical. There are dozen and dozens and hundreds of analytics companies. Segment is the world's leading customer data platform. Filmography. "Ian was like, 'You know what, I think there's a big business behind Analytics.js and I think we should do that instead,'" Reinhardt says. Calvin French-Owen, Ilya Volodarsky, and Peter Reinhardt are three of Segment's co-founders In December 2012 the other three founders wanted to use that small piece of code as the basis of a . That pays back in spades as people then operate on the same operating system of what everyone values inside the company. I lean on the board. Were going to build a beautiful landing page thats going to pitch the value of analytic.js. The best trick that Ive found for executive recruiting, which has made a huge difference for me, is batching my own recruiting process. : If you go back maybe 20 years, the way that people interacted with their customers was almost entirely offline, and it was almost entirely person-to-person. Alejandro: I love it! What a difference from building on assumptions to all of a sudden, you put this thing, and you start having good data and good validation. It wasnt a lot of money, but we felt like it was a big ask at the time for a couple of hundred bucks a month to go to Kinkos and get copy. Segment's co-founder and CEO; He studied Aerospace Engineering at MIT and fell into the world of customer data and analysis when he and three of his college friends started Segment in 2011 as part of Y Combinator. Starting Monday I will be working full-time on @CharmIndustrial, focused on permanent carbon removal via bio-oil sequestration. Place Of Birth. "I'm excited to bring my passion for tackling climate . People have said that around Series B is when it stops being about the vision, and it starts being about just the numbers. I think that you have something over 500 employees. Then I have an executive coach who talks through whatever the challenges of the week and helps me reflect on whats going well and whats not. Why Twilio is buying customer data start-up Segment for $3.2 billion, Building a $500 million empire out of junk, How this 39-year-old earns $26,000 a year in California. Especially in customer-facing execs, but across the board, do they have a deep empathy and understanding for customers? Thats probably most of the reflection process. : Once you started on the execution of this, and you got this great feedback, it took a little bit of time until finally, you got the Series A in place. Dateability aims to be the first dating app for the long-term disabled and chronically ill to offer a modern and compassionate user experience to a diversity segment that has traditionally been invisible and underserved in the world of online dating. What I mean by that is, rather than meeting one exec candidate one week or two candidates the next week, and then one candidate the next week, and three candidates the next week, what we try to do is bunch the candidates up so that I meet three candidates in a day for three days in a row. In a wide-ranging Q&A, Twilio Segment CEO Peter Reinhardt discusses Twilio's $3.2 billion acquisition of the company he co-founded, and the future of CDPs. : It was great. 100-California Street San Francisco, California, United States. : Very cool. Structural Info. In their prior roles, have they shown that they want to understand the customer and that they will go over and beyond for the customer and the broader communities around their companies previously? If you can leave a review as well, that would be fantastic. Seit 1984 schreibt er aus Stuttgart vor allem ber landespolitische und wirtschaftliche Themen. Once again, another product. "I didn't think there was much value in it. From left to right -- Calvin French-Owen, Ilya Volodarsky, and Peter Reinhardt. Its hard, so you have to delay the early ones and pull forward the late ones. I think if thats a piece of advice that I could go back and give myself, it would be to run straight at the problem. : I think from the founders perspective, the only way to scale the team is to hire strong senior executives who then have their own capability and their own network to go hire and recruit aggressively. Finally, Im sure this was a big breakthrough for you guys from understanding the value of being able to listen to your target audience. Product managers that would use tools like Mixpanel and others to analyze their users. We were pretty close to a death spiral at that point," Reinhardt says. : I guess I was always excited about aircraft, and I was always studying different rocket designs and reading about the missions to the moon and what was going on on Mars and just always super excited about that. It wasn't Segment yet, right? Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here). I think that in the last couple of years, over 100% growth in terms of the number of employees. 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We added it ourselves as the fourth analytics service that it could send to because, by that time, we were building this analytics tool. : In that regard, you mentioned the word failing. The company has raised $300 million from top tier investors such as Accel, Google Ventures, Meritech Capital Partners, Thrive Capital, NEA, Kleiner Perkins, and General Catalyst to name a few. We actually built a lot of stuff that ended up not being useful. My co-founder is like, You know what? Don't miss:Chase Sapphire Preferred is offering a massive 80,000-point bonus for a limited time, Check out:How this 16-year-old turned her homemade chicken wing sauce into a business bringing in 6 figures a year. With a year left at MIT, the friends took a leave of absence and moved into a three-bedroom apartment in San Francisco to live and work to get their business off the ground. Peter Reinhardt on Twitter: @reinpk Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. Today, Reinhardt announced he was leaving . I lean on the board. The other, obviously, is just scaling culture. Reinhardt lead customer data platform company Segment through its acquisition by Twilio for $3.2 billion last year. Peter Reinhardt spent the last decade as CEO at Segment helping to build the customer data platform, selling it to Twilio for $3.2 billion along the way. We still had no revenue, so we went out and raised a 2-million-dollar seed-extension round from Kleiner Perkins and E.ventures based on the traction that we were having in customer reviews, but not based on revenue. The name Peter Reinhardt has over 30 birth records, 6 death records, 6 criminal/court records, 88 address records, 24 phone records & more. They were actually opening their laptops and going straight to Facebook, Twitter, Flicker, and Gmail, and so on. In 2017 Forsberg was named one of the '100 Greatest NHL Players' in history. 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