Its hard work to pick the few things that really matter. All Rights Reserved. "I'm excited to bring my passion for tackling climate . 100-California Street San Francisco, California, United States. How do we get in touch with them? 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. : You can reach me on Twitter at @reinpk. Peter Reinhardt: I'm one of the cofounders of Segment, and I'm the CEO as well. When? By segment, sales of Advanced Technical Materials climbed 60.1% to []. The other, obviously, is just scaling culture. 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. We had a bunch of professors at MIT who were excited about it, and we built all this over the summer at Y Combinator. Well post it to Hacker News, and well see what the developer community thinks of it. This week, we are thrilled to host Peter Reinhardt, CEO & Co-founder of Charm Industrial! What was the lesson that you got from that? 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. 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You're in great company Join 25,000+ businesses who are using Segment to power world-class customer experiences. Finally, Im sure this was a big breakthrough for you guys from understanding the value of being able to listen to your target audience. 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. French-Owen: Yeah, we actually met at this summer math class that was being held in Seattle at the University of Washington. Youre probably just avoidant of it. And if you got any value either from this episode or from the show itself, share it with a friend. It ended up not being useful at all. You may opt-out by. When? Peter Reinhardt - https://twitter.com/reinpk - is cofounder and CEO of Segment - https://segment.com/ Segment helps companies capture data from every custome. Alejandro: So originally born and raised in Seattle. This transformed the go-to-market motion for us and completely transformed the price points that customers were willing to pay and eliminated the churn problem for us overnight. Especially in customer-facing execs, but across the board, do they have a deep empathy and understanding for customers? "It was pretty obvious that it was not going to work. The idea was, if you're sitting in the middle of a lecture, the professor can say something that doesn't make any sense, and if it's a big class you might not want to raise your hand and interrupt your professor. As a result, the co-founders were able to retain all but two investors. 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. Alejandro: Thats very powerful, Peter. Then, over time, as the stakes have gotten higher, weve gotten better at figuring out how to determine whether something is really going to move the needle, which surprisingly, that didnt come from learning more about product management. Then, what happened with your roommates? Your father was a carpenter, and also, your mom was an art teacher. So, how much is Peter Reinhardt worth at the age of 72 years old? Filmography. But that changes with the new Xeon W series. "We created Segment to help businesses set themselves apart in the digital age and deliver rich, connected customer experiences built on high-quality data. Thats hard work. For you, personally, what does that reflection process look like? These days, Segment CEO Peter Reinhardt can boast that his customer data infrastructure company has raised almost $300 million in venture capital for a $1.5 billion valuation. I learned a bit from seeing that in action. Over our growth trajectory, weve been graced with lots of inbound business, lots of word-of-mouth in our customer growth. 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. Stokes, who is worth $5.69 billion according to this year's AFR Rich List, has lived in the . Peter Reinhardt on Quora: Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas. Then, of course, performance reviews, which is a helpful time to get feedback from all my direct reports. What does that look like? $140 per post at $7/CPM. He is an actor, known for Offiziere (1986), Die Sprungdeckeluhr (1990) and .zu Stein. They started saying, This is great. 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. : 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. I think we have someone who just skipped college entirely and is one of our star engineers. I think if you just run straight at the problem and dig as deep as you possibly can into the problem, gather all the data that you possibly can, talk to as many people as you possibly can, the solution is probably not actually that hard. 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. Add 4 ounces of seed culture mixture (discard the rest, or use to make a second starter) and mix until fully incorporated. Like, Classrooms should be digitized. Alejandro: Wow. But the data problem Segment aims to solve, although vitally important, is often considered less so, says Peter Reinhardt, co-founder of Segment and CEO of a new entity . 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. Bradford: Is that when you guys started Segment, then? Go figure out something else and work on that.. The end of that year and a half was pretty dark where we just didnt have traction, we were burning cash, and we hadnt found product/market fit in any sort of meaningful way. Peter Reinhardt was born on July 30, 1950 in Leipzig, East Germany. It's a massive net positive. Yeah. So we started with this college lecture tool that we called Class Metric. French-Owen: They all have a drive and hunger to learn, and not take things for granted. : So originally born and raised in Seattle. They meet with entrepreneurs to invest. I lean on the board. Its hard for them to assess the strategy with a clear head. 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars. The products "quadrupled revenue," according to Reinhardt. Once you got this big breakthrough, what were some of the next steps to actually deliver on your promise? It's been an amazing ride with all the really smart people we're able to work with now. We still had no paying customers. Peter Reinhart owns over 5,000 units of Hovnanian Enterprises stock worth over $2,597,337 and over the last 20 years Peter sold HOV stock worth over $5,870,758. Analysts that would go straight to the data. Here are three lessons Segment's co-founders learned about achieving success. I think most product-focused founders miss huge opportunities in pricing and packaging. 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. 2016, for us, was rescued by pricing and packaging. What does that look like? Feb 8, 2021. 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. So, we shut it down and called back all the investors," Reinhardt says. 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. Segment captures and controls the movement of customer data through APIs, which can be leveraged for an organization's marketing activities. : Weve raised a bit shy of 300 million in capital in the West, seven years. In spite of significant headwinds in 2020 - a global pandemic, economic uncertainty . Alejandro: Going back to the discussion on growth, you guys have experienced quite a significant amount of growth, as well, on the employee side of things. "That was a big moment for us," Reinhardt says. He is responsible for Twilio's Data Platform, which combines SendGrid Email, SendGrid Marketing Campaigns, and Segment as a whole into a single platform effort to serve marketing workloads. Its actually a little too sunny here in San Francisco for me now. "Together, Twilio and Segment have an incredible opportunity to build the customer engagement plaftorm of the future," Segment CEO Peter Reinhardt said in a statement earlier Monday. Also, remember, if you need any help, whether it is with your fundraising efforts or with selling your business, you can reach me at, Pierre-Francois Thaler On Raising $200 Million To Make Supply Chains More Accountable, This Entrepreneur Raised $60 Million To Keep Your Mind Sharp And Memory Intact, Elli Kaplan On Raising $60 Million To Keep Your Mind Sharp And Memory Intact, This Entrepreneur Raised $165 Million To Simplify Payments In A $10 Trillion Industry, Bharath Krishnamoorthy On Raising $165 Million To Simplify Payments In A $10 Trillion Industry. . Its crazy hundreds of thousands of lines of code trying to make this overcomplicated classroom lecture tool. . Peter Reinhardt: "I co-founded Segment in 2011 along with Calvin French-Owen, Ilya Volodarsky and Ian Taylor. How are you able to filter through that to be able to focus and prioritize what matters on the roadmap in front of you? Segment did not raise any money in its starting years. We were clearly failing to find product/market fit. For the folks that are listening, what is the best way for them to reach out and say hi? Alejandro: Very nice. They were like, Oh, its great that you send data to my analytics tools, but can you also send data to my email marketing tools? I would love to get to know you and understand this business prior to being under pressure to make a decision.. I think what that means is, they want to figure out which investments are going to be good. So there was a little over a year and a half in there of struggle. 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. Im looking for people and execs who have demonstrated that they know how to grow people. Sales people who were reaching out to the customers and emailing them directly, tracking them within Salesforce. "We were in a pretty downward spiral at that point. Twilio and Segment have an incredible opportunity to build the customer engagement platform of the future," said Peter Reinhardt, Segment's Co-Founder and CEO. To filter through that to be good love to use this to send data to us too of it new! Is a helpful time to get to know you and understand this business prior to under! So originally born and raised in Seattle at the University of Washington the products `` quadrupled revenue, '' to! Is the best way for them to reach out and say hi Street., seven years and i 'm the CEO as well Technical Materials climbed %... Them a couple took their money back, but the rest said, we really invested for the folks are! Know you and understand this business prior to being under pressure to make a decision achieving success and... 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