Bradford: Think about the "A player" employees at Segment. . Number of Current Jobs 1. Its hard for them to assess the strategy with a clear head. How do you go about scaling the team? As an entrepreneur and founder, I found a surprising amount in common with him. On an organic basis, sales were up 2.1% as higher pricing more than offset the negative impact of foreign exchange. Peter Forsberg's net worth is roughly $54 million, making him the 15th richest hockey player in the world. If you like the show, make sure that you hit that subscribe button. Peter Reinhardt is co-founder and CEO of Segment, the customer data infrastructure company. Place Of Birth. Master breadmaker Peter Reinhart is also a teacher, author and theologian. A one-size-fits-all approach may be great when you are a startup and dont have a business operation at scale, but when you have a large subscriber base, you are likely to leave money on the table with a simple pricing approach. But he hasn't . Alejandro: I love it! My dad had his own business in terms of a small-scale contractor. Im looking for people and execs who have demonstrated that they know how to grow people. Volodarsky: Through that Class Metrics journey, we used lots of different analytics tools to understand what parts our customers were using, and we were kind of unsatisfied with the best in class analytics tools that were available to startups. I think talking about culture is also going to be very interesting with our guest. Its often just a mental barrier of getting over actually realizing that theres a problem that needs to be solved and how much effort is going to have to go in to solve it. The world has some problems, and you have to listen and learn to listen very carefully to hear other people explain what their problems are hear other businesses explain what their problems are. Peter Reinhardt CEO and Cofounder at Segment Internet San Francisco, California. Then I went off to MIT and started studying aerospace engineering there. Preheat oven to 475-500F, and place an empty pan on the bottom rack of the oven (so it can preheat to turn water into make steam). 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. In the six months leading up to the Series A, we had gone from zero to a million in revenue, and we were on track to end that year at 2.5. That has been a challenging pace to keep up with, so I lean on investors. We shouldnt have had to we actually stood in the back of classrooms and counted screens to figure out what people were doing. Its hard work to pick the few things that really matter. Filter by State in . "It was so amazing meeting an amazing founder.". Like, we built a dashboard for investors because we want to be investors to distribute the tool to their startups and so on. For the last few generations, Intel hasnt updated its HEDT line-up, instead favoring its reinvigorated mainstream segment, which offer massive performance uplifts, thanks to their updated, high-performance hybrid architectures. We raised a bit of money coming out of demo day for Y Combinator, about 600k. As we went out to different classrooms we found out that when the professor would say, "everyone take out your computer and start using Class Metrics," the kids would last like 2, 3 minutes before they would go back to Facebook or start reading their email. He is an actor, known for Offiziere (1986), Die Sprungdeckeluhr (1990) and .zu Stein. So, yeah, we don't have the credential, but the MIT alumni Twitter handle still tweets out occasionally as if we were. See How I Can Help You With Your Fundraising Efforts, The importance of listening to your customers, Why traditional CRMs dont make sense anymore, How one article made their business a hit in just 24 hours, : Alrighty. Additionally, Peter Reinhardt has had 1 past job as the CEO & Co-Founder at Segment. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. If youre familiar with Medpick, or youre searching for an economic buyer who has a pain point, a champion, youre searching for the economic impact of what the problem is for them and what the solution, therefore, might deliver in terms of economic impact. Once you break-in, then its fairly easy to navigate the network through introductions. Heres what were going to do. 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. Peter Reinhardt is Former Chief Executive Officer/Co-Founder at Segment Inc. See Peter Reinhardt's compensation, career history, education, & memberships. I lean on those direct reports, who are best a creating clarity to help me figure out how to synthesize at that next level. 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. Spring 2012. But less than a decade ago, Segment founders Peter Reinhardt, Calvin French-Owen and Ilya Volodarsky were college kids at Massachusetts Institute of Technology (MIT), living in the same dorm and brainstorming products they could build to launch their own start-up. 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. Obviously, getting that social approval and the right type of introduction is critical. Peter Reinhardt: So, we thought a little bit over the next month or so and decided, We really should have been able to figure out that this tool wasnt working during our summer test sessions, and we should have been able to figure it out by looking at our web analytics. Initially, Reinhardt felt it would be "embarrassing" to ask, but Volodarsky did so anyway. That style of fundraising where you get to know folks before you actually ask them for money, I think, is something that weve carried forward from the Series A to the B to the C to the D. : Got it. I think there might be a big business in this open source library. Open by Andre Agassi (the famous tennis player) shows how tennis is an incredibly lonely game. In your case, how much capital have you guys raised for Segment? What was the lesson that you got from that? Theyre already sold on you. It is devoted to carbon mitigation. Thousands of companies from more than 70 countries use Segment to achieve a common understanding of their users and make customer-centric decisions. I think investors are actually quite aligned with wanting to get to know folks six to nine months before theyre in the throes of the fundraising process. "We created Segment to help businesses set themselves apart in the digital age and deliver rich, connected customer experiences built on high-quality data. Its difficult to differentiate and build a compelling product. Reinhardt: Well, we spent a little over a year trying to build an analytics tool to compete with Google Analytics. Yeah. In the six months leading up to the Series A, we had gone from zero to a million in revenue, and we were on track to end that year at 2.5. It rains a lot in Seattle, so I grew up with the idea that the rain outside was normal. Oct 25, 2018, 6:00 AM. Korrespondent Peter Reinhardt, Jahrgang 1956, schreibt seit fast 40 Jahren fr den Mannheimer Morgen. Its already open source. Laurence Bradford: Can you each give yourselves a quick introduction? Volodarsky: Yes, we basically built that product through YC in the summer of 2011 after we got into YC. For the folks that are listening, what is the best way for them to reach out and say hi? 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. For you guys, the first four years were the most challenging and full of situations, especially a couple of them that were near-death experiences. Date Of Birth. Segment was acquired by Twilio in 2020. And Around the Series C, its all about numbers at that point. The numbers are important, but I still found that it was heavily still all about the vision. Segment is a SaaS company helping thousands of companies collect and leverage their customer data. They dont have time to talk to customers. Without further ado, Id like to welcome our guest today. We raised a little bit of money from the tennis coach a few hundred dollars a month to print the thing on paper and distribute it around the school. An internationally renowned expert on bread and baking, Peter Reinhart is an instructor at Johnson & Wales University and a TED Talks speaker. I dont know how useful it is, but frankly, our strategy was to use Y Combinator as a springboard into that community. So, our mind was already there, and when we decided to not work on Class Metrics anymore we kind of pivoted into the analytic space. Volodarsky: I don't have many regrets. Peter Reinhardt: Thats right. 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. 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. That needs to happen, but what shouldnt change is there should be some set of values that are literally the things that you value that shouldnt change if its the things that you value. Alejandro: Is there any specific strategy, for example, that you use in order to get in front of those investors. French-Owen: The two cents version is, as we were building the other analytics products we found there were a lot of different types of job roles that people were doing at those companies. How should we sequence our way through the set of possible industries and market segments and roles and so forth? Can you also send data to my advertising tools? Like, Classrooms should be digitized. You don't get that by trying to be intuitive," he said. What happened there? : You were talking about company growth. Its crazy hundreds of thousands of lines of code trying to make this overcomplicated classroom lecture tool. When? Peter Reinhardt: I find that the most motivating times for me are when it becomes clear that over the previous quarter of two, that I have failed at something because that, to me, means that over the next quarter, I now understand the thing that I need to get better at. Otherwise, the company simply cant ingest it fast enough. 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. 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. I said, That is literally the worst idea Ive ever heard. : I think it was learning how to raise money for something that my friends and I were passionate about. : 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. We had $100,000 left in the bank. Prior to Charm, Reinhardt was CEO and co-founder of Segment, a SaaS customer data platform that was acquired by Twilio in 2020 for $3.2B. Your father was a carpenter, and also, your mom was an art teacher. "Finance can be an amazing enabler for your business" says Peter Reinhardt CEO of Segment, you should "use finance as a weapon to grow". Once again, another product. I wrote all this code. We added it ourselves as the fourth analytics service that it could send to because, by that time, we were building this analytics tool. Bradford: When you're interviewing candidates, do you take into consideration their college education? Then, of course, performance reviews, which is a helpful time to get feedback from all my direct reports. : In this case and perhaps in other situations of the business, how do you go about first, identifying the problem? I appreciate having been at the front row for our journey and seeing the company evolve from four clowns in a room to a very serious business that's actually making waves in the industry. There are dozen and dozens and hundreds of analytics companies. Its often just a mental barrier of getting over actually realizing that theres a problem that needs to be solved and how much effort is going to have to go in to solve it. Alejandro: Very nice. That said, I do think the founder CEOs attention shifts dramatically post-product/market fit. Over our growth trajectory, weve been graced with lots of inbound business, lots of word-of-mouth in our customer growth. We were clearly failing on this sort of customer sales side of things, and we were just spending all of our time building, building, building. So, how much is Peter Reinhardt worth at the age of 72 years old? 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. How to Find Product Market Fit - Peter Reinhardt. "The pandemic propelled companies into the digital age, accelerating the pace at which they adopted new channels to interact with customers," said Peter Reinhardt, CEO of Twilio Segment. Its 500 lines of code. Join Facebook to connect with Peter Reinhardt and others you may know. If you solve those, they will reward you for it. How was life there? : 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. Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here). The first half of the year, we went from 10 to 12.5, which scared us. : 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. Reinhardt lead customer data platform company Segment through its acquisition by Twilio for $3.2 billion last year. So Segment really sits in the middle of all that, powering those tools, and making sure the right data gets to the right place and the right format. That, to me, is a skill that Im constantly working on. Peter Reinhardt: I dont think we did a good job of this at first. I think oftentimes, people maybe go a little bit too down the rabbit hole of thinking that its just numbers, numbers, numbers after Series A. I actually think for the really big companies that are unlocking their ways into bigger and bigger sequential markets like the vision and how youre building into that from a product roadmap perspective is still super important. Billion last year you may know and say hi in Seattle, so I grew up with the that! - Peter Reinhardt is co-founder and CEO of Segment, the customer data infrastructure company for Segment: in open... 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