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. How are you able to filter through that to be able to focus and prioritize what matters on the roadmap in front of you? Peter Reinhardt: Yes, investors are in the business of making good investments, not just investing. Other Posts. Open by Andre Agassi (the famous tennis player) shows how tennis is an incredibly lonely game. Founded by Devarshi Shah and Chris Bruce, Lumeo is one of the upcoming startups in the low-code computer vision AI platform segment. Marketing people who were using tools like HubSpot to generate and post content, and maybe manage other type of things. But the world has its problems, and it doesnt care what you think in terms of how it should operate. Theyre already sold on you. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. I was thinking this would just totally kill it. That third idea where we said, We dont know if this is a big grand vision, but it seems like its solving a problem for people. Ideating and pursuing side projects, no matter how simple they are, is incredibly important. Youd talk to a sales rep, and they would help you, and they would have memory in their own head or in their CRM of what your preferences were for clothing or what you last bought, etc. Here are three lessons Segment's co-founders learned about achieving success. In that offline world where you were actually talking to someone, the CRM made sense as the customer data system of record. Then theres a separate mentality you can take, which is, as soon as you see a problem, you go 10x-deep directly as hard as you possibly can at the problem until the problem doesnt exist anymore. We built this little 50-line piece of code that could send data from our classroom lecture tool out to all three of those tools and would let us figure out which tool was better later on, just like a data piping JavaScript Library. I guess that worked initially was, it was okay to build a lot of stuff and kill a lot of stuff as long as you actually kill a lot of stuff. We realized that we had one more shot," says Reinhardt. Segment's new CFO Sandra Smith and CEO Peter Reinhardt. This is a BETA experience. 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. 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. : 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. Alejandro: Thats very powerful, Peter. And if you got any value either from this episode or from the show itself, share it with a friend. : Thats right. I work primarily on technical and backend things. 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. San Francisco Bay Area. 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. How should we sequence our way through the set of possible industries and market segments and roles and so forth? Lets say, youd walk into a Nordstroms, and youd talk to someone. We thought, Okay. Bradford: When you're interviewing candidates, do you take into consideration their college education? Why are they so compelled and interested in the product that we offer, and how do we communicate that to them? July 30, 1950. Bradford: Think about the "A player" employees at Segment. Where? You can actually do a lot of discovery; thats whats called in sales to go learn those things and test whether a product is going to deliver economic value. So, getting really clear what the customer about what the exact explicit problem that they have and the economic pain that its creating for them, and then how your product is explosively going to solve that economic pain. 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. Its like a snowball effect kind of thing? I lean on the board. So, the concept of a CRM being the customer data system of record doesnt make sense anymore. Peter Reinhardt: It was great. What was the lesson that you got from that? Starting Monday I will be working full-time on @CharmIndustrial, focused on permanent carbon removal via bio-oil sequestration. I know that next year, the challenge is going to be twice as hard again. So, getting really clear what the customer about what the exact explicit problem that they have and the economic pain that its creating for them, and then how your product is explosively going to solve that economic pain. I think we have someone who just skipped college entirely and is one of our star engineers. Or, the future of analytics looks like this. There was always this inside-out kind of view of how the world should work. Alejandro: Very cool. 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. The first half of the year, we went from 10 to 12.5, which scared us. Feb 8, 2021. 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. Bradford: Tell me about that first company idea that you took to Y Combinator. The fourth is maybe a little more unusual, which is, create clarity. Peter Reinhardt, 18, aus Deutschland VfB Stuttgart U19, seit 2022 Innenverteidiger Marktwert: - * 23.01.2005 in Frth, Deutschland Peter Reinhardt - Spielerprofil 22/23 | Transfermarkt Your father was a carpenter, and also, your mom was an art teacher. Its hard for them to understand the broader space. We basically spent the next year building out various variations of that product, and frankly, not spending much time talking with customers. Thats what Id tell myself. 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? That, to me, is a skill that Im constantly working on. This was better than pessimistic projections, though the naysayers argue that this is a small segment of the overall housing market. Hoy tiene sede en San Francisco, California, y tuvo . Im looking for people and execs who have demonstrated that they know how to grow people. The fourth is maybe a little more unusual, which is, create clarity. Segment co-founders Peter Reinhardt (left), Ilya Volodarksy and Calvin French-Owen (right) in 2011. Now, youve been at it for quite a while with the business, and everything started back in 2011. French-Owen: At the time it was something completely different. So there was a little over a year and a half in there of struggle. Peter Reinhardt was born on July 30, 1950 in Leipzig, East Germany. Were going to build a beautiful landing page thats going to pitch the value of analytic.js. For us, that is the big transition were going through now, which is how do we figure out the go-to-market strategy and details of who we go after? Alejandro: So originally born and raised in Seattle. We made a pricing and packaging change where we rolled the two separate packages into a single package, and then changed our self-service pricing relative to our sales list price for larger contracts. But despite about $600,000 in seed money from Y Combinator's angel investors and the team's singular focus, after they launched the lecture tool that fall, it failed. Though we found there were actually thousands of these different tools out there that do these different jobs particularly well, they all kind of require the same data under the hood. After their perspective-changing meeting Smith, Reinhardt, French-Owen and Volodarsky spent the rest of the school year trying to build products with which they could start a company. Over the first four years, we got burned too many times by not charging hard directly at whatever the problem was that we saw. In terms of growth, recruiting, and bringing people into the company, that, for me, has been a big on-mark. What happened was that we had a pricing and packaging problem. When we were in college, we would just talk about different small computer programs that we can build. : Yes, investors are in the business of making good investments, not just investing. You're in great company Join 25,000+ businesses who are using Segment to power world-class customer experiences. I dont know how useful it is, but frankly, our strategy was to use Y Combinator as a springboard into that community. Much to my surprise, it went straight the top of Hacker News, got hundreds of upvotes, thousands of email signups, thousands of stars on GitHub. This abandoned high school was converted into a 31-unit apartment building. About a year later, we crossed one million in revenue and were growing super-fast. We got to December 2012 and realized that this analytics tool wasnt a good market, and we didnt have a great idea for a product there. : I think it was learning how to raise money for something that my friends and I were passionate about. 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. Made with great respect for entrepreneurs in Missoula, Montana. {Utilities} & \text{810}\\ \text{Other} & \text{980 . We built the landing page and posted it on Hacker News. Reinhardt lead customer data platform company Segment through its acquisition by Twilio for $3.2 billion last year. : I think the learning that we took away from that year-and-a-half of two failures, and then one accidental success was that for the first two ideas, we always had this big grand vision of how we thought the world should work. So many lessons learned, so many things that you guys have done, so many experiences now, if you had the chance to go back in time, Peter, and have a conversation with your younger self and give that younger self one piece of advice before launching a business, what would that be, and why, knowing what you know now? : 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. I'm currently acting as Segment's CTO, so I work a lot with AWS setup, the data pipelines, the architectural, building out new pieces of the system. Zo Bernard. I recall booking the largest, most impressive conference room we had and a 10AM meeting. Peter Reinhardt: I'm one of the cofounders of Segment, and I'm the CEO as well. It was not at all the growth trajectory that we wanted to be on. Date Of Birth. We raised a bit of money coming out of demo day for Y Combinator, about 600k. Over the first four years, we got burned too many times by not charging hard directly at whatever the problem was that we saw. : Amazing. Peter Reinhardt on Github: In other words, its hard to do the proper diligence to figure out whether its a good opportunity. He and his wife Erika, who he met at MIT, live together in San Francisco. Peter has over 25 years of experience in professional . 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. It's super helpful to them. Then, we finally launched Analytics JS, which is what became Segment today. Some initiatives work; some initiatives dont work. People started picking up this open source library. In our conversation, we cover the fascinating journey of Segment from an education feedback tool to the business it is today, Peter's sales philosop . 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. Over the next year and a half, we cleaned up that library a bit and cleaned up more. From left to right -- Calvin French-Owen, Ilya Volodarsky, and Peter Reinhardt. This story has been updated to reflect that Twilio's acquisition of Segment was completed on Nov. 2, according to Twilio. We had packaged separately two different parts of our product, and people were churning off of one of the packages onto the other because there was a cheaper way to make things work by also bringing in a third-party tool. And maybe we could actually be founders.'". We believe in you guys. How do you go about first, identifying the problem, then finding a solution, and then executing on it as a whole when it comes to strategy and execution for Segment? Especially in venture, they get very few chips to place, and they want to make those chips well-placed. Peter Reinhardt: I read somewhere recently this concept of two ways of responding to problems. Driven, curious and inclusive leader. You may opt-out by. We were never challenged to go and figure out deeply, who is the customer? Its like a snowball effect kind of thing? : The growth trajectory over the first few years was basically zero to 2.5 million, and then 2.5 to 10, and then 10 to 20. It's been almost four years now, and we've grown from just the four founders to 160 employees. Segment founder Peter Reinhardt has left his post as CEO of Twilio Segment to launch a new startup: Charm Industrial. That, to me, is a skill that Im constantly working on. This will be a fair test of whether this thing has product/market fit or not. I think the tough learning or humbling learning there was like the world doesnt care what you think. You probably see the problem. Reinhardt: About 160 people total. 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? 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. Can you also send data to my data warehouse? Hello everyone, and welcome to the DealMakers show. They are Peter Reinhardt and Calvin French-Owen, the CEO and CTO of Segment, respectively. His net worth has been growing significantly in 2021-2022. We were like, We should put analytics on our classroom lecture tool. 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. 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. Peter has . Can you load data not just from my website, but from my mobile apps, and so on? Yeah. The other, obviously, is just scaling culture. Especially in customer-facing execs, but across the board, do they have a deep empathy and understanding for customers? Celebrities Peter Reinhart Net Worth Peter Reinhart Net Worth 2023, Age, Height, Relationships, Married, Dating, Family, Wiki Biography Structural Info. How do you go about first, identifying the problem, then finding a solution, and then executing on it as a whole when it comes to strategy and execution for Segment? They have 21000 customers an engineering team of 144 and a marketing team of 43. The other, obviously, is just scaling culture. 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 was pretty straight forward from there, or at least relatively speaking, to build more and more of a product that solved the deep problem around how they managed their customer data. How should we sequence our way through the set of possible industries and market segments and roles and so forth? CEO Peter Reinhardt. I lean on those direct reports, who are best a creating clarity to help me figure out how to synthesize at that next level. Once again, another product. 2016, for us, was rescued by pricing and packaging. 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. In your case, how much capital have you guys raised for Segment? We still had no paying customers. : It was great. 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