Came in the next day and was like, All right, guys. Segment raised a Acquired of $175M at a $1.5B valuation in April 2019, Segment raised a Acquired of $2M at a $10.5M valuation in October 2013, Segment has 584 total employees and 133 sales reps that carry a quota. : Very cool. I lean on my co-founders. We were really excited about this. 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? Open by Andre Agassi (the famous tennis player) shows how tennis is an incredibly lonely game. 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. Where? Thats what Id tell myself. How was life there? Bradford: Finally, do you have any regrets about dropping out of school? 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? Alejandro: I love it! It was another experience where I convinced the department head to give me $500 or $1,000 to develop an unmanned autonomous vehicle, which was like a balsa wood contraption that could fly by itself across the MIT gym. Like, Classrooms should be digitized. Its hard for them to assess the strategy with a clear head. How are you able to filter through that to be able to focus and prioritize what matters on the roadmap in front of you? Becky Peterson. Read More: Pierre-Francois Thaler On Raising $200 Million To Make Supply Chains More Accountable. Peter Reinhardt: Thats right. Segment. Hoy tiene sede en San Francisco, California, y tuvo . Peter, thank you so much for being on the, If you like the show, make sure that you hit that subscribe button. Peter Reinhardt, CEO of Segment.com, made the following comment on his blog when discussing how the firm's noisy open office was lowering the productivity of its engineers: "We can't immediately ditch our open floor plan (although we're looking at various options for our next office. 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. People started picking up this open source library. Peter has over 25 years of experience in professional . 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. Peter Reinhardt: Yes, investors are in the business of making good investments, not just investing. Can you also send data to my data warehouse? 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. : 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. When? We were clearly failing to find product/market fit. Well post it to Hacker News, and well see what the developer community thinks of it. 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. We have the 100k left in the bank. Segment captures and controls the movement of customer data through APIs, which can be leveraged for an organization's marketing activities. 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. But you didn't drop out of MIT until 2011, correct? Peter Reinhardt, Segment's CEO, has spoken publicly about being the data infrastructure for the next generation of marketing tech. I know that next year, the challenge is going to be twice as hard again. Go figure out something else and work on that.. I wrote all this code. 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. : Is there any specific strategy, for example, that you use in order to get in front of those investors. Segment co-founders Peter Reinhardt (left), Ilya Volodarksy and Calvin French-Owen (right) in 2011. "We were a year and a half in. Twilio will host a conference call today, October 12, 2020, to discuss the Segment acquisition, at 5:30 a.m. (PT) / 8:30 a.m. (ET). We always find ourselves having to put way more effort into that than we think is necessary, and it always pays back in spades to reinforce our core company values again and again in as many different places as we can in the interview process, in the welcome package for onboarding, in the performance review at all hands every two weeks, etc. "I'm excited to bring my passion for tackling climate . : 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. Alejandro: Very nice. But he hasn't . I think there might be a big business in this open source library. Alejandro: So originally born and raised in Seattle. We're expanding our private beta at Segment.io, and in my dual frontend dev/account manager role I need a time-saving, flexible CRM. Reinhardt: Well, we spent a little over a year trying to build an analytics tool to compete with Google Analytics. We did that. 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. One of them, in particular, was when you experienced the growth rate that slowed a little bit, and that happened in 2015. You may opt-out by. People started picking up this open source library. So, we shut it down and called back all the investors," Reinhardt says. : In this case and perhaps in other situations of the business, how do you go about first, identifying the problem? Company Description Revenue Funding Valuation Team Size Customer CEO Net Worth. Peter Reinhardt is the cofounder and CEO of Segment which provides a customer data infrastructure that helps businesses put their customers first. : In that regard, you mentioned the word failing. If it is then, at least, in the B2B world selling software to other businesses, I think you can do a lot of good product/market fit testing with relatively few conversations. Alejandro: Very nice. Marketing people who were using tools like HubSpot to generate and post content, and maybe manage other type of things. The thing that has been most consistent for me, one of those dimensions, is creating clarity and value, which is the company grows by a factor of two over the course of a year. For you, personally, what does that reflection process look like? Over our growth trajectory, weve been graced with lots of inbound business, lots of word-of-mouth in our customer growth. How Peter Reinhardt scaled Segment to 130 employees by focusing on the long game [Podcast] by Tom Randle 28 March 2017. 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. Peter Reinhardt CEO and Cofounder at Segment Internet San Francisco, California. Thats what Id tell myself. 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. How many people work at Segment today? 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 . Calvin French-Owen, co-founder of . . You probably see the problem. And it wasn't until they took an embarrassing risk that the dream seemed like it could be a reality. I also set personal goals once a year and reflect on them quarterly. It is devoted to carbon mitigation. The best trick that Ive found for executive recruiting, which has made a huge difference for me, is batching my own recruiting process. : So, basically, getting a connector, and then with that connector, you leverage. : You were talking about company growth. Were building an analytics tool, like a web analytics tool, to compete with Google, Webex, Mixpanel, Kissmetrics, or Adobe Analytics. I said, That is literally the worst idea Ive ever heard. Structural Info. Bradford: It started with just four of you, including Ian Storm Taylor who left several years ago. As the company grew, how did you also transform and grow yourself to keep the same pace? Heres what were going to do. Peter Reinhardt: 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. Product managers that would use tools like Mixpanel and others to analyze their users. Now, youve been at it for quite a while with the business, and everything started back in 2011. Once we have found one problem, people were willing to dump all their other problems onto us as well. 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. : Then eventually, you had to put this out there. Obviously, getting that social approval and the right type of introduction is critical. They dont have time to talk to customers. 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. Its actually a little too sunny here in San Francisco for me now. Peter Reinhardt: I have four things, and theyre mapped exactly to our values. We raised a bit of money coming out of demo day for Y Combinator, about 600k. We raised a round from LocalGlobe and some of the best angel investors in the world, including Taavet Hinrikus / Transferwise, Alice Bentinck / Entrepreneur First, Peter Reinhardt / Segment and Charm Industrial, Yancey Strickler / Kickstarter . 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. Alejandro: Very cool. And it wasn't the last time the team considered feedback. YOU HAVE 20,000 FOLLOWERS: $100 per post at a $5/CPM. Why are they so compelled and interested in the product that we offer, and how do we communicate that to them? We started doing research on that. By 2019, the company had raised $284 million in venture capital funding and was bringing in "tens of millions of dollars in annual revenue," Reinhardt told the San Francisco Business Times in January 2019. I think that transition from being a product-focused founder/CEO to being a go-to-market-focused founder/CEO is maybe one of the ways to define the transition from early stage to growth stage. Celebrities Peter Reinhart Net Worth Peter Reinhart Net Worth 2023, Age, Height, Relationships, Married, Dating, Family, Wiki Biography Peter Reinhardt - https://twitter.com/reinpk - is cofounder and CEO of Segment - https://segment.com/ Segment helps companies capture data from every custome. Laurence Bradford: Can you each give yourselves a quick introduction? Starting Monday I will be working full-time on @CharmIndustrial, focused on permanent carbon removal via bio-oil sequestration. Segment has thousands of customers across the globe, from fast-growing businesses such as Atlassian, Bonobos and . 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. 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. Our purpose is to help entrepreneurs bring their ideas to life by sharing their stories via interviews. SaaS Founders Who Make The Most Revenue Per Employee. Once again, ACCOs International segment fared best with sales up 5.7% (on a 7.5% rise in [], Driven by the July 2022 merger with Neenah, Inc., Q4 net sales jumped 69.1% year-over-year to $660.1 million. 2020 ideamensch. 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