peter reinhardt segment net worth

Whether its thorium reactors, online education, or space travel, Peter enjoys nothing more than diving deep into a new field of study. I think talking about culture is also going to be very interesting with our guest. 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. 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. Alejandro: Very nice. Like, Classrooms should be digitized. I think we had a big success there, but I think we have also massively under-invested in pricing packaging, aligning pricing, and packaging to help customers want to buy is critically important. The clarity and simplicity of the message needs to get shorter and shorter and shorter as a company grows. Login Get Started. I've just loved our journey here. It rains a lot in Seattle, so I grew up with the idea that the rain outside was normal. 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. Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here). Ive never found misalignment with an investor where theyre like, Oh, I dont want to talk to you if youre not fundraising. Theyre like, Oh, great. Like, sure, sales is one channel of the 20 I just mentioned, but its just one of 20. : I think the world that we see ourselves and all our customers moving towards is one where all of the data across all of their customer touchpoints is collected and synthesized into a modern customer data system of record, and thats what were trying to build. Reinhardt lead customer data platform company Segment through its acquisition by Twilio for $3.2 billion last year. 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. People started picking up this open source library. 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. For example, in 2016, Segment launched two products called Warehouses (which helps customers collect and store first-party customer data) and Sources (which helps analyze that data) "as a result of customer feedback," Reinhardt says. I do find that vacation is critically important for actually going and reflecting on things. Its hard, so you have to delay the early ones and pull forward the late ones. Came in the next day and was like, All right, guys. Don Fluckinger, Senior News Writer. They decided to focus on "building something for uses that we could test quickly," Reinhardt says. For you, personally, what does that reflection process look like? Alejandro: Very cool. Company Description Revenue Funding Valuation Team Size Customer CEO Net Worth. San Francisco Bay Area. At the end of our junior year, we dropped out, applied to Y Combinator, got in, and we decided to build a classroom lecture tool. We were like, We should put analytics on our classroom lecture tool. Click Manage settings for more information and to manage your choices. We believe in you guys. Master breadmaker Peter Reinhart is also a teacher, author and theologian. We Googled analytics tools, and we found Google Analytics, Mixpanel, and Kissmetrics, but we couldnt figure out which of those analytics tools was actually good or was the right fit for us. 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. : 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. So, yeah, we don't have the credential, but the MIT alumni Twitter handle still tweets out occasionally as if we were. 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. 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. 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? I was thinking this would just totally kill it. I was thinking this would just totally kill it. Then, we deployed it into the classroom, and it was a total disaster. Tell us about how you guys went about the fundraising process as well. In other words, its hard to do the proper diligence to figure out whether its a good opportunity. Then, how did you develop this love for aerospace? 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. : Very cool. Peter, the people that are listening are probably wondering How do I get the attention from an investor because obviously investors are in the game of investing. There are dozen and dozens and hundreds of analytics companies. Place Of Birth. . Its hard for them to assess the strategy with a clear head. Youre probably just avoidant of it. Lets say, youd walk into a Nordstroms, and youd talk to someone. I said, That is literally the worst idea Ive ever heard. Last is, about once every two weeks, my co-founders and I get dinner. That pays back in spades as people then operate on the same operating system of what everyone values inside the company. . 2023 Forbes Media LLC. Alejandro: Very cool. The $3.2 billion price tag on cloud communications platform Twilio's acquisition of CDP Segment in October was sexy. The idea was to give students this button to push to say, Im confused. The professor would see this graph over time of how confused their students were, so they could match this up with their lecture and figure out how they could improve the lecture and make it easier for students to understand and so forth. : Very cool. His story of rising, falling, and rising again is exceptionally transparent about even his darkest moments. What does that look like? Bloomberg Surveillance: Early Edition with Anna Edwards, Matt Miller & Kailey Leinz live from London, Berlin and New York, bringing insight on global markets and the top business stories of the day. 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. We realized that we had one more shot at product/market fit for something. My guest today is Peter Reinhardt, co-founder and CEO of Segment, the market-leading data customer data platform that was acquired by Twilio last year. Thats hard work. In that offline world where you were actually talking to someone, the CRM made sense as the customer data system of record. How can they position scheduling that meeting and keeping the fundraising conversation in the background so that they can target the discussion more towards seeking advice and then later on getting the money price, but making sure that its not going into that direction yet? Volodarsky: Yes, we basically built that product through YC in the summer of 2011 after we got into YC. Segment. Stokes, who is worth $5.69 billion according to this year's AFR Rich List, has lived in the . We reflect on the annual plan once a year. That pays back in spades as people then operate on the same operating system of what everyone values inside the company. We have estimated Peter Reinhardt's net worth , money, salary, income, and assets. : 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. The products "quadrupled revenue," according to Reinhardt. "This is when we have this year-and-a-half-in-the-making overnight explosion," Reinhardt says. 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. From left to right -- Calvin French-Owen, Ilya Volodarsky, and Peter Reinhardt. 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. He studied Aerospace Engineering at MIT and fell into the world of customer data and analysis when he started the company with three college friends. I work primarily on technical and backend things. Peter Reinhardt: I'm one of the cofounders of Segment, and I'm the CEO as well. 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. But he hasn't . Our churn rate spiked in the first half of that year. He and his wife Erika, who he met at MIT, live together in San Francisco. Erich R Reinhardt Net Worth 2023 and insider trades. The co-founders got accepted. As of 2023, Peter Frampton's net worth is roughly $20 million. So it was a really fast growth year. Driven, curious and inclusive leader. Peter Forsberg's net worth is roughly $54 million, making him the 15th richest hockey player in the world. Maybe we should put it out there and see if it solves a problem for even more people. Yeah, it turns out it solves a big problem for people. We thought, Okay. Forbes Lists #26. Your father was a carpenter, and also, your mom was an art teacher. In spite of significant headwinds in 2020 - a global pandemic, economic uncertainty . Join Facebook to connect with Peter Reinhardt and others you may know. 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. And maybe we could actually be founders.'". "We created Segment to help businesses set themselves apart in the digital age and deliver rich, connected customer experiences built on high-quality data. Alejandro: Very nice. If you give investors a preview of that, say six, nine months before you go fundraise, then when you go fundraise, its more a discussion of numbers and strategy. 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). Reinhardt: It's really not something we pay attention to. Zo Bernard. So it was a really fast growth year. Becky Peterson. Peter Reinhardt is CEO of Twilio Segment, the world's leading Customer Data Platform. Thats probably most of the reflection process. Segment revenue is $144 million Segment is worth $3.2 billion valuation Segment team size is 584 employees. Alejandro: 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. I think what that means is, they want to figure out which investments are going to be good. If you can leave a review as well, that would be fantastic. Bradford: Think about the "A player" employees at Segment. If you solve those, they will reward you for it. Its hard work to pick the few things that really matter. 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. Alejandro: Got it. It ended up coming more from learning how the sales process works. Some initiatives work; some initiatives dont work. It was not at all the growth trajectory that we wanted to be on. Peter Reinhardt on Twitter: @reinpk A Peter Reinhardt, director ejecutivo de Segment, inicialmente no le gustaba la idea de crear una empresa de tecnologa de datos de clientes. That people they previously managed may be in even bigger roles, and those people say, The time under that exec was formative for me. The third is drive, which is delivering results, probably the most straightforward one. It ended up not being useful at all. We should have been able to figure out analytically from the data that this wasnt working during our summer test. If you give investors a preview of that, say six, nine months before you go fundraise, then when you go fundraise, its more a discussion of numbers and strategy. : Wow. Segment was acquired by Twilio in 2020. The Bella Twins took to IG Live to criticize WWE's booking of women on Raw 30. Eventually, we open sourced it, and we started using it as a growth hack. An internationally renowned expert on bread and baking, Peter Reinhart is an instructor at Johnson & Wales University and a TED Talks speaker. 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. I know that next year, the challenge is going to be twice as hard again. The fourth is maybe a little more unusual, which is, create clarity. It's been an amazing ride with all the really smart people we're able to work with now. Then, we finally launched Analytics JS, which is what became Segment today. I think I was a little bit slow to make this transition from the search from product/market fit to go-to-market strategy. Thousands of companies from more than 70 countries use Segment to achieve a common understanding of their users and make customer-centric decisions. Bradford: What kinds of things do you look at in a candidate? 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 an incredibly distracting thing that we had mistakenly deployed into all these classrooms. We work in different parts of the company now, but that dinner is a helpful time to reflect on whats working, whats not working, and what each of us can improve and do better. Its actually a little too sunny here in San Francisco for me now. Peter Reinhardt: "I co-founded Segment in 2011 along with Calvin French-Owen, Ilya Volodarsky and Ian Taylor. 2016, for us, was rescued by pricing and packaging. I lean on my co-founders. Reinhardt: Well, we spent a little over a year trying to build an analytics tool to compete with Google Analytics. By Allison Schiff. In high school, the first entrepreneurial thing that I got myself into was starting a high school underground newspaper called The Watchdog. 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. Peter Reinhardt: I dont think we did a good job of this at first. So, the whole thing blew up on us in a good way over the span of about 24 hours. They have 21000 customers an engineering team of 144 and a marketing team of 43. As the company grew, how did you also transform and grow yourself to keep the same pace? 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 YC. {Utilities} & \text{810}\\ \text{Other} & \text{980 . That was a disaster for us. We were really excited about this. Otherwise, the company simply cant ingest it fast enough. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. Segment remains Twilio's largest acquisition to date. Peter Reinhardt: In our junior year, my roommate and I started to recognize that we wanted to start a company together. It's fascinating how every startup has their own really individual, really unique journey. Alejandro: The industry as a whole where Segment is, how do you see the industry evolving over the next couple of years? Its 500 lines of code. Last is, about once every two weeks, my co-founders and I get dinner. The Good and the Bad From the Factory Floor, Critics of Bidens Antitrust Push Target FTCs Lina Khan, FBI Documents Show Leonardo DiCaprio, Kim Kardashian Grilled for 1MDB Secrets, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Record Number of Singapores New Director Roles Filled by Women, UK Mothers Say It No Longer Makes Financial Sense to Work, Transcript Zero Episode 29: Turning Climate Risks Into Golden Opportunities, Pain in the Butt: Study Finds Forever Chemicals in Toilet Paper, The 15-Minute City Freakout Is a Case Study in Conspiracy Paranoia, Another Blow to City Centers: Retail Stores Move Outward, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Former Chief Executive Officer/Co-Founder, Segment Inc. Im looking for people and execs who have demonstrated that they know how to grow people. As the company grew, how did you also transform and grow yourself to keep the same pace? 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. The name Peter Reinhardt has over 30 birth records, 6 death records, 6 criminal . We were like, We should put analytics on our classroom lecture tool. 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. Hearing from Smith left Reinhardt, French-Owen and Volodarsky "totally floored," Reinhardt says. Alejandro: Very nice. Additionally, Peter Reinhardt has had 1 past job as the CEO & Co-Founder at Segment. In fact, before MIT, the friends didn't know much about start-up culture. Organization Name. Peter Reinhardt: Thats right. : One interesting thing that people always said that I have not found to be true. 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. Then, what happened with your roommates? That, to me, is a skill that Im constantly working on. Over our growth trajectory, weve been graced with lots of inbound business, lots of word-of-mouth in our customer growth. 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. Theyre already sold on you. In high school, the first entrepreneurial thing that I got myself into was starting a high school underground newspaper called. Peter Reinhardt is Former Chief Executive Officer/Co-Founder at Segment Inc. See Peter Reinhardt's compensation, career history, education, & memberships. People were using it to solve their data-routing problem to sent data to their analytics tools. $140 per post at $7/CPM. At the end of the class, Volodarsky had an unconventional idea: "'What if we just invite Adam back to the dorm for a beer?'" Its hard for them to understand the broader space. Alejandro: Makes sense. So there was a little over a year and a half in there of struggle. They started saying, This is great. . Ive never found misalignment with an investor where theyre like, Oh, I dont want to talk to you if youre not fundraising. Theyre like, Oh, great. Reinhardt, French-Owen and Volodarsky were "totally in awe" of Smith, who also attended MIT (and graduated in two-and-a-half years, according to his LinkedIn profile) and founded Xobni at Y Combinator in 2006. They are Peter Reinhardt and Calvin French-Owen, the CEO and CTO of Segment, respectively. They were actually opening their laptops and going straight to Facebook, Twitter, Flicker, and Gmail, and so on. 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. My co-founder is like, You know what? We built the landing page and posted it on Hacker News. 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. We added it ourselves as the fourth analytics service that it could send to because, by that time, we were building this analytics tool. We believe in you guys. Thats hard work. If you want me to help you with your fundraising, just book a call. Published: 26 Mar 2021. Peter was founder of Segment, the category-defining Customer Data Platform (CDP) acquired by Twilio for $3.2B. That said, I do think the founder CEOs attention shifts dramatically post-product/market fit. That's where we first bonded, counting fish. What happened there? 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. Then we'd go and figure out how to build them. Theyve seen the progress over six to nine months. View Peter Reinhardt's business profile as CEO & Co-founder at Charm Industrial. I lean on the board. : In this case and perhaps in other situations of the business, how do you go about first, identifying the problem? Reinhardt: About 160 people total. Theyve seen the progress over six to nine months. Its like a snowball effect kind of thing? It's been almost four years now, and we've grown from just the four founders to 160 employees. Peter Reinhardt: Yeah, getting the right introduction is critical. : We reflect on our company goals every quarter. Alejandro: So, basically, getting a connector, and then with that connector, you leverage. The second value for us is tribe, which is that we want to push everyone around us to get better and be accepting of that when we feel that push from others. 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. But you didn't drop out of MIT until 2011, correct? Today, we have more than 300 team members working out of offices in San Francisco, New York, Vancouver and most recently, Dublin. 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. Date Of Birth. 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 . They have a large number of employees. This will be a fair test of whether this thing has product/market fit or not. Our purpose is to help entrepreneurs bring their ideas to life by sharing their stories via interviews. So, how much is Peter Reinhardt worth at the age of 72 years old? Like, we built a dashboard for investors because we want to be investors to distribute the tool to their startups and so on. What happened was that we had a pricing and packaging problem. Eventually, we open sourced it, and we started using it as a growth hack. This will be a fair test of whether this thing has product/market fit or not. French-Owen: Actually, Peter, I think you said this once. Heat some water, preferably in a kettle, so you can pour it into this pan later. 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. . If you can leave a review as well, that would be fantastic. You are the master or the owner of your own future. It ended up competing with the official high school newspaper, so that was a lot of fun. 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. This means the level at which that clarity needs to be created and the simplicity of the message needs to be twice as clear, and it needs to be half the length. Bradford: It started with just four of you, including Ian Storm Taylor who left several years ago. I also set personal goals once a year and reflect on them quarterly. : 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. Feb 8, 2021. "That's the sort of clarity that you only get by talking to customers. I would love to get to know you and understand this business prior to being under pressure to make a decision.. 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. Well post it to Hacker News, and well see what the developer community thinks of it. What Im looking for here is, does the exec have the ability to take the ambiguous complexity that is the world that a startup exists in, are they able to synthesize it down into the absolutely essential things that must get done right now? That was a disaster for us. )" . 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). 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. As an entrepreneur and founder, I found a surprising amount in common with him. In this episode of Secrets for Scaling, we chatted with Peter Reinhardt, Co-Founder and CEO of Segment. Peter Reinhardt is the cofounder and CEO of Segment which provides a customer data infrastructure that helps businesses put their customers first. : 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. : Yeah, getting the right introduction is critical. So, our initial product was built to give students a way to say, "hey, I'm confused," or, "I get it," and the professor would have a real-time indicator telling them how confused or how well the class understood things. Theyre already sold on you. Without further ado, Id like to welcome our guest today. 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. To decide whether Taylor was correct, the team decided to launch Segment on Hacker News, a developer community run by Y Combinator, to test whether it'd be successful or not. Were going to build a beautiful landing page thats going to pitch the value of analytic.js. Came in the next day and was like, All right, guys. Bradford: Finally, do you have any regrets about dropping out of school? 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.

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