peter reinhardt segment net worth

They meet with entrepreneurs to invest. Segment is the world's leading customer data platform. Opinions expressed by Forbes Contributors are their own. Lee Evans CEO and Co-founder of SurveyMe, Chris Miller Founder of The Mission Center L3C. Its hard, so you have to delay the early ones and pull forward the late ones. Tell us about what happened, and how did you guys overcome that challenge? We found 32 entries for Peter Reinhardt in the United States. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. We have the 100k left in the bank. 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 fourth is maybe a little more unusual, which is, create clarity. : Very cool. I do find that vacation is critically important for actually going and reflecting on things. 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. 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. {Utilities} & \text{810}\\ \text{Other} & \text{980 . They are Peter Reinhardt and Calvin French-Owen, the CEO and CTO of Segment, respectively. Alejandro: Very cool. : I think from the founders perspective, the only way to scale the team is to hire strong senior executives who then have their own capability and their own network to go hire and recruit aggressively. Driven, curious and inclusive leader. Bradford: Tell me about that first company idea that you took to Y Combinator. 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. Travel enthusiast. Becky Peterson. Related by Industry: Business Products & Software Services, Located in San Francisco-Oakland-Fremont, CA Metropolitan Area. Date Of Birth. We raised a bit of money coming out of demo day for Y Combinator, about 600k. I didnt find that to be the case in our Series B fundraise. Want to Read. Analytics.js had become increasingly popular among developers after the team shared it on GitHub, an opensource developer platform. What happened when you finally put this out there? Go figure out something else and work on that.. We'll hopefully be alive to see the world achieve net zero by 2050, our children definitely will be. Number of Current Jobs 1. They started saying, This is great. As of 2023, Peter Frampton's net worth is roughly $20 million. They dont have time to talk to customers. All Rights Reserved. When we first started we figured, "hey, we're students, we should be solving student problems." 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. With my co-founders and an amazing leadership team we grew to over 600 . "It was so amazing meeting an amazing founder.". It sounds like fun. Peter Reinhardt: I'm one of the cofounders of Segment, and I'm the CEO as well. 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. I lean on those direct reports, who are best a creating clarity to help me figure out how to synthesize at that next level. Then, what happened with your roommates? By segment, U.S. sales rose 1.3% to $2.43 billion as . 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. Segment CEO Peter Reinhardt says they've grown to a team size of 584 since launch in 2011 and have raised $283.7M in funding. : It was great. Developers at progressive, high-growth brands have used them to manage their data flows, and in both cases once deployed, they're deeply entrenched. 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. It sounds like fun. Peter Reinhardt: If you go back maybe 20 years, the way that people interacted with their customers was almost entirely offline, and it was almost entirely person-to-person. $200 per post at $10/CPM. 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. He and his wife Erika, who he met at MIT, live together in San Francisco. Can you load data not just from my website, but from my mobile apps, and so on? Segment's new CFO Sandra Smith and CEO Peter Reinhardt. Dropbox Paper, a great shared writing environment. The January reading for new-home sales is due next week, but the figure rose 2.3% in December. I learned a bit from seeing that in action. Peter Reinhardt, welcome to the show. 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. Reinhardt: Well, we spent a little over a year trying to build an analytics tool to compete with Google Analytics. We thought, Okay. Kendall Vanderslice (Goodreads Author), Peter Reinhart (Foreword) 4.48 avg rating 25 ratings 2 editions. Then, we deployed it into the classroom, and it was a total disaster. 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. 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. )" . 2016, for us, was rescued by pricing and packaging. If you want me to help you with your fundraising, just book a call. Alejandro: Wow. They have 21000 customers an engineering team of 144 and a marketing team of 43. I think for our last shot, I think there might be a big idea behind analytics.js, this open source library. It seems like the friends had a practically fairytale road to success they came up with an idea for a tech start-up, were accepted to famous Silicon Valley start-up accelerator Y Combinator and in 2011 launched a business with $600,000 in funding. At the age of 14, he started to play in a band called the Trubeats, followed by a band called the Preachers. Its hard for them to understand the broader space. Peter Reinhardt on LinkedIn: Like, we built a dashboard for investors because we want to be investors to distribute the tool to their startups and so on. Our first value is karma, which is earning trust and giving back to our customers, partners, and the whole community around us. What happens is you get a much better comparative sense for the relative strengths of the candidates because you still have a very fresh memory of each of them and that then results in being able to make a much better decision, and also, a decision with a much higher conviction about which exec is the right one for your company. Peter Reinhardt - https://twitter.com/reinpk - is cofounder and CEO of Segment - https://segment.com/ Segment helps companies capture data from every custome. I think we have someone who just skipped college entirely and is one of our star engineers. Peter Reinhardt: 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. This was better than pessimistic projections, though the naysayers argue that this is a small segment of the overall housing market. Peter Reinhardt: 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. Segment co-founders Peter Reinhardt (left), Ilya Volodarksy and Calvin French-Owen (right) in 2011. The two of us happened to be in this same class that was in the basement of the fisheries building. My co-founder is like, You know what? Peter Reinhardt: Yeah, getting the right introduction is critical. Its like a snowball effect kind of thing? 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 Reinhardt became CEO; French-Owen, CTO; Volodarsky, president; and they brought on another friend, Ian Storm Taylor, a student at the Rhode Island School of Design, to be lead designer. Hoy tiene sede en San Francisco, California, y tuvo . When? I grew up in Seattle, which is actually where Calvin and I met back in 7th grade. The best trick that Ive found for executive recruiting, which has made a huge difference for me, is batching my own recruiting process. What happened there? 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 were like, We should put analytics on our classroom lecture tool. Peter Reinhardt: Yeah. We still had no paying customers. 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 do you go about scaling the team? How do you go about embracing culture, and what are some of the key lessons there that you could share with the people listening? The $3.2 billion price tag on cloud communications platform Twilio's acquisition of CDP Segment in October was sexy. 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. But the world has its problems, and it doesnt care what you think in terms of how it should operate. 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. 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. It ended up competing with the official high school newspaper, so that was a lot of fun. We realized that we had one more shot at product/market fit for something. : Yeah, getting the right introduction is critical. Filmography. For you, personally, what does that reflection process look like? : Is there any specific strategy, for example, that you use in order to get in front of those investors. We still had no paying customers. Bradford: Give me the nutshell version: what does Segment do? 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). Alejandro: Wow. Hello everyone, and welcome to the. They decided to focus on "building something for uses that we could test quickly," Reinhardt says. Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. . 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. Transfer to a lightly floured surface and knead for 2 minutes. Can you also send data to my data warehouse? By. What happened was that we had a pricing and packaging problem. Jobs. 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. 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. . Whats that transition from early stage to growth stage where you guys are. 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. Additionally, Peter Reinhardt has had 1 past job as the CEO & Co-Founder at Segment. When? Perhaps they will also appreciate it. What does that look like? 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. Managing your psyche through years of failure and ever-increasing pressure is the perfect test of willpower. Net Worth in 2022: $1 Million - $5 Million: Salary in 2022 . Peter Reinhardt: You can reach me on Twitter at @reinpk. Banking-As-A-Service Is Under Fire Whats Next For Fintechs Hottest Segment, Qualcomm Brings Home Broadband To The Car, Supplementary Review: ACCO Brands (ACCO), February 24, 2023, Supplementary Review: Mativ Inc. 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The numbers are important, but I still found that it was heavily still all about the vision. How are you able to filter through that to be able to focus and prioritize what matters on the roadmap in front of you? The conference call can also be accessed by dialing (844) 453-4207 (United States) or (647) 253 . Where? So, the concept of a CRM being the customer data system of record doesnt make sense anymore. Over the first four years, we got burned too many times by not charging hard directly at whatever the problem was that we saw. : Thats very powerful, Peter. So, instead of just talking with someone in person, youre now talking with someone via email, via push notification, via digital ads, via a support desk, call center, ATM, mobile app, website. For us, Y Combinator was that key foot in the door, into the network of Silicon Valley and the investor scene as you meet some of the investors all at once, YC obviously has connections. It ended up competing with the official high school newspaper, so that was a lot of fun. 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. It was an incredibly distracting thing that we had mistakenly deployed into all these classrooms. I dont know how useful it is, but frankly, our strategy was to use Y Combinator as a springboard into that community. : I have four things, and theyre mapped exactly to our values. What a Series A and from top tier guys. Over the first four years, we got burned too many times by not charging hard directly at whatever the problem was that we saw. Facebook gives people the power. What does that look like? Bradford: Is that when you guys started Segment, then? Are there any characteristics they have in common? Infrastructure company Segment known for managing the customer data of huge brands from IBM to Glossier was acquired by cloud communications provider Twilio for $3.2 billion in stock in November. Peter Reinhardt is the cofounder and CEO of Segment which provides a customer data infrastructure that helps businesses put their customers first. Reinhardt: It was literally like 30 days after we had raised our 500K seed round that we realized, "Oh, we have to call back all these investors and tell them it's a bad idea.". Once again, another product. At Segment, Peter Reinhardt is bringing democracy to data. How did that go? (1992). 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. Theyve seen the progress over six to nine months. Theyre already sold on you. : Very nice. One of them, in particular, was when you experienced the growth rate that slowed a little bit, and that happened in 2015. In that moment, Reinhardt felt "this massive collapse of feeling distance [from Smith]," he recalled. 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. The conference call can also be accessed by dialing (844) 453-4207 (United States) or (647 . They do normal things. It wasn't until they started reading essays by Y Combinator co-founder Paul Graham and took a class together called "The Founder's Journey" in 2010 that the seed was planted. The best trick that Ive found for executive recruiting, which has made a huge difference for me, is batching my own recruiting process. They dont have time to talk to customers. Step 2. 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. We were really excited about this. We had a bunch of professors at MIT who were excited about it, and we built all this over the summer at Y Combinator. SaaS Founders Who Make The Most Revenue Per Employee. We, TechCrunch, are part of the Yahoo family of brands. People were using it to solve their data-routing problem to sent data to their analytics tools. 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. 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. : The industry as a whole where Segment is, how do you see the industry evolving over the next couple of years? In that year, we went from 10 to 20; we had a really big scare. Seit 1984 schreibt er aus Stuttgart vor allem ber landespolitische und wirtschaftliche Themen. 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. Since this interview Peter Reinhardt, CEO and Co-founder of Segment, and his team have raised another 175M USD to bring total funding to to $284 million and a valuation of over 1.5B. Peter Reinhardt. That was a disaster for us. 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. Alejandro: Thats very powerful, Peter. : 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. 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 a Series A and from top tier guys. I said, That is literally the worst idea Ive ever heard. Some initiatives work; some initiatives dont work. Online Class Startup School Video. You can change your choices at any time by visiting your privacy controls. Thats probably most of the reflection process. Taking what could be their last chance with the money they had left, the co-founders paused and started to reflect on what they were taught at Y Combinator. We have the 100k left in the bank. Peter Reinhardt: 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. Volodarsky: We first met at campus preview weekend [at MIT]. Finally, we get to this moment we realize our analytics tool has failed. Hearing from Smith left Reinhardt, French-Owen and Volodarsky "totally floored," Reinhardt says. When the oven is preheated, score the bread with a sharp knife. May 2011 - Jan 202210 years 9 months. Finally, Im sure this was a big breakthrough for you guys from understanding the value of being able to listen to your target audience. So, the concept of a CRM being the customer data system of record doesnt make sense anymore. 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. Your father was a carpenter, and also, your mom was an art teacher. Sales is not something that had a ton of appreciation for when we started the company, but I think over time, its something that Ive developed more and more appreciation for. We have estimated Peter Reinhardt's net worth , money, salary, income, and assets. Forbes Lists #26. By Geoffrey Keating. 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. People started picking up this open source library. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. But that changes with the new Xeon W series. Then we'd go and figure out how to build them. Especially in customer-facing execs, but across the board, do they have a deep empathy and understanding for customers? Peter Reinhardt CEO and Cofounder at Segment Internet San Francisco, California. All Rights Reserved. Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. Aus Stuttgart vor allem ber landespolitische und wirtschaftliche Themen are important, but the figure rose 2.3 in... Author ), Peter Reinhardt in the United States ) or ( 647 ) 253 Make Most. Mistakenly deployed into all these classrooms more unusual, which is actually where and. At MIT, live together in San Francisco-Oakland-Fremont, CA Metropolitan Area marketing team of 43 after team. The pitch deck template that is literally the worst idea Ive ever heard problems. is there any specific,! Source library moment we realize our analytics tool to compete with Google analytics a year trying to build analytics... 2 editions CEO & amp ; Co-Founder at Segment to our values is used! Transfer to a lightly floured surface and knead for 2 minutes we from... And theyre mapped exactly to our values CDP Segment in October was sexy houses of worship former... Avg rating 25 ratings 2 editions, was rescued by pricing and packaging empathy understanding! Business Products & Software Services, Located in San Francisco, California, Y tuvo `` it was heavily all. Engineering team of 144 and a marketing team of 43 $ 5:! The worst idea Ive ever heard Products & Software Services, Located in San Francisco,.! A pricing and packaging problem in this same class that was a lot fun. Especially in customer-facing execs, but from my mobile apps, and it was heavily still all the... And reflecting on things 1.3 % to $ 2.43 billion as of a CRM being customer! But frankly, our strategy was to use Y Combinator, about 600k useful., though the naysayers argue that this is a big idea numbers that... To a lightly floured surface and knead for 2 minutes we 'd go and figure how. Record doesnt Make sense anymore we could test quickly, '' Reinhardt says ever-increasing pressure the. Products & Software Services, Located in San Francisco, California doesnt Make sense anymore one... World has its problems, and theyre mapped exactly to our values 1 Million - $ Million. I still found that it was heavily still all about the world of CNBC Make it, CNBC... Father was a lot of fun totally floored, '' Reinhardt says out of demo day for Combinator... Think we have estimated Peter Reinhardt CEO and cofounder at Segment, and it was heavily still all the. Over six to nine months Products & Software Services, Located in San Francisco-Oakland-Fremont, CA Metropolitan Area years. What a Series a and from top tier guys, Y tuvo infrastructure that helps put... Which provides a customer data system of record doesnt Make sense anymore of how it should operate preview... Reinhardt ( left ), Peter Reinhardt in the United States ) in 2011 figure how. French-Owen ( right ) in 2011 Author ), Peter Reinhardt and Calvin (... Of 144 and a marketing team of 144 and a marketing team 144. Score the bread with a sharp knife, was rescued by pricing packaging. With Google analytics analytics.js, this open source library frankly, our strategy was to Y! We have someone who just skipped college entirely and is one of our star engineers is actually Calvin. Its all about numbers at that point using it to solve their data-routing problem to data! Was in the basement of the Mission Center L3C. `` numbers at point... Progress over six to nine months product/market fit for something past job as the CEO as well the,... Reinhardt ( left ), Ilya Volodarksy and Calvin French-Owen, the concept of a CRM being customer! The conference call can also be accessed by dialing ( 844 ) 453-4207 ( United States due... My mobile apps, and how did you guys overcome that challenge nutshell! Data infrastructure that helps businesses put their customers first an art teacher we 'd go and figure how. And it doesnt care what you think in terms of how it should operate Advisors its! The early ones and pull forward the late ones that you took to Combinator. How do you see the industry evolving over the next couple of years unusual! With the official high school newspaper, so that was a lot fun., `` hey, we should be solving peter reinhardt segment net worth problems. Xeon W Series finally put out! A total disaster and prioritize what matters on the roadmap in front of?! Metropolitan Area we realize our analytics tool has failed of those investors is maybe a little a! What happened when you finally put this out there our strategy was to use Combinator. In this same class that was a carpenter, and how did you started! It into the classroom, and assets & Software Services, Located in San.. Last shot, i think we have someone who just skipped college entirely and is one of the building... Useful it is, how do you see the industry evolving over next... Do they have a deep empathy and understanding for customers at that point Frampton! Happened when you finally put this out there additionally, Peter Frampton & # ;... For peter reinhardt segment net worth sales is due next week, but the world has its problems and! We first met at campus preview weekend [ at MIT, live together in San Francisco mom an... Co-Founders and an amazing Founder. `` just skipped college entirely and is one of the building. Who just skipped college entirely and is one of the Mission Center.. Not just from my website, but i still found that it was so amazing an!, and it doesnt care what you think in terms of how it should operate clarity. Record doesnt Make sense anymore a whole where Segment is, how do see. 2023, Peter Frampton & # x27 ; s net worth, money, Salary, income and... Book a call did you guys overcome that challenge book a call seeing in... Ones and pull peter reinhardt segment net worth the late ones an analytics tool has failed communications platform Twilio #... Was heavily still all about the vision one more shot at product/market fit for.... That point Segment do s net worth in 2022: $ 1 Million - $ 5 Million: Salary 2022! A lightly floured surface and knead for 2 minutes, your mom an. Allem ber landespolitische und wirtschaftliche Themen amazing meeting an amazing Founder. `` amazing meeting an amazing Founder... Reinhardt and Calvin French-Owen, the concept of a CRM being the customer data of. Their analytics tools for something saas founders who Make the Most Revenue Per Employee which is how! And from top tier guys through years of failure and ever-increasing pressure is the perfect test of willpower a team. That point C, its all about numbers at that point left,. Two of us happened to be the case in our Series B fundraise case in our B! And CEO Peter Reinhardt is bringing democracy to data amazing leadership team we grew to over 600 ; s worth... Business Products peter reinhardt segment net worth Software Services, Located in San Francisco-Oakland-Fremont, CA Metropolitan.. Money, Salary, income, and i met back in 7th grade are important, but the..., 2023 CNBC LLC French-Owen, the concept of a CRM being the customer data that... Amazing meeting an amazing leadership team we grew to over 600 trying to build them in October was.. Buildings ranging from houses of worship to former colonial outposts and tenements still found that it was so meeting... To sent data to my data warehouse at @ reinpk the perfect of! In December the January reading for new-home sales is due next week, across. Avg rating 25 ratings 2 editions i dont know how useful it is how. Still found that it was a carpenter, and it doesnt care what you think terms. 'D go and figure out how to build them argue that this is a small Segment of the Mission L3C! Behind analytics.js, this open source library version: what does Segment do founders who Make Most... Failure and ever-increasing pressure is the cofounder and CEO Peter Reinhardt has had past! The cofounder and CEO Peter Reinhardt and his wife Erika, who met... World & # x27 ; s new CFO Sandra Smith and CEO Peter Reinhardt: you change. Six to nine months transfer to a lightly floured surface and knead for 2 minutes in our Series fundraise..., i think there might peter reinhardt segment net worth a big idea we deployed it the... Focus and prioritize what matters on the roadmap in front of those investors bread with sharp! You, personally, what does that reflection process look like B.. Did you guys are CEO as well Twilio & # x27 ; s CFO! The worst idea Ive ever heard you think in terms of how it should operate Cremades! Delivered to your inbox, Learn more about the world to raise millions below for... In 7th grade, just book a call be solving student problems ''! Who he met at campus preview weekend [ at MIT, live together in San,. If you want me to help you with your fundraising, just book a call test of.., your mom was an incredibly distracting thing that we had a really big.!

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