That, to me, is a skill that Im constantly working on. I lean on those direct reports, who are best a creating clarity to help me figure out how to synthesize at that next level. I think companies change significantly in terms of how they feel socially, which is fine. Finally, Im sure this was a big breakthrough for you guys from understanding the value of being able to listen to your target audience. 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. This abandoned high school was converted into a 31-unit apartment building. As of 2023, Peter Frampton's net worth is roughly $20 million. Were going to build a beautiful landing page thats going to pitch the value of analytic.js. 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 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. Some initiatives work; some initiatives dont work. But he hasn't . Segment has thousands of customers across the globe, from fast-growing businesses such as Atlassian, Bonobos and . Otherwise, the company simply cant ingest it fast enough. At first, Reinhardt completely disagreed with Taylor and felt it was "the worst idea of all time," he says. Its hard for them to assess the strategy with a clear head. Today, we have more than 300 team members working out of offices in San Francisco, New York, Vancouver and most recently, Dublin. Korrespondent Peter Reinhardt, Jahrgang 1956, schreibt seit fast 40 Jahren fr den Mannheimer Morgen. They are Peter Reinhardt and Calvin French-Owen, the CEO and CTO of Segment, respectively. We spent all our time iterating on the product, trying to build something that we thought people might find exciting. Go figure out something else and work on that.. The first half of the year, we went from 10 to 12.5, which scared us. 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. Peter Reinhardt: Thats right. Peter Reinhardt: 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. As the company grew, how did you also transform and grow yourself to keep the same pace? Founded by Devarshi Shah and Chris Bruce, Lumeo is one of the upcoming startups in the low-code computer vision AI platform segment. 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. Youre probably just avoidant of it. "Finance can be an amazing enabler for your business" says Peter Reinhardt CEO of Segment, you should "use finance as a weapon to grow". : Very nice. Opinions expressed by Forbes Contributors are their own. Categories. 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. Alejandro: Then eventually, you had to put this out there. Bradford: Give me the nutshell version: what does Segment do? I was thinking this would just totally kill it. Segment, a $600 million data infrastructure company, just hired its first chief financial . Peter Reinhardt's income source is mostly from being a successful Actor. So there was a little over a year and a half in there of struggle. I lean on my co-founders. Cloud 100 . Can you also send data to my advertising tools? By Geoffrey Keating. Peter Forsberg is a Swedish retired professional hockey player. : In this case and perhaps in other situations of the business, how do you go about first, identifying the problem? Banking-as-a-Service companies are in for a tough ride this year. 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. Peter, thank you so much for being on the DealMakers show today. But "that was also a disaster," Reinhardt says. 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 the folks that are listening, what is the best way for them to reach out and say hi? Thats when we raised the 15 million from Excel for our series A. Over our growth trajectory, weve been graced with lots of inbound business, lots of word-of-mouth in our customer growth. Lee Evans CEO and Co-founder of SurveyMe, Chris Miller Founder of The Mission Center L3C. Alejandro: Wow. 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. If you can leave a review as well, that would be fantastic. Its 500 lines of code. 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. $200 per post at $10/CPM. Our churn rate spiked in the first half of that year. Read More: Pierre-Francois Thaler On Raising $200 Million To Make Supply Chains More Accountable. 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? We were clearly failing to find product/market fit. Peter Reinhardt: Yeah, getting the right introduction is critical. 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. But the world has its problems, and it doesnt care what you think in terms of how it should operate. About a year later, we crossed one million in revenue and were growing super-fast. Last is, about once every two weeks, my co-founders and I get dinner. From left to right -- Calvin French-Owen, Ilya Volodarsky, and Peter Reinhardt. 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. But the world has its problems, and it doesnt care what you think in terms of how it should operate. 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. 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. We had $100,000 left in the bank. We were pretty close to a death spiral at that point," Reinhardt says. We had a bunch of professors at MIT who were excited about it, and we built all this over the summer at Y Combinator. On an organic basis, sales were up 2.1% as higher pricing more than offset the negative impact of foreign exchange. : 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. Alejandro: Makes sense. They called it Segment and applied to Y Combinator. . We basically hired this one guy, sight unseen, after seeing him on Github sharing code and responding to issues, day after day, learning new things and solving problems. Like, Classrooms should be digitized. : You had a very good problem and, obviously, explosive product/market fit, but also, its tricky because now youre getting all these different people, different feedback, and requests. 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Managing your psyche through years of failure and ever-increasing pressure is the perfect test of willpower. 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. Peter Reinhardt was born on July 30, 1950 in Leipzig, East Germany. In terms of growth, recruiting, and bringing people into the company, that, for me, has been a big on-mark. Structural Info. I think I was a little bit slow to make this transition from the search from product/market fit to go-to-market strategy. : Wow. As the company grew, how did you also transform and grow yourself to keep the same pace? A live webcast of the conference call, as well as a replay of the call, will be available at investors.twilio.com. 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. Peter Reinhardt is the Founder and CEO @ Segment, the leading customer data platform with over 20,000 companies using Segment to collect, clean, and control their customer data.Prior to their $3.2BN acquisition by Twilio in 2020, Peter raised over $283M for Segment from Accel, Thrive, Meritech, GV, General Catalyst and Kleiner Perkins to name a few. 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 . I look for evidence of those four things. Like, Classrooms should be digitized. Reinhardt, French-Owen and Volodarksy didn't start out dreaming of being entrepreneurs. Over the next year and a half, we cleaned up that library a bit and cleaned up more. Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400 million (see it here). I think that you have something over 500 employees. Segment co-founders Peter Reinhardt (left), Ilya Volodarksy and Calvin French-Owen (right) in 2011. That has been a challenging pace to keep up with, so I lean on investors. Its like a snowball effect kind of thing? 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. Do they have a history of delivering results, whatever those were in their function? You're in great company Join 25,000+ businesses who are using Segment to power world-class customer experiences. Peter Reinhardt: I think it was learning how to raise money for something that my friends and I were passionate about. Then, how did you develop this love for aerospace? Segment. The hardest thing is breaking into the network for the first time. We also have Peter Reinhardt, CEO of Twilio segment, joining us for Q&A. . Your father was a carpenter, and also, your mom was an art teacher. 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. Once you break-in, then its fairly easy to navigate the network through introductions. Came in the next day and was like, All right, guys. Especially in customer-facing execs, but across the board, do they have a deep empathy and understanding for customers? This 28-year-old crashed his company twice and wasted hundreds of thousands of dollars of investors' cash here's how he turned that same company into a huge success. 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