Yeah. 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 clearly failing on this sort of customer sales side of things, and we were just spending all of our time building, building, building. If you want me to help you with your fundraising, just book a call. I know that next year, the challenge is going to be twice as hard again. 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. I also set personal goals once a year and reflect on them quarterly. His net worth has been growing significantly in 2021-2022. He and his wife Erika live in San Francisco. 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. . 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. "It's like, 'Wow, a founder is a normal person too. Bradford: Is that when you guys started Segment, then? We had six or eight months of runway. 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. 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. Ilya Volodarsky: I work in the products engineering team, so both doing products and engineering. Peter Reinhardt is CEO and co-founder of Segment. And if you got any value either from this episode or from the show itself, share it with a friend. As of 2023, Peter Frampton's net worth is roughly $20 million. "Ian was like, 'You know what, I think there's a big business behind Analytics.js and I think we should do that instead,'" Reinhardt says. If you want me to do your fundraising for you, click here. Also, remember, if you need any help, whether it is with your fundraising efforts or with selling your business, you can reach me at [emailprotected]. That pays back in spades as people then operate on the same operating system of what everyone values inside the company. How do we get in touch with them? Heat some water, preferably in a kettle, so you can pour it into this pan later. : 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. Lee Evans CEO and Co-founder of SurveyMe, Chris Miller Founder of The Mission Center L3C. Calvin French-Owen, co-founder of . . Its hard for them to understand the broader space. Peter Reinhardt is the CEO & Co-founder at Charm Industrial. Then, I think when you get those right execs, then they can build out whole teams. Tell us about how you guys went about the fundraising process as well. Its actually a little too sunny here in San Francisco for me now. Read More: Pierre-Francois Thaler On Raising $200 Million To Make Supply Chains More Accountable. Dropbox Paper, a great shared writing environment. An 85-year Harvard study found the No. Driven, curious and inclusive leader. 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. What happened was that we had a pricing and packaging problem. Its hard, so you have to delay the early ones and pull forward the late ones. I think for our last shot, I think there might be a big idea behind analytics.js, this open source library. It ended up not being useful at all. What Now for a Fed That Has Fallen Behind theCurve Again? Net Worth: $54 Million. One of them, in particular, was when you experienced the growth rate that slowed a little bit, and that happened in 2015. People have said that around Series B is when it stops being about the vision, and it starts being about just the numbers. But the world has its problems, and it doesnt care what you think in terms of how it should operate. At first, Reinhardt completely disagreed with Taylor and felt it was "the worst idea of all time," he says. 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? : 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. . Tell us about what happened, and how did you guys overcome that challenge? Peter Reinhardt is co-founder and CEO of Segment, the customer data infrastructure company. . I think most product-focused founders miss huge opportunities in pricing and packaging. Once again, another product. 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. 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? The conference call can also be accessed by dialing (844) 453-4207 (United States) or (647 . 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. How was life there? 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. Marketing people who were using tools like HubSpot to generate and post content, and maybe manage other type of things. Peter Reinhardt is still very much interested in things related to space. $700,000. 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. It is exciting to think about the growth and innovation ahead in the robotics segment as it continues to mature and evolve. : 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. I would love to get to know you and understand this business prior to being under pressure to make a decision.. Segment. We still had no revenue, so we went out and raised a 2-million-dollar seed-extension round from Kleiner Perkins and E.ventures based on the traction that we were having in customer reviews, but not based on revenue. Can you also send data to my data warehouse? Kendall Vanderslice (Goodreads Author), Peter Reinhart (Foreword) 4.48 avg rating 25 ratings 2 editions. Alejandro: Wow. : 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. 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. That pays back in spades as people then operate on the same operating system of what everyone values inside the company. I learned a bit from seeing that in action. ideamensch is an interview platform for entrepreneurs, makers, and doers. Celebrities Peter Reinhart Net Worth Peter Reinhart Net Worth 2023, Age, Height, Relationships, Married, Dating, Family, Wiki Biography One of them, in particular, was when you experienced the growth rate that slowed a little bit, and that happened in 2015. Managing your psyche through years of failure and ever-increasing pressure is the perfect test of willpower. I think for our last shot, I think there might be a big idea behind analytics.js, this open source library. : We had just raised this money about two weeks before we deployed it, so we had to call back all the investors and say, This thing you just invested in, were really sorry, but its a terrible idea. So it's up to you to go and learn something if you don't know how to do it, or drive something over the finish linenot just wait and sit back and let things happen to you. Volodarsky: I don't have many regrets. I'm walking around, checking out the dorms, and I walked into one of the doors and Peter and Calvin just happened to be there. 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. Opinions expressed by Forbes Contributors are their own. "I'm excited to bring my passion for tackling climate . 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. So, the concept of a CRM being the customer data system of record doesnt make sense anymore. 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. Alejandro: So originally born and raised in Seattle. 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. 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. When we first started we figured, "hey, we're students, we should be solving student problems." So it was a really fast growth year. Segment's new CFO Sandra Smith and CEO Peter Reinhardt. Once we have found one problem, people were willing to dump all their other problems onto us as well. Finally, Im sure this was a big breakthrough for you guys from understanding the value of being able to listen to your target audience. That, to me, is a skill that Im constantly working on. I've just loved our journey here. Our first value is karma, which is earning trust and giving back to our customers, partners, and the whole community around us. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. Other Posts. Then I went off to MIT and started studying aerospace engineering there. 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. I lean on my co-founders. The other, obviously, is just scaling culture. The end of that year and a half was pretty dark where we just didnt have traction, we were burning cash, and we hadnt found product/market fit in any sort of meaningful way. 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 . Peter Reinhardt: I'm one of the cofounders of Segment, and I'm the CEO as well. 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