We were never challenged to go and figure out deeply, who is the customer? : 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. 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. Peter Reinhardt's income source is mostly from being a successful Actor. After their perspective-changing meeting Smith, Reinhardt, French-Owen and Volodarsky spent the rest of the school year trying to build products with which they could start a company. Can you also send data to my data warehouse? : Very nice. Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. : 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. 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. We started building a ton of infrastructure. But you didn't drop out of MIT until 2011, correct? Are there any characteristics they have in common? But is that kind of success still possible today, when many consider post-secondary education to be a staple? Use Forbes logos and quotes in your marketing. We shouldnt have had to we actually stood in the back of classrooms and counted screens to figure out what people were doing. Segment is a SaaS company helping thousands of companies collect and leverage their customer data. Its crazy hundreds of thousands of lines of code trying to make this overcomplicated classroom lecture tool. It ended up coming more from learning how the sales process works. Peter Reinhardt: One interesting thing that people always said that I have not found to be true. Number of Current Jobs 1. Each week in their MIT "Founder's Journey" class, the founder of a successful start-up would speak and answer students' questions. Why are so many SaaS founders taking money from Founderpath.com instead of VC`s? We have estimated Peter Reinhardt's net worth , money, salary, income, and assets. We believe in you guys. And it wasn't until they took an embarrassing risk that the dream seemed like it could be a reality. When the oven is preheated, score the bread with a sharp knife. "I'm excited to bring my passion for tackling climate . Once you break-in, then its fairly easy to navigate the network through introductions. Peter Reinhardt - https://twitter.com/reinpk - is cofounder and CEO of Segment - https://segment.com/ Segment helps companies capture data from every custome. This will be a fair test of whether this thing has product/market fit or not. What does that look like? I think if thats a piece of advice that I could go back and give myself, it would be to run straight at the problem. What happened was that we had a pricing and packaging problem. They dont have time to talk to customers. 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. Organization Name. 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. : Thats very powerful, Peter. Perhaps they will also appreciate it. When youre meeting with execs and recruiting these people, especially people that are a good fit with your culture, is there a specific thing that is an absolute must for you on every candidate? It ended up coming more from learning how the sales process works. The co-founders got accepted. Alejandro: In this case and perhaps in other situations of the business, how do you go about first, identifying the problem? Don Fluckinger, Senior News Writer. Peter Reinhardt is co-founder and CEO of Segment, the customer data infrastructure company. With my co-founders and an amazing leadership team we grew to over 600 . 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. Structural Info. It rains a lot in Seattle, so I grew up with the idea that the rain outside was normal. From left to right -- Calvin French-Owen, Ilya Volodarsky, and Peter Reinhardt. 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? 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. Bradford: When you're interviewing candidates, do you take into consideration their college education? I lean on my co-founders. They meet with entrepreneurs to invest. We were clearly failing to find product/market fit. Bradford: Think about the "A player" employees at Segment. They called it Segment and applied to Y Combinator. Were building an analytics tool, like a web analytics tool, to compete with Google, Webex, Mixpanel, Kissmetrics, or Adobe Analytics. I loved the book. From Left To Right: Meet The 30 Under 30 Politicians, Attorneys And Founders Who Will Shape The Next Decade Of Law & Policy, Governor John Kasich Is Concerned About The Direction Of The United States, On Being A Front Stabber: A Conversation With Anthony Scaramucci, Investing in Relationships: A Conversation With A Sustainable Wine Cofounder And Her Investor, The Worlds Greatest Gathering Of Young Entrepreneurs, The Forbes Under 30 Summit, Just Amped Itself Up, These Under 30s Just Raised $8M From Diplo And Celebs To Make Matcha Energy Drink Competitive with Red Bull, PODCAST: Meet The Under 30 Lerer Hippeau Principal Pursuing The Steepest Learning Curve, The Renowned Under 30 Chef Who Aims To Hire And Mentor All Immigrants. 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. 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. 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. Like, Classrooms should be digitized. How do you go about embracing culture, and what are some of the key lessons there that you could share with the people listening? Before and After Product-Market Fit with Peter and Calvin from Segment published October 11, 2017. iTunes Google Podcasts Spotify RSS. Jobs. 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. If you solve those, they will reward you for it. "Together, 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 weve really learned is that the process of figuring out whether or a product is going to have product/market fit prelaunch is very similar to the process of testing for qualification in the sales process. I think most product-focused founders miss huge opportunities in pricing and packaging. . 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 "That's the sort of clarity that you only get by talking to customers. Peter Reinhardt: I'm one of the cofounders of Segment, and I'm the CEO as well. Whats that transition from early stage to growth stage where you guys are. I look for evidence of those four things. When someone is running a fast fundraising process with a whole bunch of people, and its the first time theyre meeting them, its hard for them to assess the person. 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. Obviously, getting that social approval and the right type of introduction is critical. January 7, 2022. 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. Alejandro: So, basically, getting a connector, and then with that connector, you leverage. I also set personal goals once a year and reflect on them quarterly. By the spring of 2011, the friends had landed on the idea for a "classroom lecture tool" that would let students flag any points of confusion to professors. I didnt find that to be the case in our Series B fundraise. Driven, curious and inclusive leader. Peter Reinhardt: 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. Aug 4, 2018 . 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 . Peter Reinhardt is still very much interested in things related to space. It's super helpful to them. Charm Industrial CEO & Co-founder Jul 2017. The January reading for new-home sales is due next week, but the figure rose 2.3% in December. We actually built a lot of stuff that ended up not being useful. We built the landing page and posted it on Hacker News. We basically spent the next year building out various variations of that product, and frankly, not spending much time talking with customers. : Very nice. July 30, 1950. Peter Reinhardt: I read somewhere recently this concept of two ways of responding to problems. A live webcast of the conference call, as well as a replay of the call, will be available at https://investors.twilio.com. 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. 14. Edit this . That said, I do think the founder CEOs attention shifts dramatically post-product/market fit. 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? Whats that transition from early stage to growth stage where you guys are. Analytics.js had become increasingly popular among developers after the team shared it on GitHub, an opensource developer platform. For you, personally, what does that reflection process look like? Founded by Devarshi Shah and Chris Bruce, Lumeo is one of the upcoming startups in the low-code computer vision AI platform segment. 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. Of the call, as well as a replay of the call, will available... '' employees at Segment with a sharp knife interesting thing that people always said that I have found. 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