The Ledger
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Latka: Y Combinator-backed Segment generates over $20M in monthly recurring revenue
“YC backed over twenty million in MRR. Twenty million monthly.”
Reinhart: Segment drives growth via engineering content tailored to developers
“Yeah, frankly, it mostly comes from content that we write about the engineering problems that we're solving. So we're a little weird in that we're sort of a marketing tool, but we really actually sell to developers and engineers, VPs of engineering and CTOs. A…”
Reinhart: It is very difficult to sell the value of insights
“It's also very difficult to sell the value of insights.”
Reinhart: Data integration is a much bigger problem in enterprise than startups
“I think you can't stay stuck in, in small startup land forever, and at least for us, I think the problem that we're solving, this sort of integrating data problem, is actually, it's a much bigger problem in the enterprise than it is in, in the startup world, a…”
Heiser: Segmint charges banks 5¢ to 20¢ per account per month
“So we charge anywhere from like a five to six cents based on what features are using in our product all the way up to 15, 20 cents per month. And that's on a per account basis. And it's also scales based on how many account quarters I have.”
Heiser: Segmint serves banks from $200M assets up to top 50 institutions
“We have institutions as small as, you know, two or three hundred million in assets to institutions that are in the top 50 in the country.”
Heiser: Segmint has raised over $30 million in outside capital
“Oh, we raised, we've raised over thirty million dollars.”
Heiser: Segmint processes billions of financial transactions per year
“What we're doing on the library side is we're categorizing all that data, so we're seeing, you know, billions of transactions a year, and so we see those transactions and we're categorizing them both by the technology that we built, but”
Hexton: Zapier and MailChimp combinations are too fragile for mid-market companies
“We're built from the ground up to sit on top of that, like, raw, rich event stream that segment sends. So you're not really It's just less cobbled together, and if you're a serious mid-market plus company you know, you want robustness, you want to be able to s…”
Reinhart: Average Segment customer pays around $2,000 per month
“It's on average, probably about 2000 something dollars per month. And then on enterprise, it's much more than that.”
Reinhart: Segment avoided charging for 9 months due to fear
“And honestly, the reason why we didn't try to charge anyone for about nine months was because we were just terrified of asking people for money, which is like really bad if you're trying to build a business.”
Reinhart: Segment's net revenue churn is -10% to -30%
“Probably -10 to -30. That's right. It oscillates a lot. It's a small, small. Cohort still.”
Reinhart: Segment reached 70 active companies within 13 days of hosted launch
“So we launched the open source library on December 12th, 2012, five days later on December 17th, we launched the first hosted version where people could turn things on and off inside of our dashboard, and by December 30th, so 13 days after that, we had about 7…”
Reinhart: Segment connects data to about 220 downstream integrations
“We can send data to about 220 places downstream.”
Reinhart: 300,000 websites use Analytics.js and 15,000 use Segment
“There are now a 300,000 websites using analytics JS under the covers. About 15,000 of those companies use segment.”
Reinhart: Segment bills based on monthly tracked users
“We bill based on the number of monthly tracked users, so if your business grows, we grow with you.”
Reinhart: Segment has 600 partners on its integration waitlist
“So we have a waiting list of about 600 partners who want to integrate.”
Reinhart: Segment shifted from API pricing to incentivize data collection
“We used to price based on the number of API calls, but we found that it one was associated more with cost on our side to process the data, which is a and generally, you know, we want to encourage people to record more data about who their customers are. So the…”
Hull.io is like Segment on steroids, but executed better
“Oh, so H U L L dot AO, which is basically segment on steroids. So done better. That allows you to store your data and manipulate your data. And this has been a tremendous help for marketing sales and customer success team to improve process game time and add a…”
Heiser: Most Segmint clients pay on a per-account-holder monthly basis
“The most traditional will with what most of our customers do is they pay us on a per customer per month basis. So basically account holder. And that's for our kind of end-to-end platform.”
Heiser: Segmint serves a dozen direct institutions and 50+ via resellers
“So we have very small amount of direct customers, so we don't, again, we work with channels, so we probably have about a dozen or so institutions that we work with directly, but beyond that, we have, you know, over 50 institutions, if you're looking at that, i…”