Got it. And it was just [22:11] during the process that its a startup, were at growth stage but not to expect to be able to predict our courses like that public company again. Vishal Makhijani President & COO. Its a Greek name, British accent. It is ultimately the culture. And were they like obviously now youre opening here the cap table to a different breed and I guess when that happen probably at a strategic level lets say from a board perspective or something you know, maybe you receive some type of recommendations whether it was with this corporation or with other corporations as to what perhaps to look for and what to avoid. It looks better for investors and it makes your life easier. Georgiades founded Zumper after his own . So it was never I want to be an entrepreneur journey. How does the day to day at Zumper work? So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. I learned more from you than you learned from me, and then your job as CEO is to do kind of two or three things, that is to continue to advance like the vision and the mission of the company and keep everything strategically aligned. Your job as the CEO and the founder is to convince your investors of the reason to do this. So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. Categories . Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. Yeah. So what I wanted to ask you here is in terms of on boarding lets say this type of, because its a different beast, you know type of investors so how does the approach from evaluating an investor that is a VC, an angel or an angel group shift towards evaluating a potential strategic corporation that is looking to become part of your cap table? Anthemos Georgiades: No. Ill set the first couple of meetings often alone but its been wonderful as weve grown our executive team to be able to bring like our VP of sales, our head of grow, our CPO in to the meetings afterwards when they want to meet the team. So we solved it to the first two years purely by getting landlords on board through various kind of product strategy and so our growth cuts for the first two years that we raised the [27:41] were purely about landlords and listing. Really, really nice to have you here and excited for the chat that we have ahead here. The second one is have a vision and a mission that people agree with and we all wanted to [37:13] this vision make renting an apartment as easy as booking a hotel. So I guess in your guys case, how do you deal with the egos and then more importantly how did you define the responsibilities early on so that you kind of have that healthy culture going on? The one unifying theme in every fundraising Ive run is momentum. Anthemos Georgiades: Yeah. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. So for Zumper our vision as I mentioned was to make renting an apartment as easy as booking a hotel and so instead of going in with just an idea, I built like a really crappy version of the end game that I wanted to build. Your job is to raise capital and your job is to kind of hire and retain the best talents. So today, we have another founder and another one that is quite successful in their own paths. And we built this website using an outsource development shop in Europe that just tested one assumption of the end game which was can we get users in 2011, 2012 just as mobile was coming online to apply and close apartments from their phone. Alejandro: So I guess like I have one thing to follow up on this. After that, it changed to more consumer. Try for free at rocketreach.co So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. So for the business, Anthemos, how much capital have you guys raised today? Taylor Glass-Moore Co-Founder. Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? Alejandro: Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? Budget in my opinion perhaps should be allocated to something else. To give you odds, at the seed stage and the series A stage of growth cuts, all about supply side where a two sided marketplace chicken an egg, on day zero you have no renters and no landlords, how do you solve that? Alejandro: Got it. When you look your cofounders, your team in the eye and you know theyre ready to go and theyre resilient and they come back in to build and try the next thing and youve kind of worked out together this is part of the game. I think Id say forget everything you think you know and everything, your education [38:28]. In the early days we love the exposure to Silicon Valley investors. In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. 1. Prices can change quickly! Were incredibly grateful for everything she did and she remains kind of shareholder in the company. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. Never thought Id be an entrepreneur. Got it. And so when you think about AB testing frameworks, you think about how many started [03:43] that is a [03:44] grad school taught me. But I guess you were saying then here the shift, kind of like shifted more from like growth of users perhaps retention to more kind of like deep revenue growth. Anthemos Georgiades: Yeah, sure. Anthemos Georgiades: Yeah. I mean I called it like a cheat [33:33] my team. And we were talking about the $46 million round which was the C round, C as in cat and basically what you were talking about I mean what Ive seen is that you guys have shifted a little bit the strategy. It has to be me and thats how I started the company six years ago after business school. It was like $46 million. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. And to be fair, some of these 20 did indeed come back later to invest but in Boston and I pitched all of the east coast investors first because I was on the east coast and they were straight nos. Saying that, in the early days you kind of need to bring on all the capital that you can. Alejandro: I love it. And so as you mature you look for a different kind of investor and that naturally tends to happen. My friend have had to camp out overnight outside the property management office to get access to the new apartment and this is [01:09] you know things coming online, you can order a cab via phone, you can book a hotel online. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles Yeah. We saw it would take three to six months to integrate Pat Mapper and their backend that engineering project we worked really hard and quickly just over a year to integrate so we underestimated like how much work was required to integrate them by 3x. Hello, everyone, to the DealMakers Show. My friend have had to camp out overnight outside the property management office to get access to the new apartment and this is [01:09] you know things coming online, you can order a cab via phone, you can book a hotel online. And then my other cofounder Kurt Taylor I met through his mother who was an [04:43] and it was another example of just pure hustle. They wanted to close apartments like they book a hotel and so took the status of like 35 different apartments we leased using the technology in San Francisco to VCs and said, Hey, were really going to rebuild all of this but heres some data that shows this really can work at scale, and thats how we raised the first million dollars from some of the names that you mentioned. And your cap table I mean as I was reviewing I just felt as I was looking at the Oscars of Silicon Valley, the red carpet. It looks better for investors and it makes your life easier. How many landlords did we have on the site? It was not something Ive really ever thought about before. Got it. We envisioned a world in which a renter can find apartments, book in [tour 10:18], turn up the [10:21] and if they want to take the apartment pre-qualify, leave a deposit and book the apartment. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. So what is the best way, Anthemos, for people that are listening to reach out and say hi? One is I wouldnt be too pressured about it too early. Now my cofounders were phenomenal in bringing them to meetings. How did you find these investors? Like many of our most successful entrepreneurs. So we bought them. glendale, az police activity today; archer lodge middle school calendar. So seed, series A, series B, series C, I was always the point person in the fundraise. Alejandro: So Im completely there with you. Youre supposed to try six things that dont work. A lot of business schools was how to make decisions with imperfect information. You know marketplaces and liquidity is king like you were pointing to finding what you need in the shortest period of time because otherwise theyre going to go elsewhere. So it was never I want to be an entrepreneur journey. June 12, 2022 . It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. Anthemos Georgiades: One Lesson That Led To Raise $90 Million From The Top Venture Capital Firms by Alejandro Cremades Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. Alejandro: Of course. And in terms of preparation, Anthemos, how has the preparation like preparing before going to market to start engaging investors, how have you seen with your business, with Zumper, how have you seen that changed over time as the rounds were maturing? August 4, 2020. It seemed crazy that the real estate industry wasnt moving towards on demand. Got it. Alejandro: Got it. You can set the expectations and then see what happens and if its not a good fit upfront, you can go with the different option on the table. Anthemos Georgiades: Yeah. Alejandro: Alrightee. Alrightee. If you guys are Zumper website, you can kind of kind at zumper.com the Contact Us or on Twitter I am just @anthemos, A-N-T-H-E-M-O-S on Twitter and yeah, I respond to people. Because I speak with a ton of founders that are perhaps opening up the possibility of bringing on corporations and I think that you need to really do it right. Yeah. So I wouldnt be too picky early. You rarely have enough data to make the absolutely correct decision and I think a lot of businesses fail especially start ups when they dont make decisions fast enough and in business schools, the case study methods taught me how to feel confident in making decisions without perfect information and how to use data to kind of then review once youve launched, whether it was right or wrong. Meaning hey, we send you a ton of leads this month that close in to leases. Thats quite motivating for people. This show is about storytelling and all the elements that go into telling the perfect fundraising story. Like what have you seen that really works? And it is the culture that keeps people here, not the compensation or anything else. You shameless have to mine your network and I think all CEOs and entrepreneurs have to find that edge of how did they meet one of these investors, how did they meet someone that knows them. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. All of it is going to be important and it will come out at the right stage. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. And even though that sounds so obvious six years later, people just werent doing this in 2011, 2012 and we created a bunch of data that overwhelming shows the renters wanted to be applying for apartments from their phone. At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. You can filter down by city and . So when you go in to a fundraising in terms of preparation the most important thing is that your last six months are great and your most important metrics are all growing really nicely so kind of five, six months in a row that is a fantastic story to tell to an investor. And investors love that story because its easy to believe that you can continue to do that. Everyone filling gaps where they could and it [07:02] fulfilling gaps in to where youre skilled and so I think the most obvious thing to do for that is to hire people with very different skill sets to you that allows you to never really have awkward overlap and egos because everyone is kind of skilled at something very unique. Over time, its great to be able to bring in your team. At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. Obviously they knew and I think for us it was like telling Axle and the rest of our investors that there are going to be months where we massively beat plans and there will be months where were behind plans. Anthemos Georgiades: Hey, thanks for having me. And then at business school, I think the single biggest thing I learned through the case study method which is how they teach it at Harvard Business School but I think its true. Got it. Zumper CEO and co-founder May 2012 Board and Advisor Roles Number of Current Board & Advisor Roles 1 Anthemos Georgiades is the Board Member at Zumper. I mean I called it like a cheat [33:33] my team. It is not suppose to be easy. Read More: Sujal Patel On Selling His First Business For $2.6 Billion And Now Raising $108 Million From Jeff Bezos And Others To Improve Medical Diagnostics. Anthemos Georgiades: Yeah. I mean I think at seed round its like an [26:02]. "While many markets cool off during the winter, Miami is still posting month-over-month increases. Your third month is getting kind of diligence done and getting the wires in to the door. And you know I think hiring is definitely tough but retaining is even more complicated so is there any things that you for example seen yourself that work on that front? We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. It was incredibly difficult. So seed, series A, series B, series C, I was always the point person in the fundraise. Were very clear with Axle Springer that we have a lot of consumer scale so a lot of people use our platform on a monthly basis but were still building the [21:55]. Never thought Id be an entrepreneur. So you know I think Axle Springer very used to appraising companies that match their scale. Anthemos Georgiades: Yeah. This pellet stove is a good heating solution for a smaller rather than a . For every successful fundraise, every single company have a lot of nos. Got it. I kind of looked through in Crunchbase which connections I have into which fund. Alejandro: Got it. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? Yeah. I knew the CEO for a while. You rarely have enough data to make the absolutely correct decision and I think a lot of businesses fail especially start ups when they dont make decisions fast enough and in business schools, the case study methods taught me how to feel confident in making decisions without perfect information and how to use data to kind of then review once youve launched, whether it was right or wrong. How many listings do we have on the site? You start to build depth and management structures. So you acquire not long ago Pat Mapper and how did this come together? So our CFO is fantastic and what he was able to bring to the series C was real credibility where I meet the investors, get them excited about our vision and our story and then they spend hours with the CFO on the second or third meeting digesting our historical financial as were talking about where were headed. So our CFO is fantastic and what he was able to bring to the series C was real credibility where I meet the investors, get them excited about our vision and our story and then they spend hours with the CFO on the second or third meeting digesting our historical financial as were talking about where were headed. Alejandro: Got it. He has grown the Zumper team to 50 and counting and successfully completed the acquisition of apartment search platform PadMapper. Its not about the ski trips and any of that you know. 77% of you were interested in a @zumper flex living pass 1.5 yrs ago Since then we - Added 500K+ flex listings - Launched a search UX for flex rentals We're now launching an MVP of Zumper Pass - a one & done subscription. Alejandro: Got it. She was our original CPO and after the series A, she moved on to roller, another company and we promoted someone internally to CPO. So I guess how did that consulting experience shape up your approach in terms of like tackling problems and the entrepreneurial journey itself? They are brilliant about. Got it. And your cap table I mean as I was reviewing I just felt as I was looking at the Oscars of Silicon Valley, the red carpet. Alejandro: Got it. How autonomous can people be at the junior levels? Hello, everyone, to the DealMakers Show. anthemos georgiades net worthperpetual futures binance. I was also doing, Ive been doing marketplaces for I think like 10 years now and I remember in the last company, I would go and meet with investors and they kept asking me for the chicken and the egg. Got it. I mean I think at seed round its like an [26:02]. Had worked at the Boston Consulting Group. Well help you prequalify renters and actually get the renter in to a lease, signing the documents, paying the first month deposit but well charge you a percentage of the lease fairly. And so I wouldnt be too pressured. Really good strategy to differentiate the demographics and were super happy with how it went down. How many listings do we have on the site? The most important thing is to surround yourself with an amazing support group because it is so much harder to build a company than I thought it was and the emotional resilience you need to get through the dark days and come back to the bright days even now is what [38:54] just get harder like yeah, we have more revenue now but with that there are people [38:58] and like huge revenue targets we have to attain and so the most important thing is surround yourself with a network of family, friends, mentors, peers, your team, your investors, whoever is an emotional crutch for you where you can take from them but also maybe get back to them as well when theyre having a tough time, thats the single most important thing is look after your mental health because it is lonely and it is stressful and if youre able to kind of be resilient you have a great outcome but it is really hard on some days to push through, so build that around just [39:35] and you can be happy while running your company. Got it. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. How do you scale like 20 million in revenue to 200 million in revenue and we didnt need the more product set investors because we already have fantastic people at that. So I learned a lot from a few companies that I loved, a few companies that I thought are doing crazy things I learned so much. And for you I guess personally and professionally because I think they both come together, so how has your leadership and management skills changed over the time from leading the company of lets say four to ten folks initially to a company of over a hundred employees? Alejandro: And did you diversify this responsibility with the other cofounders or was there one of you guys that has always been leading the chart on the financing side? So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. @zumper Stories Uncategorized So what was that process like you were talking about, yes, your network of Harvard but can you share with us like what was that process of landing Kleiner on your seed round? And were just a little earlier than obviously a public company so our gross is spikier. Make sure tenants understand why things are . So we have several million users using our platform every month now which is great and next year we wanted tens of millions of users a month and were poised to doing that. Anthemos Georgiades is the co-founder and CEO of Zumper, the largest startup in the rental industry, used by more than 26 million renters last year alone. Alejandro: Got it. Anthemos Georgiades: Yeah. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. And [14:42] in Silicon Valley is married to [graphics 14:43] mostly in terms of great companies just break out and succeed [agnostic 14:48] as to where people went to college or if they came from a wealthy or poor family. For every successful fundraise, every single company have a lot of nos. But theres no right answer in business. Were growing very quickly but none of that was true obviously in the first two years. Youre right that is wrong advice. Anthemos lives in San Francisco, where Zumper is HQd, with his wife. Oh yeah, on the seed round back in 2012, we had probably five investors come in to the seed round so we kind of had five yeses who put in small checks. 1.4.1 - Provisions of this Code Declared . When people ask me what Im most nervous about its how to keep our amazing team together, a couple of tactics and then one thing that really worked. Alejandro: Fantastic. We both wanted to be entrepreneurs. Got it. Alejandro: Got it. When you look your cofounders, your team in the eye and you know theyre ready to go and theyre resilient and they come back in to build and try the next thing and youve kind of worked out together this is part of the game. [06:54] the early days and it worked where there was just all hands to the pump. It was incredibly difficult. Whats your story and most importantly, how did you get started with the entrepreneurial bug? And so back to your point, yes, we want investors who are supportive of the fact that we didnt try to monetize the platform for the first three years because it would have created a barrier to entry. 1. Anthemos and Russell met in London while working at a consulting company back in 2006, but it was after they moved to the U.S and experienced the pain of finding a place to live that they decided to found Zumper along with Taylor Glass-Moore and Leah Jones. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Anthemos Paul Georgiades has been associated with one company, according to public records. Ill set the first couple of meetings often alone but its been wonderful as weve grown our executive team to be able to bring like our VP of sales, our head of grow, our CPO in to the meetings afterwards when they want to meet the team. anthemos georgiades net worth; wedding max minghella wife; private beach airbnb california; antique english double barrel shotguns; tuscany faucet cartridge removal; primeweld cut 60 machine torch; glendale, az setback requirements. Based in San Francisco, Anth leads the company in its mission to make renting an apartment as easy as booking a hotel. Got it. Got it. Retention is something I think about every day. I have no experience doing that. Its really built in the dark days of when stuff is really difficult and I think Zumpers culture now is we have a lot of users still remembers and its a testament to those dark days and we never take anything for granted. And so I wouldnt be too pressured. Yes, weve raised $90 million in capital including a series C that we just closed three months ago. With a diverse background that includes consulting for Boston Consulting Group and serving as Economic Advisor and speechwriter in the 2010 British Election, Anthemos founded Zumper in 2012 after his own terrible rental experience. Every company is completely different and theres no gold standard.
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