So we tell the small landlords, Hey, dont just advertise in Zumper. How do you take a company with those tractions, 10 million in revenue. It was at the time Pat Mapper example almost the same size on consumer but now Zumper is much bigger but we called it like a cheat and your job as the founder is to identify like vertical cheats where overnight you become bigger than your competitors. Anthemos Georgiades on Twitter: "77% of you were interested in a So all good companies have multiple offers on the table. So you acquire not long ago Pat Mapper and how did this come together? For every successful fundraise, every single company have a lot of nos. Youre right that is wrong advice. In the early days, youre going to need to take all the capital you can get. Alejandro: Of course. Your third month is getting kind of diligence done and getting the wires in to the door. Anthemos Georgiades (Zumper) | Startup Grind It is not suppose to be easy. So tell me your story a little bit here, Anthemos. Thank you so much. There was no book [01:41]. 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. It was incredibly difficult. And so just be prepared that however smart, however many smart people have looked the deal and thought about whether it will work, it always take a little bit more time than you think it will to integrate because theres always some gremlin kind of hiding in the works that youre going to find. 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. Its so hard to get marketplaces liquidity so correct, the beautiful thing as you know is when you have it, it took us three years to get to that, it just runs and you just grow naturally when you have both sides but its so hard to get to it. So I guess for those listeners that are looking at acquiring other companies to perhaps grow a little bit faster, what kind of advice would you give to them? 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. 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. Yeah. 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. All of it is going to be important and it will come out at the right stage. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles But oh we must have had like 20 persons or 20 people say not now or later. 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. We both wanted to be entrepreneurs. How autonomous can people be at the junior levels? 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Shalin Amin Chief Experience Officer. Look how quickly our revenue are scaling. 1.4.1 - Provisions of this Code Declared . 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? Published by at June 13, 2022. We also actually had a really wonderful fourth cofounder whos no longer with us. 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? I think if you set these expectations from the very beginning that are super important. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. 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. It happened but I wouldnt say its like an obvious part. At series A, you got to show product market set in a sub vertical. Anthemos Georgiades on LinkedIn: Elevate Academy | Elevate Leadership In the early days you as the CEO you are the fundraiser, you are the effective CFO, youre the head of sales and you kind of have to do the whole thing. Get Anthemos Georgiades's email address (a*****@zumper.com) and phone number (646398..) at RocketReach. Youll get terms sheets and yeses hopefully quicker than that but this process takes a while and as the money increases and a few rounds become more complicated, it can take more than three months as well. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. And frankly, the process is a pain in the ass. Thats just part of the game. Theyre both incredibly smart as are my executive team who are also like critical to fundraise where Ill go in and sell the vision often alone. 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? Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. Its hard. Not really actually. Yeah. Prices can change quickly! In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. 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. 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. I was really impressed when because its not hard, its almost impossible to land VC such as Kleiner Perkins on literally your first financing round, the seed round. Youre supposed to try six things that dont work. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. Yeah. 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. 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. I really enjoyed it and great stuff. 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. So Id say your first month you spend like getting first, second, third meeting. How flat is the company? Alejandro: And talking about hustling the network, was there any because I mean those networks that you have I think the network of Harvard is really fantastic and then you know the BCG as well but is there like any process that you followed to really like leverage the network? And so I wouldnt be too pressured. Zumper has 7 current employee profiles, including CEO and co-founder Anthemos Georgiades. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. So I think three months is an efficient round. anthemos georgiades net worthperpetual futures binance. Got it. So I guess for a marketplace or lets say for the people that are listening to us like what kind of metrics do you think for the most part if were talking about hyper growth companies, like they should be a little bit more mindful about? They are brilliant about. I was just talking to a friend of mine about this. 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. So you kind of just have to [25:29] but just to be clear yeah, we had far more nos than yeses at the seed round. 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. One Lesson Led This Entrepreneur To Raise $90 Million From The - Forbes How many landlords did we have on the site? A lot of business schools was how to make decisions with imperfect information. Anthemos Georgiades: Yeah. It was not something Ive really ever thought about before. Based in San Francisco, Anth leads the company in its mission to make renting an apartment as easy as booking a hotel. I mean I called it like a cheat [33:33] my team. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. It has to be me and thats how I started the company six years ago after business school. 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. Your second month you spend getting term sheets and documents signed. 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. It was at the time Pat Mapper example almost the same size on consumer but now Zumper is much bigger but we called it like a cheat and your job as the founder is to identify like vertical cheats where overnight you become bigger than your competitors. Yeah. Anthemos Georgiades: Yeah. They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. How many listings do we have on the site? Never thought Id be an entrepreneur. Alejandro: Got it. Got it. 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. At series A, you got to show product market set in a sub vertical. Theyre struggling to kind of grow their audience because they didnt have enough listings whereas Zumper at the getgo we had a lot of unique landlords on the platform that no one else had. 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? FUNDED EP01: How to tell a story worth $140 million dollars (Zumper) 00:00 51:07 Episode Summary Anthemos Georgiades, founder of Zumper, perfected his pitch the way most founders do: through trial and error. Alejandro: Got it. 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. Got it. 1. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. Every company is completely different and theres no gold standard. Additionally, Anthemos Georgiades has had 2 past jobs including Consultant at The Boston Consulting Group. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. At the end of the day though, whether its senior people, junior people, interns who we want to bring back is all under pinned by culture. Whats your story and most importantly, how did you get started with the entrepreneurial bug? 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. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? It was just purely hustling my network for six months to find people who are really great cultural fit but also have very different skill sets to the one I have. 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. Saying that, in the early days you kind of need to bring on all the capital that you can. Search icon - dusa.perfecttrailer.de I mean I called it like a cheat [33:33] my team. So thats how Zumper got started. Got it. I guess the question that I would ask you and perhaps some advice for some of those that are listening, that are building a business that is more around the network effects, the marketplaces, should they walk the other way if the investor is asking too much about revenue early on on the financing cycles? But oh we must have had like 20 persons or 20 people say not now or later. At series B, you got to show product market set across the board with the revenue and then at series C, you got to show real traction and real revenue and a proper P&L. But I will say the one thing is true is that you always raise on momentum. So today, we have another founder and another one that is quite successful in their own paths. 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. Anthemos Georgiades: No. Yeah. We both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. 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. A lot of it was completely bottom up. Think Masterclass for Management. Anthemos Georgiades: One Lesson That Led To Raise $90 Million From The Saying that, I have connections through both business school and previous people that have gone through BCG venture capital and most of your listeners and entrepreneurs will know so much of this is about like getting warm introductions to VCs so I did have a couple of cheats to get in through the network or through the BCG network. I mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. 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 [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. Got it. Had worked at the Boston Consulting Group. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. His passion for relieving the stress for others in apartment rentals has given birth to a venture which has now raised $90 million, has experienced tremendous growth, and boasts a VC line up of some of the most prized investors in Silicon Valley. Got it. I think Id say forget everything you think you know and everything, your education [38:28]. Zumper Board Member Related Hubs 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. 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? 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. Anthemos Georgiades: Yeah. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. And at one point I just told one I just feel like I want to step on the egg and shoot the chicken because it was so repetitive. And so just be prepared that however smart, however many smart people have looked the deal and thought about whether it will work, it always take a little bit more time than you think it will to integrate because theres always some gremlin kind of hiding in the works that youre going to find. 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? And then now your job at five, six years in with a team of a hundred with higher and amazing executive team who are all better at doing their jobs than you would ever be and so your job is almost as a CEO is to like hire yourself out of a job where you hire people, where you look at them and you think, Wow, I cant believe you report to me. Got it. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. How did you find these investors? 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. 1. 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. So you still have to land it and once youre on the door it doesnt matter where you come from you have to have something good. Prior to his work at Zumper, Georgiades worked at the Boston . Anthemos Georgiades: Yes, weve raised $90 million in capital including a series C that we just closed three months ago. In terms of investors, I guess two comments. At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. Alejandro: Got it and before we actually dive in to the journey here, so consulting and business school, this is a few things that I typically hear so from some of our other guests. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. And it is the culture that keeps people here, not the compensation or anything else. What are some tips for successfully navigating the rental market from a renter's perspective? So that was great. So Anthemos, whats the business model here? 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. Now we have supply so the six months curve at the series B was all about users and millions of monthly users and then at the series C it was much more revenue curve. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. I kind of looked through in Crunchbase which connections I have into which fund. Got it. So I guess lets say we had the opportunity to put you in front of your younger self, Anthemos, in 2012 before you were to close that seed round, what would be that piece of advice that you would give to your younger self with everything that youve learned having this journey ahead of you? You are going to get a bunch of nos so I wouldnt rule people out too early. So it doesnt always work out and I think thats fine. All photos courtesy of Forbes Councils members. So how did you meet your cofounders? How many listings do we have on the site? Vishal Makhijani President & COO. I didnt think that either of them originally. Alejandro: Of course and I agree with you there, Anthemos. Anthemos Georgiades: Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. It seemed crazy that the real estate industry wasnt moving towards on demand. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. It was always a man, there is a really tough problem that consumers experience and no one is solving it. 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. If you dont have those connections, I think this is where like a lot of these accelerators and incubators, Y Combinator or Techstars or Launch are really good where you can apply. Rocketreach finds email, phone & social media for 450M+ professionals. How much respect is there? 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. Got it. June 12, 2022 . Got it and before we actually dive in to the journey here, so consulting and. Had worked in politics. In the early days we love the exposure to Silicon Valley investors. I think its easy not to set those expectations and get caught in the relationship where neither side is being clear on what they expect. It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. Whats your story and most importantly, how did you get started with the entrepreneurial bug? 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. Its a Greek name, British accent. So I wouldnt be too picky early. So what is the best way, Anthemos, for people that are listening to reach out and say hi? In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. You start to build depth and management structures. Well, today's guest noticed that experience and wanted to improve it. Your second month you spend getting term sheets and documents signed. And so I wouldnt be too pressured. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. Anthemos Georgiades: Yeah. Anthemos Georgiades: Yeah. Anthemos Georgiades: Yeah. Keeping good lines of communication open can solve many landlord/tenant problems. Saying that, I have connections through both business school and previous people that have gone through BCG venture capital and most of your listeners and entrepreneurs will know so much of this is about like getting warm introductions to VCs so I did have a couple of cheats to get in through the network or through the BCG network. Ckg1 Ckp1 - Ckg1a63-100 True to its reputation, Comfortbilt's HP22 pellet stove comes with a heating capacity of 50,000 BTU. Theres never like an exact number you need like when Uber raised money or you know Zillow raised money, theres never like a number they have to be at. 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. Anthemos Georgiades: Hey, thanks for having me. So tell me your story a little bit here, Anthemos. Alejandro: Got it. In the early days, youre going to need to take all the capital you can get. So today, we have another founder and another one that is quite successful in their own paths. Anthemos Georgiades. So you know I think Axle Springer very used to appraising companies that match their scale. I mean to a point network gets you an intro but a lot of intros are 10 minute meetings where the VC immediately decides its not for them which is totally fair. In the early days you as the CEO you are the fundraiser, you are the effective CFO, youre the head of sales and you kind of have to do the whole thing. Alejandro: So I guess in just to like follow up on that, what in your mind and obviously in what youve seen creates really that magical relationship between cofounders? So I as British person moving to Silicon Valley in 2012 I have never run a startup before. So in the first two years, Zumper is now [07:52] $90 million in capital. As CEO, Anthemos has raised $39.2 million in venture capital from investors including Kleiner Perkins, Goodwater Capital, Breyer Capital and Foxhaven Asset Management, including a Series B round in Oct. 2016 when many start-ups were struggling. 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. Saying that, in the early days you kind of need to bring on all the capital that you can. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. So we bought them. Im so glad I did it. He was with HBS 10 years ago. So we tell the small landlords, Hey, dont just advertise in Zumper. They take every, some people go and warm theirif you have a brilliant idea, theyd be crazy not to take it and then their entire value is obviously give you a three month program and then at the end expose you to liek 40 investors.