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. Thats your job. You kind of just all in [06:39] I think where the carving of the rose start to happen for me around 10, 12 people where you no longer just have [06:49]. I grew up in London. We didnt go that route because I have the network but if I didnt have the network and some people have the network and still do it, they are really good cheap in to getting scaled quickly. So I guess how did that consulting experience shape up your approach in terms of like tackling problems and the entrepreneurial journey itself? 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. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? He remains a huge Tottenham Hotspur fan, and wakes up painfully every Saturday morning to tune into the live English soccer games. It is your job not just to do the day to day but once or twice a year you should be doing stuff that has a completely linear outcome where one day youre doing you know 3 million users a month and the next day youre doing 5 million users a month. So the series B, weve done story now look at how quickly the renters are growing on the platform. Hello, everyone, to the DealMakers Show. And so I finally just gave in and thought no one is going to build this. And so I didnt really think about it too often because this is kind of 15 years ago but then I moved to another six or seven times into an apartment rentals in London, in Boston, in New York and the process is so bad every time, not just in searching but also in actually like getting the apartment. 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. Youre right that is wrong advice. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. Anthemos Georgiades CEO and co-founder. 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. Whats your story and most importantly, how did you get started with the entrepreneurial bug? Thats just part of the game. Anthemos Georgiades: Yeah. Had worked in politics. Got it. Yeah. 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. Got it. Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? So seed, series A, series B, series C, I was always the point person in the fundraise. Its hard. Rear mounted 3" standard exhaust port, and 2" standard air intake Exterior dimensions of unit are 24" wide, 26" deep, and 40" high with mounted controller. He runs all the background of operation and he came from the real estate industry, two completely different background and neither of them was an obvious pick when I started the company at grad school. At college in the UK, Ive had like multiple [00:58] renting apartments. Fantastic. 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. Alejandro: 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. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. Got it. 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? Youre supposed to try six things that dont work. How do you take a company with those tractions, 10 million in revenue. 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. 1.4.1 - Provisions of this Code Declared . Every fantastic company has had hundreds of nos on the way to kind of huge outcomes and you just cant take it personally. It is ultimately the culture. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. rex harrison audrey hepburn relationship. How many landlords did we have on the site? So tell me your story a little bit here, Anthemos. At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. I grew up in London. Anthemos Georgiades: Its just part of the game and it doesnt [24:30]. So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. "These markets had a huge net migration from New York and California, and they have held up," he says. Saying that, in the early days you kind of need to bring on all the capital that you can. Got it. So tell me your story a little bit here, Anthemos. 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. Anthemos Georgiades: Yeah, sure. Well, Anthemos, it has been a pleasure to have you on the show. So thats how Zumper got started. Yeah. 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. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. 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. It just really helps to divide and conquer like that while I was meeting new investors again. Absolutely. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. Your second month you spend getting term sheets and documents signed. And so as you mature you look for a different kind of investor and that naturally tends to happen. So watching board members from the early investments are [19:38] who now runs Good Water but was originally Kleiner and then Eric [19:42] from Kleiner and theyre both experts at product market set. 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. In terms of investors, I guess two comments. We raised like a million dollars in seed money, that was running out so we tried various things that didnt work and I think the fabric of our culture that is still true today when we have a hundred people is built in the dark days and those days where your stuff is not working, your users arent growing, and how you look at your teammates and how you guys turn up on a Monday morning after a really crappy week the week before where maybe someone quit or maybe the metrics went south. I was just talking to a friend of mine about this. Anthemos Georgiades: Yeah. Get Anthemos Georgiades's email address (a*****@zumper.com) and phone number (646398..) at RocketReach. 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? Got it. So I think as your company matures, you look for investors that have something that you dont have and so for us, were not yet doing $100 million in revenue. Anthemos Georgiades: Yeah. 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. Yeah. And investors love that story because its easy to believe that you can continue to do that. So cofounders are difficult especially if youre not technical as really hard to find a good technical cofounder but the great thing is once you do and it takes a long time, they are able to attract the next generation of talent in to the company and thats how you kind of build your engineering team out. 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? 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. What are some tips for successfully navigating the rental market from a renter's perspective? Anthemos Georgiades: Yes, weve raised $90 million in capital including a series C that we just closed three months ago. So Anthemos, theres always a first time and you know I guess this is the first time in the history of the DealMakers Show that Im able to interview someone that has been involve on the M&A but more on the buy side. So if the story has changed in a way that merits the focus of the company but what is consistent every single time weve raised is that for six months in a row, we had really, really quick growth. It was not something Ive really ever thought about before. 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? And as you know as and your listeners know, youre going to get a lot of nos on the way. I mean I called it like a cheat [33:33] my team. Hes raising money now. They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. 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. So I wouldnt be too picky early. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. 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. 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: Yeah. Try for free at rocketreach.co 1. One is I wouldnt be too pressured about it too early. Great question. So we tell the small landlords, Hey, dont just advertise in Zumper. Yeah. 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. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. True to its reputation, Comfortbilt's HP22 pellet stove comes with a heating capacity of 50,000 BTU. Yeah. And as you know as and your listeners know, youre going to get a lot of nos on the way. We raised like a million dollars in seed money, that was running out so we tried various things that didnt work and I think the fabric of our culture that is still true today when we have a hundred people is built in the dark days and those days where your stuff is not working, your users arent growing, and how you look at your teammates and how you guys turn up on a Monday morning after a really crappy week the week before where maybe someone quit or maybe the metrics went south. Hello, everyone, to the DealMakers Show. In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. So I wouldnt be too picky early. Thats your job. Yeah. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? It was always a man, there is a really tough problem that consumers experience and no one is solving it. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. Got it. Likewise. 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 didnt think that either of them originally. Please subscribe to unlock this content. glendale, az police activity today; archer lodge middle school calendar. Anthemos Georgiades. How many listings do we have on the site? So the series B, weve done story now look at how quickly the renters are growing on the platform. Your job as the CEO and the founder is to convince your investors of the reason to do this. He runs all the background of operation and he came from the real estate industry, two completely different background and neither of them was an obvious pick when I started the company at grad school. It was always a man, there is a really tough problem that consumers experience and no one is solving it. 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. Really, really nice to have you here and excited for the chat that we have ahead here. 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. Alejandro: Of course and I agree with you there, Anthemos. 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. Thank you so much. 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. 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. So Id say your first month you spend like getting first, second, third meeting. Got it. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. Stay informed using all the free online rental data out there (like Zumper's national rent report). Look how quickly our revenue are scaling. Anthemos Georgiades: Yeah. It looks better for investors and it makes your life easier. So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. Anthemos Paul Georgiades has been associated with one company, according to public records. Dave Costantino Staff Engineer - Backend. Got it. Its not about the ski trips and any of that you know. 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. 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. So what is the best way, Anthemos, for people that are listening to reach out and say hi? Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. I'm so proud of my wife Lucy Georgiades and her cofounder Lindsey Nehls on launching their business Elevate Academy today. Tanguy Le Louarn Chief Product Officer. And investors love that story because its easy to believe that you can continue to do that. Yeah. 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. In the early days we love the exposure to Silicon Valley investors. Saying that, if you do have multiple term sheets the second point is of course, like before you get to liquidity, revenue is irrelevant and if revenue gets in the way of bringing either the consumer on to your platform or the supply side person on to your platform, you should not be trying to charge. 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. Got it. Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. Vishal Makhijani President & COO. Thats just part of the game. Over-Communication. 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? 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. How autonomous can people be at the junior levels? So I saw for example Axle Springer which is you know more kind of like the corporate. They are brilliant about. This pellet stove is a good heating solution for a smaller rather than a . For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. It is your job not just to do the day to day but once or twice a year you should be doing stuff that has a completely linear outcome where one day youre doing you know 3 million users a month and the next day youre doing 5 million users a month. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. 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.
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