At college in the UK, Ive had like multiple [00:58] renting apartments. How do you take a company with those tractions, 10 million in revenue. How to tell a story worth $140 million dollars - Funded Podcast 1. 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 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? 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? Just enter your email below. 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. See How I Can Help You With Your Fundraising Efforts. He was with HBS 10 years ago. Anthemos Georgiades (Zumper) | Startup Grind Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. 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. 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, Cap Table: Everything Entrepreneurs Need To Know, He Cofounded A Business Of 4,000 Employees That Just Sold For $2.6 Billion To Delivery Hero, Sacha Michaud On Cofounding A Business Of 4,000 Employees That Just Sold For $2.6 Billion To Delivery Hero, His Previous Business Is Worth $1 Billion And Now Raised $54 Million To Create A Cloud-Native Database Service, Nikita Shamgunov On Building A $1 Billion Business And Now Raising $54 Million To Create A Cloud-Native Database Service, How to leverage your network for introductions, The importance of your metrics leading up to the, Expectations from investors during the different. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? So how did you meet your cofounders? Your second month you spend getting term sheets and documents signed. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. Could you meet him? And so whereas that doesnt guarantee any success we obviously have to have really good numbers and a really good story to tell them. And so as you mature you look for a different kind of investor and that naturally tends to happen. Search icon - dusa.perfecttrailer.de 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. Saying that, in the early days you kind of need to bring on all the capital that you can. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. I say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. Anthemos Georgiades is CEO/Co-Founder at Zumper Inc. See Anthemos Georgiades's compensation, career history, education, & memberships. 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 how did you meet your cofounders? Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. Never thought Id be an entrepreneur. 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. I knew the CEO for a while. Anthemos Georgiades: Hey, thanks for having me. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. 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. Alejandro: Got it. I mean at the end of the day, building and scaling companies especially when youre at the early stages is all about survival and its all about learning to be with each other behind the trenches and really going to war and having each others backs. Its a Greek name, British accent. So I wouldnt be too picky early. It is not suppose to be easy. Keeping good lines of communication open can solve many landlord/tenant problems. 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. comfortbilt pellet stove low temp alarm He had actually interviewed me for a job at a different consulting firm and we stayed in touch. Pat Mapper caters to 25 and under and kind of big college populations. 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. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? 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. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. I mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. Pat Mapper caters to 25 and under and kind of big college populations. Thank you so much. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? Absolutely. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? 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. It is ultimately the culture. Anthemos Georgiades On Building A Marketplace That Helps Millions of 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. So you know I think Axle Springer very used to appraising companies that match their scale. Anthemos Georgiades - Co-Founder & CEO - Zumper | LinkedIn So in the first two years, Zumper is now [07:52] $90 million in capital. I say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. For Zumper's Georgiades, many Florida markets, such as Fort Lauderdale, Miami, Orlando, and Tampa, have been the big pandemic winners. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. 1.4.1 - Provisions of this Code Declared . 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 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? [06:54] the early days and it worked where there was just all hands to the pump. Anthemos Georgiades: Its part of the game. In the early days, youre going to need to take all the capital you can get. I mean your job moves from doing jobs in the first few years. Get Anthemos Georgiades's email address (a*****@zumper.com) and phone number (646398..) at RocketReach. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. 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. Vishal Makhijani President & COO. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. Rental listing startup with more than 26 million users. 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. Yeah. Got it. Rocketreach finds email, phone & social media for 450M+ professionals. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. 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. A lot of it was completely bottom up. Budget in my opinion perhaps should be allocated to something else. They were super lean team of under five people and its been a great deal for Zumper like we have one backend, one sales team and then two consumer platforms. 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. 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. 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? 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 so I wouldnt be too pressured. It looks better for investors and it makes your life easier. Yes, weve raised $90 million in capital including a series C that we just closed three months ago. Alejandro: Got it. 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. Got it. Like what have you seen that really works? Alejandro: Got it. In many instances, really acquisitions are great to either feel growth on the company itself, either on the product or perhaps by adding a great talent, but unfortunately many M&A transactions fail really on the integration side of things. Zumper - Contacts, Employees, Board Members, Advisors & Alumni - Crunchbase 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. 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. He discovered that the marketplace doesnt work for renters, and the idea for Zumper was born with the goal of evening the playing field and increasing transparency in the marketplace. 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. 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. In the early days we love the exposure to Silicon Valley investors. Look how quickly our revenue are scaling. How did you find these investors? Yeah, I mean BCG I think you get access to the 23 year olds CEOs who had been working for 40 years and kind of crazy in consulting you take the shortcut in your careers to being in the board room. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. Got it. I think if you set these expectations from the very beginning that are super important. So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. Oh wow, good question. So it doesnt always work out and I think thats fine. 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. That is where your focus is and even though you kind of missed doing some of the stuff and the weeds and my team continue to tell me to get away from the weed and continue to [36:12] the 50,000 set, you have to let it go and trust your team to do a better job than you were doing. So today, we have another founder and another one that is quite successful in their own paths. Of course. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. And so I wouldnt be too pressured. At series A, you got to show product market set in a sub vertical. Anthemos Georgiades: Yeah. Had worked in politics. Anthemos Georgiades is co-founder & CEO of Zumper, the largest startup in the rental industry. 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. And frankly, the process is a pain in the ass. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. You can filter down by city and . They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. He has grown the Zumper team to 50 and counting and successfully completed the acquisition of apartment search platform PadMapper. Had worked at the Boston Consulting Group. 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? Anthemos Georgiades: So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. If you want me to help you with your fundraising, just book a call. Meaning hey, we send you a ton of leads this month that close in to leases. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. She was our original CPO and after the series A, she moved on to roller, another company and we promoted someone internally to CPO. Anthemos Georgiades - Quora Weve only been working with Axle Springer for four months now but they are fantastic. We have like four people at the company for the first year or maybe five for the first year and so theres so much to do and theres so little time and few resources that you actually theres no real intellectual whiteboarding session that you do to carve out rose. 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. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. Get 5 free searches. Alejandro: I love it. Everyone in Boston, everyone in New York were straight nos and [25:15] didnt get second meetings but then a month later we came to Silicon Valley and we found a much better product market set for the kind of investor who was prepared to come early and invest early and we got a lot of yeses very quickly. Im so glad I did it. I mean I called it like a cheat [33:33] my team. Got it. 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. Thats your job. Dave Costantino Staff Engineer - Backend. Its a good question. 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. I knew the CEO for a while. And the biggest change in the series C I just raised versus in the early days is having a CFO. So lets talk about Zumper here. 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. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. A lot of that is in the bank. It happened but I wouldnt say its like an obvious part. Anthemos Georgiades Email & Phone Number - Zumper | ZoomInfo Georgiades founded Zumper after his own . Got it. what was the premier league called before; anthemos georgiades net worth They may not understand marketplace as well as you but they may be able to bring a brilliant way of thinking about how to bring the supply on [30:20]. 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. 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. 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. It just really helps to divide and conquer like that while I was meeting new investors again. 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 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. Anthemos Georgiades, Zumper, European Founder, International Founders, Marketplace The process of renting apartments hasn't changed since Craigslist was introduced. And as you know as and your listeners know, youre going to get a lot of nos on the way. So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. I mean your job moves from doing jobs in the first few years. 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. Yeah. Anthemos Georgiades - Previous President for Zumper, Inc. 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. So thats how Zumper got started. Great question. Its a Greek name, British accent. 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. Got it. Yeah. Think Masterclass for Management. At scale you get to do that and have those teams. Anthemos Georgiades: Yeah. Anthemos Georgiades: Yeah. Got it. It seemed crazy that the real estate industry wasnt moving towards on demand. We both wanted to be entrepreneurs. After that, it changed to more consumer. So Anthemos, whats the business model here? Budget in my opinion perhaps should be allocated to something else. I think if you set these expectations from the very beginning that are super important. ! anthemos georgiades net worth It was like $46 million. Yeah. 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? Anthemos Georgiades: Its just part of the game and it doesnt [24:30]. 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. You look at your cofounders and you know that they understand that and that theyre not freaking out, that is where you build real institutional culture and then you try and grow that across the team. 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. In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. A lot of business schools was how to make decisions with imperfect information. Two sided marketplaces are so difficult. Its hard. So I saw for example Axle Springer which is you know more kind of like the corporate. So we tell the small landlords, Hey, dont just advertise in Zumper. 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. Thank you so much. 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 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. Anthemos Georgiades is the CEO and co-founder at Zumper. Alejandro: Got it. So in the first two years, Zumper is now [07:52] $90 million in capital. 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. Never thought Id be an entrepreneur. Based in San Francisco, Anth leads the company in its mission to make renting an apartment as easy as booking a hotel. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. 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]. If you want me to do your fundraising for you, click here. 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. Ckg1 Ckp1 - Ckg1a63-100 But was drawn in to it just to solve a problem as I think so many entrepreneurs are.

Kathy Mccampbell Vance, Food And Entertainment Birmingham, 22nd Virginia Infantry, Articles A