But oh we must have had like 20 persons or 20 people say not now or later. How much respect is there? So I think three months is an efficient round. 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. It seemed crazy that the real estate industry wasnt moving towards on demand. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. 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. 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. Stay informed using all the free online rental data out there (like Zumper's national rent report). Absolutely. anthemos georgiades net worth. You just get to this kind of motion of you all feel the same and you kind of pull in the same direction. 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. Every company is completely different and theres no gold standard. You just cant get spooked. Youre exactly right. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. 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. Anthemos Georgiades: Yeah. Anthemos Georgiades: Yeah. Two sided marketplaces are so difficult. It looks better for investors and it makes your life easier. 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. Georgiades founded Zumper after his own . Alejandro: Got it. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. 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. Not really actually. So Id say your first month you spend like getting first, second, third meeting. Got it. Anthemos Georgiades: Yeah. 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. They are brilliant about. 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. And then when I moved out to America, Russel was software engineer at Google and I had no technical background so I basically hit up my network for anyone with a technical background living in the US who might be interested in joining and Russel and I really hit it off and he was the perfect cofounder. I think if you set these expectations from the very beginning that are super important. I kind of looked through in Crunchbase which connections I have into which fund. How do you take a company with those tractions, 10 million in revenue. 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. 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. Yeah. Just enter your email below. Anthemos lives in San Francisco, where Zumper is HQd, with his wife. Yeah. But I will say the one thing is true is that you always raise on momentum. He remains a huge Tottenham Hotspur fan, and wakes up painfully every Saturday morning to tune into the live English soccer games. In the early days we love the exposure to Silicon Valley investors. 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. Alejandro: Got it. Anthemos Georgiades: Yeah. And investors love that story because its easy to believe that you can continue to do that. Its a good question. Your third month is getting kind of diligence done and getting the wires in to the door. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. In the early days, youre going to need to take all the capital you can get. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. All of it is going to be important and it will come out at the right stage. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. anthemos georgiades net worth. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. 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. So that was great. And were just a little earlier than obviously a public company so our gross is spikier. 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? Hello, everyone, to the DealMakers Show. 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. 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 a Greek name, British accent. So lets talk about Zumper here. So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. One is I wouldnt be too pressured about it too early. 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. So lets talk about Zumper here. He was with HBS 10 years ago. We both wanted to be entrepreneurs. 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. Anthemos was an undergrad at Oxford when he noticed how problematic renting an apartment . How many listings do we have on the site? At series A, you got to show product market set in a sub vertical. 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 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? There could be investors who are fantastic. 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. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. Alejandro: Got it. Absolutely. 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. So we tell the small landlords, Hey, dont just advertise in Zumper. 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. Got it. 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. Got it. So thats how Zumper got started. 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. Thank you so much. It was like $46 million. 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. 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. 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. Got it. Well, today's guest noticed that experience and wanted to improve it. Anthemos Georgiades: 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. Well, first of all, your point about quashing the egg and shooting the chicken. 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. 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. Meaning hey, we send you a ton of leads this month that close in to leases. Alejandro: Got it. Prior to his work at Zumper, Georgiades worked at the Boston . What are some tips for successfully navigating the rental market from a renter's perspective? So we bought them. 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. Over time, its great to be able to bring in your team. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. 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. 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. Over time, its great to be able to bring in your team. Published by at June 13, 2022. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. Alejandro: Alrightee. 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. How did you find these investors? Every company is completely different and theres no gold standard. So M&A are strategic [33:48]. Well, first of all, your point about quashing the egg and shooting the chicken. 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. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. 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? Now my cofounders were phenomenal in bringing them to meetings. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. 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. 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. 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. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Its hard. 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. I dont think theres a startup I could have launched that taught me more. And I mean its quite a few cofounders. It is not suppose to be easy. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. 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. This show is about storytelling and all the elements that go into telling the perfect fundraising story. 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? 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 have no experience doing that. 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. I mean I called it like a cheat [33:33] my team. 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. 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? Anthemos Georgiades: Its just part of the game and it doesnt [24:30]. And so I wouldnt be too pressured. So what is the best way, Anthemos, for people that are listening to reach out and say hi? It is not closely married to [14:55] and thats where its still on [14:58] I think Silicon Valley has a long way to go where when I got my first introductions to VCs to Kleiner, to Andreseen, to Graylock, to NEA, it often came through my graduate school network where someone was like, Hey, this guy is leaving HBS. I mean your job moves from doing jobs in the first few years. Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. I didnt think that either of them originally. Get Anthemos Georgiades's email address (a*****@zumper.com) and phone number (646398..) at RocketReach. 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. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. 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. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. Budget in my opinion perhaps should be allocated to something else. 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. No. 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 incredibly difficult. You just get to this kind of motion of you all feel the same and you kind of pull in the same direction. Anthemos Georgiades Current Workplace Zumper Location 555 Montgomery St Ste 1300, San Francisco, California, 94111, United States Industry Information Collection & Delivery, Media & Internet Description Discover more about Zumper Anthemos Georgiades Work Experience and Education Work Experience Manager, Summer Investment Atomico 2009-2010 But theres no right answer in business. 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 tell me your story a little bit here, Anthemos. Thank you so much. How much respect is there? 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. So thats how Zumper got started. Yeah. 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. 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? Anthemos Georgiades is the CEO and co-founder at Zumper.
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