So Im completely there with you. 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. 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? I think if you set these expectations from the very beginning that are super important. The reality is often in the early stages, youre going to want to take all the capital thats given to you and you may not have multiple term sheets. 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. 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. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Saying that, in the early days you kind of need to bring on all the capital that you can. comfortbilt pellet stove low temp alarm Got it. 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. Youre right that is wrong advice. It was not something Ive really ever thought about before. 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]. So I wouldnt be too picky early. In the early days we love the exposure to Silicon Valley investors. Im so glad I did 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. 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. 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]. Like many of our most successful entrepreneurs. But oh we must have had like 20 persons or 20 people say not now or later. So today, we have another founder and another one that is quite successful in their own paths. Were incredibly grateful for everything she did and she remains kind of shareholder in the company. 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. How flat is the company? 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. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. Retention is something I think about every day. anthemos georgiades net worth Alejandro: Got it. Alejandro: Got it. It has to be me and thats how I started the company six years ago after business school. How does the day to day at Zumper work? 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. They are brilliant about. But I will say the one thing is true is that you always raise on momentum. Thank you so much. But theres no right answer in business. Had worked in politics. Got it. If you want me to help you with your fundraising, just book a call. 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. 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]. 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. 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. Its a good question. Yeah. 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. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. Thats quite motivating for people. Dave Costantino Staff Engineer - Backend. Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. Anthemos Georgiades: Yeah. How many listings do we have on the site? 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. In terms of investors, I guess two comments. 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? Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. You just get to this kind of motion of you all feel the same and you kind of pull in the same direction. 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. Please subscribe to unlock this content. 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. So what is the best way, Anthemos, for people that are listening to reach out and say hi? And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. So it doesnt always work out and I think thats fine. And as you know as and your listeners know, youre going to get a lot of nos on the way. A lot of it was completely bottom up. Got it. glendale, az police activity today; archer lodge middle school calendar. We also actually had a really wonderful fourth cofounder whos no longer with us. 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. In the early days, youre going to need to take all the capital you can get. Anthemos Georgiades, Zumper Inc: Profile and Biography Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. For every successful fundraise, every single company have a lot of nos. Anthemos Georgiades - San Francisco Business Times Over time, its great to be able to bring in your team. 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. Got it. At scale you get to do that and have those teams. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. 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 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. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. Over time, its great to be able to bring in your team. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. 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. Of course and I agree with you there, Anthemos. 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. 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 the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. city of phoenix setback requirements So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. 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. Yeah, sure. So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. Yeah. Got it. It is ultimately the culture. Youre supposed to try six things that dont work. Anthemos Georgiades is the co-founder and CEO of Zumper. 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]. Alejandro: Got it. Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. Search icon - dusa.perfecttrailer.de 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. It was incredibly difficult. Saying that, in the early days you kind of need to bring on all the capital that you can. 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? Got it. Yeah. Get a custom action plan and all the help that you need to start raising more capital. 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. 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. He was with HBS 10 years ago. I kind of looked through in Crunchbase which connections I have into which fund. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. After that, it changed to more consumer. In terms of investors, I guess two comments. Anthemos Georgiades: No. Anthemos Georgiades: Yeah. Now my cofounders were phenomenal in bringing them to meetings. 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. Try for free at rocketreach.co Great question. @zumper Stories Uncategorized Got it. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. Anthemos Georgiades is CEO/Co-Founder at Zumper Inc. See Anthemos Georgiades's compensation, career history, education, & memberships. Anthemos Georgiades: Yeah. 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 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. The reality is often in the early stages, youre going to want to take all the capital thats given to you and you may not have multiple term sheets. 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 Id say your first month you spend like getting first, second, third meeting. Likewise. Yeah. 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. 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. Well, Anthemos, it has been a pleasure to have you on the show. Stay informed using all the free online rental data out there (like Zumper's national rent report). ! We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. Its hard. I grew up in London. 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. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. How many listings do we have on the site? I think at that stage it makes sense. It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. Really good strategy to differentiate the demographics and were super happy with how it went down. Anthemos Georgiades: Yeah. E1031 Zumper CEO Anthemos Georgiades on monetizing - YouTube I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. Rocketreach finds email, phone & social media for 450M+ professionals. 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 think Id say forget everything you think you know and everything, your education [38:28]. After that, it changed to more consumer. 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. Of course. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. Like what have you seen that really works? Yeah. Anthemos Georgiades: Yeah. Got it. 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. 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. 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. Keeping good lines of communication open can solve many landlord/tenant problems. Thats just part of the game. So it was never I want to be an entrepreneur journey. 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. 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 I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. Its a Greek name, British accent. 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. 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? 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. Ckg1 Ckp1 - Ckg1a63-100 One Lesson Led This Entrepreneur To Raise $90 Million From The - Forbes 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 it is the culture that keeps people here, not the compensation or anything else. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. Well, first of all, your point about quashing the egg and shooting the chicken. 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 is co-founder & CEO of Zumper, the largest startup in the rental industry. Anthemos Georgiades: Oh wow, good question. 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. I say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. For me, its Zumper, an apartment rental platform. 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. And investors love that story because its easy to believe that you can continue to do that. And frankly, the process is a pain in the ass. Anthemos Georgiades (Zumper) | Startup Grind One is I wouldnt be too pressured about it too early. So you know I think Axle Springer very used to appraising companies that match their scale. 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. Anthemos Georgiades email address & phone number - RocketReach It happened but I wouldnt say its like an obvious part. Categories . 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. Anthemos Georgiades: Yeah. Thats quite motivating for people. And the biggest change in the series C I just raised versus in the early days is having a CFO. 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. It was like $46 million. Got it. Anthemos Georgiades: Yeah. 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. Its not about the ski trips and any of that you know. 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. 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.