Got it. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. Anthemos Georgiades: Yeah. But oh we must have had like 20 persons or 20 people say not now or later. It is not suppose to be easy. There was no book [01:41]. Retention is something I think about every day. Tanguy Le Louarn Chief Product Officer. 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? It has to be me and thats how I started the company six years ago after business school. It just really helps to divide and conquer like that while I was meeting new investors again. You just get to this kind of motion of you all feel the same and you kind of pull in the same direction. 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 that was great. Anthemos Georgiades, Zumper, European Founder, International Founders, Marketplace The process of renting apartments hasn't changed since Craigslist was introduced. And the biggest change in the series C I just raised versus in the early days is having a CFO. So I think three months is an efficient round. Every fantastic company has had hundreds of nos on the way to kind of huge outcomes and you just cant take it personally. How does the day to day at Zumper work? So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. And investors love that story because its easy to believe that you can continue to do that. All photos courtesy of Forbes Councils members. Like what have you seen that really works? 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. 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. 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. Fantastic. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. Oh yeah, on the seed round back in 2012, we had probably five investors come in to the seed round so we kind of had five yeses who put in small checks. Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. It has to be me and thats how I started the company six years ago after business school. 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. Not really actually. 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? Your job as the CEO and the founder is to convince your investors of the reason to do this. 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. 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. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? 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. 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. So today, we have another founder and another one that is quite successful in their own paths. She was our original CPO and after the series A, she moved on to roller, another company and we promoted someone internally to CPO. 1.4.1 - Provisions of this Code Declared . 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. So Anthemos, whats the business model here? So what is the best way, Anthemos, for people that are listening to reach out and say hi? Look how quickly our revenue are scaling. Anthemos Georgiades: Yeah. Its not about the ski trips and any of that you know. 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. Anthemos Georgiades: Yeah, sure. Anthemos Georgiades: Yeah. Alejandro: Got it. 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? Yeah. 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? Its a Greek name, British accent. We also actually had a really wonderful fourth cofounder whos no longer with us. I kind of looked through in Crunchbase which connections I have into which fund. Yeah. There was no book [01:41]. Pat Mapper caters to 25 and under and kind of big college populations. 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. One is I wouldnt be too pressured about it too early. And so as you mature you look for a different kind of investor and that naturally tends to happen. Thank you so much. 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 - CEO and co-founder - Crunchbase 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. Hes raising money now. 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. Had worked in politics. I mean I called it like a cheat [33:33] my team. How to tell a story worth $140 million dollars - Funded Podcast Its just part of the game and it doesnt [24:30]. Yes, weve raised $90 million in capital including a series C that we just closed three months ago. 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. 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. I think Id say forget everything you think you know and everything, your education [38:28]. Anthemos Georgiades on Twitter: "77% of you were interested in a They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. Alejandro: Got it. 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. Alejandro: Fantastic. Got it. Alejandro: Got it. 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. 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. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. Anthemos Georgiades: Yeah. 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]. 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. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. How did you find these investors? Got it. 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 how did you meet your cofounders? anthemos georgiades net worth Yeah. Got it. Anthemos Georgiades | Multifamily Executive Magazine And it is the culture that keeps people here, not the compensation or anything else. I think at that stage it makes sense. 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. If you want me to do your fundraising for you, click here. June 12, 2022 . Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. I mean I think at seed round its like an [26:02]. 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? He had actually interviewed me for a job at a different consulting firm and we stayed in touch. 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. Two sided marketplaces are so difficult. Well, first of all, your point about quashing the egg and shooting the chicken. For every successful fundraise, every single company have a lot of nos. Prior to his work at Zumper, Georgiades worked at the Boston . Anthemos Georgiades is the co-founder and CEO of Zumper. 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 like $46 million. Weve only been working with Axle Springer for four months now but they are fantastic. You just cant get spooked. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. 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. True to its reputation, Comfortbilt's HP22 pellet stove comes with a heating capacity of 50,000 BTU. anthemos georgiades net worth. They wanted to close apartments like they book a hotel and so took the status of like 35 different apartments we leased using the technology in San Francisco to VCs and said, Hey, were really going to rebuild all of this but heres some data that shows this really can work at scale, and thats how we raised the first million dollars from some of the names that you mentioned. Shalin Amin Chief Experience Officer. So that was great. 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. A lot of it was completely bottom up. 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. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. A lot of that is in the bank. 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. I have no experience doing that. So the series B, weve done story now look at how quickly the renters are growing on the platform. Got it. So for the business, Anthemos, how much capital have you guys raised today? It happened but I wouldnt say its like an obvious part. 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. glendale, az police activity today; archer lodge middle school calendar. Your job is to raise capital and your job is to kind of hire and retain the best talents. I think just up front boundaries before you close the round is super important. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. 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. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. What are some tips for successfully navigating the rental market from a renter's perspective? In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. Think Masterclass for Management. 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. 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. 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 wouldnt be too picky early. Anthemos Georgiades (Zumper) | Startup Grind 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. I didnt think that either of them originally. Yeah. Anthemos Georgiades: Yeah. Your third month is getting kind of diligence done and getting the wires in to the door. You just get to this kind of motion of you all feel the same and you kind of pull in the same direction. Taylor Glass-Moore Co-Founder. I mean your job moves from doing jobs in the first few years. How many landlords did we have on the site? So I guess like I have one thing to follow up on this. So for the business, Anthemos, how much capital have you guys raised today? 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]. Youre exactly right. Anthemos Georgiades Email & Phone Number - Zumper | ZoomInfo Im so glad I did it. Yeah. 1. Anthemos Georgiades: One Lesson That Led To Raise $90 Million From The 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. Got 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. 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. Yeah. For Zumper's Georgiades, many Florida markets, such as Fort Lauderdale, Miami, Orlando, and Tampa, have been the big pandemic winners. I was just talking to a friend of mine about this. Youre supposed to try six things that dont work. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? So what is the best way, Anthemos, for people that are listening to reach out and say hi? 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. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. Anthemos Georgiades email address & phone number - RocketReach Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. 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. Got it. We also actually had a really wonderful fourth cofounder whos no longer with us. "While many markets cool off during the winter, Miami is still posting month-over-month increases. Yeah. Youre right that is wrong advice. 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.
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