And as you know as and your listeners know, youre going to get a lot of nos on the way. There could be investors who are fantastic. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. I dont think theres a startup I could have launched that taught me more. 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. Terms & Conditions! 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? And so as you mature you look for a different kind of investor and that naturally tends to happen. And investors love that story because its easy to believe that you can continue to do that. Anthemos Georgiades email address & phone number - RocketReach Anthemos Georgiades on Twitter: "77% of you were interested in a So how did you meet your cofounders? At series A, you got to show product market set in a sub vertical. The company was incorporated in California, Texas, and Florida ten years ago. Like many of our most successful entrepreneurs. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. Youre exactly right. Thats quite motivating for people. 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]. She was our original CPO and after the series A, she moved on to roller, another company and we promoted someone internally to CPO. 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. And were they like obviously now youre opening here the cap table to a different breed and I guess when that happen probably at a strategic level lets say from a board perspective or something you know, maybe you receive some type of recommendations whether it was with this corporation or with other corporations as to what perhaps to look for and what to avoid. Absolutely. Now my cofounders were phenomenal in bringing them to meetings. So in the first two years, Zumper is now [07:52] $90 million in capital. Its a good question. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. 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. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. Anthemos Georgiades On Building A Marketplace That Helps Millions of In the early days, youre going to need to take all the capital you can get. We love our investors. 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. 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. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. Anthemos Georgiades: Yeah. What's in Store for Multifamily Markets in 2023? Anthemos Georgiades CEO at Zumper United States 4K followers 500+ connections Join to view profile Zumper Harvard Business School Websites Websites Company Website http://www.zumper.com Company. Two sided marketplaces are so difficult. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. And I mean its quite a few cofounders. 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. Im so glad I did it. 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. 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. Of course and I agree with you there, Anthemos. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. I think Id say forget everything you think you know and everything, your education [38:28]. Now my cofounders were phenomenal in bringing them to meetings. 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. So for the business, Anthemos, how much capital have you guys raised today? Of course. It was like $46 million. 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. Alejandro: Got it. city of phoenix setback requirements Because I speak with a ton of founders that are perhaps opening up the possibility of bringing on corporations and I think that you need to really do it right. Over-Communication. Youre exactly right. So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. 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? 1. If you want me to help you with your fundraising, just book a call. 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. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. We both wanted to be entrepreneurs. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Alejandro: Got it. 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. Yeah. 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. So we tell the small landlords, Hey, dont just advertise in Zumper. Anthemos Georgiades: Yeah. 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. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. Yeah, sure. Township Of Ocean Police Department. You are going to get a bunch of nos so I wouldnt rule people out too early. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. 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 mean your job moves from doing jobs in the first few years. A lot of it was completely bottom up. Hes raising money now. 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. [06:54] the early days and it worked where there was just all hands to the pump. [06:54] the early days and it worked where there was just all hands to the pump. Its a Greek name, British accent. 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. And it is the culture that keeps people here, not the compensation or anything else. 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. Youre right that is wrong advice. They are brilliant about. Your job as the CEO and the founder is to convince your investors of the reason to do this. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. I grew up in London. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. 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Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. 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? For me, its Zumper, an apartment rental platform. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. anthemos georgiades net worth Thank you so much. 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. Try for free at rocketreach.co August 4, 2020. 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; glendale, az setback requirements. So thats how Zumper got started. Yeah. Rental listing startup with more than 26 million users. See How I Can Help You With Your Fundraising Efforts. So I think three months is an efficient round. So seed, series A, series B, series C, I was always the point person in the fundraise. So the series B, weve done story now look at how quickly the renters are growing on the platform. The one unifying theme in every fundraising Ive run is momentum. 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. Just enter your email below. 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 both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. At scale you get to do that and have those teams. 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. Look how quickly our revenue are scaling. Anthemos Georgiades: Yeah. 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 - Previous President for Zumper, Inc. I met Russel who [04:01] engineering products through just the personal connections in London. I mean I called it like a cheat [33:33] my team. 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. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. 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 didnt think that either of them originally. 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. The other large investor in this round [20:05] scale so once you have product market set, how do you scale 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. Yeah. 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. 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. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. I mean your job moves from doing jobs in the first few years. 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. 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. 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. Anthemos Georgiades: Yes, weve raised $90 million in capital including a series C that we just closed three months ago. 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. Got it. At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. Alejandro: Alrightee. 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. 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. How autonomous can people be at the junior levels? Im the CEO and Ive always felt that it was my responsibility to do the fundraising. Anthemos Georgiades (Zumper) | Startup Grind hendrick motorsports hats; anthemos georgiades net worth . We also actually had a really wonderful fourth cofounder whos no longer with us. Hello, everyone, to the DealMakers Show. 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. 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 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. Categories . glendale, az police activity today; archer lodge middle school calendar. 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. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. But I will say the one thing is true is that you always raise on momentum. Alejandro: Got it. 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. And so I wouldnt be too pressured. You just cant get spooked. Anthemos Georgiades is CEO/Co-Founder at Zumper Inc. See Anthemos Georgiades's compensation, career history, education, & memberships. They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. So yes, we have a great cap table. Were growing very quickly but none of that was true obviously in the first two years. Got it. Its not about the ski trips and any of that you know. You know its interesting that you mentioned the chicken and the egg. All of it is going to be important and it will come out at the right stage. For me, its Zumper, an apartment rental platform. Got it. We love our investors. Anthemos Georgiades: Yeah, sure. 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. We both wanted to be entrepreneurs. 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? It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. 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 grew up in London. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. Great question. Zumper Board Member Related Hubs Published by at June 13, 2022. It seemed crazy that the real estate industry wasnt moving towards on demand. It was like $46 million. Stay informed using all the free online rental data out there (like Zumper's national rent report). I didnt think that either of them originally. Its hard. Saying that, in the early days you kind of need to bring on all the capital that you can. 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. How does the day to day at Zumper work? So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. 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. Well, Anthemos, it has been a pleasure to have you on the show. So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. Got it. In the early days we love the exposure to Silicon Valley investors. 1. Alejandro: Got it. So it was never I want to be an entrepreneur journey. Not really actually. So we tell the small landlords, Hey, dont just advertise in Zumper. Never thought Id be an entrepreneur. How flat is the company? Anthemos Georgiades: Yeah. 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? 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. 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. Whats your story and most importantly, how did you get started with the entrepreneurial bug? Unluckily weve made some phenomenal early hires so the company that have all scaled to leadership roles, thats fantastic for retention because those people know that we could have hired from outside but we bet on them and it worked and so Zumper is a place to build theyre career not somewhere else. FUNDED EP01: How to tell a story worth $140 million dollars (Zumper) 00:00 51:07 Episode Summary Anthemos Georgiades, founder of Zumper, perfected his pitch the way most founders do: through trial and error. 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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