Anthemos Georgiades. It is ultimately the culture. 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. In the early days we love the exposure to Silicon Valley investors. Thats just part of the game. Alejandro: Got it. 1. Member profile: Zumper's founders - Anthemos Georgiades and Russell Yeah. Georgiades founded Zumper after his own . She was our original CPO and after the series A, she moved on to roller, another company and we promoted someone internally to CPO. Thats quite motivating for people. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. So I think three months is an efficient round. And investors love that story because its easy to believe that you can continue to do that. Got it. 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. It is not suppose to be easy. How do you scale like 20 million in revenue to 200 million in revenue and we didnt need the more product set investors because we already have fantastic people at that. How flat is the company? Were growing very quickly but none of that was true obviously in the first two years. I kind of looked through in Crunchbase which connections I have into which fund. You just cant get spooked. Thats your job. [06:54] the early days and it worked where there was just all hands to the pump. "While many markets cool off during the winter, Miami is still posting month-over-month increases. We both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. Your job as the CEO and the founder is to convince your investors of the reason to do this. Got it. Yeah. They are brilliant about. 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. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. I grew up in London. So today, we have another founder and another one that is quite successful in their own paths. Youre right that is wrong advice. 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. Got it. I have no experience doing that. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. 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. Its a Greek name, British accent. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. Two sided marketplaces are so difficult. Its a Greek name, British accent. But theres no right answer in business. Anthemos Georgiades: Yeah. So lets talk about Zumper here. Anthemos Georgiades: Yeah. 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. 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. . Budget in my opinion perhaps should be allocated to something else. Yeah. Got it. We both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. How much respect is there? So that was great. Alejandro: Got it. 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. I knew the CEO for a while. 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. Anthemos lives in San Francisco, where Zumper is HQd, with his wife. So M&A are strategic [33:48]. Alejandro: Got it. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. What's in Store for Multifamily Markets in 2023? They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. Had worked at the Boston Consulting Group. Anthemos Georgiades: Yeah. Terms & Conditions! Anthemos Georgiades: Yeah. I think at that stage it makes sense. Yeah. Never thought Id be an entrepreneur. So how did you meet your cofounders? Anthemos Georgiades On Building A Marketplace That Helps Millions of So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. For me, its Zumper, an apartment rental platform. hendrick motorsports hats; anthemos georgiades net worth 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. 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. So in the first two years, Zumper is now [07:52] $90 million in capital. Got it. And so as you mature you look for a different kind of investor and that naturally tends to happen. He's raised $39.2 million in venture capital, grown the team to 70+, and completed the acquisition of apartment search platform PadMapper. 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? 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. How does the day to day at Zumper work? Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. 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. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. So I saw for example Axle Springer which is you know more kind of like the corporate. 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 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. Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. Alejandro: Alrightee. Anthemos Georgiades: No. All of it is going to be important and it will come out at the right stage. Anthemos Georgiades: Its part of the game. So we tell the small landlords, Hey, dont just advertise in Zumper. Got it. Township Of Ocean Police Department. So I wouldnt be too picky early. So M&A are strategic [33:48]. So all good companies have multiple offers on the table. And frankly, the process is a pain in the ass. 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. Got it. So tell me your story a little bit here, Anthemos. Anthemos Paul Georgiades has been associated with one company, according to public records. 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. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles How autonomous can people be at the junior levels? Now my cofounders were phenomenal in bringing them to meetings. I was just talking to a friend of mine about this. Your job is to raise capital and your job is to kind of hire and retain the best talents. 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. Now my cofounders were phenomenal in bringing them to meetings. 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. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. 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? 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. I didnt think that either of them originally. 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. 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. So it was never I want to be an entrepreneur journey. Youre exactly right. 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 say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. You can filter down by city and . Its not about the ski trips and any of that you know. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. Thats quite motivating for people. I mean I think at seed round its like an [26:02]. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. Yeah. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. Never thought Id be an entrepreneur. Categories . The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? Great question. 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. Think Masterclass for Management. 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 as you know as and your listeners know, youre going to get a lot of nos on the way. 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. 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. Hes raising money now. 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. Its not about the ski trips and any of that you know. 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 think its easy not to set those expectations and get caught in the relationship where neither side is being clear on what they expect. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. Its a good question. I think if you set these expectations from the very beginning that are super important. It was incredibly difficult. 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. One is I wouldnt be too pressured about it too early. 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. We also actually had a really wonderful fourth cofounder whos no longer with us. So you acquire not long ago Pat Mapper and how did this come together? Anthemos Georgiades - Previous President for Zumper, Inc. 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. Anthemos Georgiades - Quora 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. Well help you prequalify renters and actually get the renter in to a lease, signing the documents, paying the first month deposit but well charge you a percentage of the lease fairly. Got it. Your job as the CEO and the founder is to convince your investors of the reason to do this. It was incredibly difficult. 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? 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. The company was incorporated in California, Texas, and Florida ten years ago. Alejandro: Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? 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. Got it. Shalin Amin Chief Experience Officer. 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. Got it. Had worked at the Boston Consulting Group. Anthemos Georgiades: Yeah. 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. Zumper Board Member Related Hubs 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. Anthemos Georgiades: Yeah. 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. Not really actually. It was always a man, there is a really tough problem that consumers experience and no one is solving it. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. So it was never I want to be an entrepreneur journey. 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. 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. It seemed crazy that the real estate industry wasnt moving towards on demand. E1031 Zumper CEO Anthemos Georgiades on monetizing - YouTube Absolutely. So yes, we have a great cap table. 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. 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. 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. Alejandro: Got it. 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. Were growing very quickly but none of that was true obviously in the first two years. 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? How Zumper founder created software to solve the pain of apartment It happened but I wouldnt say its like an obvious part. The one unifying theme in every fundraising Ive run is momentum. 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. So we tell the small landlords, Hey, dont just advertise in Zumper. 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. I'm so proud of my wife Lucy Georgiades and her cofounder Lindsey Nehls on launching their business Elevate Academy today. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. 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. So we bought them. It looks better for investors and it makes your life easier. 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 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. 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. Its hard. Got it. I didnt think that either of them originally. 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. 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. 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. 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. Likewise. Alejandro: Got it. His passion for relieving the stress for others in . Whats your story and most importantly, how did you get started with the entrepreneurial bug? Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. 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? And as you know as and your listeners know, youre going to get a lot of nos on the way. Got it. And in terms of preparation, Anthemos, how has the preparation like preparing before going to market to start engaging investors, how have you seen with your business, with Zumper, how have you seen that changed over time as the rounds were maturing? Thank you so much. Anthemos Georgiades on LinkedIn: Elevate Academy | Elevate Leadership Not really actually. 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. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. 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. 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]. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. 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. 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. For Zumper's Georgiades, many Florida markets, such as Fort Lauderdale, Miami, Orlando, and Tampa, have been the big pandemic winners. Likewise. 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. 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. Anthemos Georgiades: Yeah. Alejandro: Got it. Zumper CEO & Co-Founder Anthemos Georgiades makes renting an apartment as easy as booking a hotel, shares insights on monetizing marketplaces, diversifying r. "These markets had a huge net migration from New York and California, and they have held up," he says. Had worked in politics. 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. Meaning hey, we send you a ton of leads this month that close in to leases. So I saw for example Axle Springer which is you know more kind of like the corporate. 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. Anthemos Georgiades - San Francisco Business Times And I mean its quite a few cofounders. Alejandro: 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? Absolutely. 2023: The Road Ahead for Multifamily Operators anthemos georgiades net worth Vishal Makhijani President & COO. Of course and I agree with you there, Anthemos. I think Id say forget everything you think you know and everything, your education [38:28]. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. 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. Alejandro: Got it. 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. Got it. Anthemos Georgiades - Co-Founder & CEO - Zumper | LinkedIn 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.
Dkny Bench Seat, Print On Demand Mesh Shorts, Workday Southeastern Freight Lines, Articles A