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How autonomous can people be at the junior levels? Rocketreach finds email, phone & social media for 450M+ professionals. 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 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. How many listings do we have on the site? Were growing very quickly but none of that was true obviously in the first two years. Anthemos Georgiades: Yeah. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. Were incredibly grateful for everything she did and she remains kind of shareholder in the company. Anthemos Georgiades is the CEO and co-founder at Zumper. 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 I grew up in London. Alejandro: Got it. Anthemos Georgiades: So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. Never thought Id be an entrepreneur. Absolutely. Yeah. And it is the culture that keeps people here, not the compensation or anything else. 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. And so I finally just gave in and thought no one is going to build this. Of course. It seemed crazy that the real estate industry wasnt moving towards on demand. So how did you meet your cofounders? Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. 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. Got it. 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. Zumper Board Member Related Hubs 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. June 12, 2022 . ! At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. 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. 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. We both wanted to be entrepreneurs. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. So we bought them. It is ultimately the culture. 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. Your second month you spend getting term sheets and documents signed. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. Thank you so much. All photos courtesy of Forbes Councils members. 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. 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. Alejandro: Got it. Just enter your email below. Stay informed using all the free online rental data out there (like Zumper's national rent report). I love it. So I saw for example Axle Springer which is you know more kind of like the corporate. I didnt think that either of them originally. 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. It happened but I wouldnt say its like an obvious part. Every company is completely different and theres no gold standard. Terms & Conditions! Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. How much respect is there? The one unifying theme in every fundraising Ive run is momentum. 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. 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]. We love our investors. Absolutely. 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. I was just talking to a friend of mine about this. So seed, series A, series B, series C, I was always the point person in the fundraise. Hello, everyone, to the DealMakers Show. I dont think theres a startup I could have launched that taught me more. 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. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. He has grown the Zumper team to 50 and counting and successfully completed the acquisition of apartment search platform PadMapper. So today, we have another founder and another one that is quite successful in their own paths. We also actually had a really wonderful fourth cofounder whos no longer with us. anthemos georgiades net worthperpetual futures binance. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. I met Russel who [04:01] engineering products through just the personal connections in London. How many landlords did we have on the site? Pat Mapper caters to 25 and under and kind of big college populations. Youre exactly right. Youre right that is wrong advice. Alejandro: Fantastic. And I mean its quite a few cofounders. 1.4.1 - Provisions of this Code Declared . Got it. Never thought Id be an entrepreneur. Yeah. Got it. I think Id say forget everything you think you know and everything, your education [38:28]. You are going to get a bunch of nos so I wouldnt rule people out too early. We also actually had a really wonderful fourth cofounder whos no longer with us. So the series B, weve done story now look at how quickly the renters are growing on the platform. 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. Anthemos Georgiades: Yeah. 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. Great question. glendale, az police activity today; archer lodge middle school calendar. 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. If you want me to do your fundraising for you, click here. 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? 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. 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. Got it. Tanguy Le Louarn Chief Product Officer. 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. There could be investors who are fantastic. They are brilliant about. Thank you so much. Its just part of the game and it doesnt [24:30]. Thats just part of the game. Pat Mapper caters to 25 and under and kind of big college populations. And it is the culture that keeps people here, not the compensation or anything else. How many listings do we have on the site? So for the business, Anthemos, how much capital have you guys raised today? I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Anthemos lives in San Francisco, where Zumper is HQd, with his wife. 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. 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 know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Yeah. 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 really enjoyed it and great stuff. 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. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? Got 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. anthemos georgiades net worth. They are brilliant about. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? Well, first of all, your point about quashing the egg and shooting the chicken. 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. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. I mean I think at seed round its like an [26:02]. So Anthemos, whats the business model here? Its not about the ski trips and any of that you know. At scale you get to do that and have those teams. Over-Communication. Of course. A lot of it was completely bottom up. And so as you mature you look for a different kind of investor and that naturally tends to happen. 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. How does the day to day at Zumper work? How did you find these investors? It has to be me and thats how I started the company six years ago after business school. They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. Whats your story and most importantly, how did you get started with the entrepreneurial bug? 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? 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? 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. 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. Like what have you seen that really works? [06:54] the early days and it worked where there was just all hands to the pump. 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. So M&A are strategic [33:48]. [06:54] the early days and it worked where there was just all hands to the pump. I think Id say forget everything you think you know and everything, your education [38:28]. At college in the UK, Ive had like multiple [00:58] renting apartments. Back to Meet the San Francisco Business Times' 40 under 40 Class of 2018. 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. But theres no right answer in business. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. 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. It just really helps to divide and conquer like that while I was meeting new investors again. Got it. And even though that sounds so obvious six years later, people just werent doing this in 2011, 2012 and we created a bunch of data that overwhelming shows the renters wanted to be applying for apartments from their phone. 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. 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. 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. One is I wouldnt be too pressured about it too early. Anthemos Paul Georgiades has been associated with one company, according to public records. You know its interesting that you mentioned the chicken and the egg. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. I knew the CEO for a while. 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. But oh we must have had like 20 persons or 20 people say not now or later. It is ultimately the culture. So I think three months is an efficient round. 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. 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. 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. 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. It was not something Ive really ever thought about before. 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? Prices can change quickly! I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. 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. It was like $46 million. August 4, 2020. At series A, you got to show product market set in a sub vertical. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. I didnt think that either of them originally. Got it. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. 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. Your job is to raise capital and your job is to kind of hire and retain the best talents. 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? Dave Costantino Staff Engineer - Backend. 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. Now my cofounders were phenomenal in bringing them to meetings. 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. Its a good question. We love our investors. I met Russel who [04:01] engineering products through just the personal connections in London. In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. 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? 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. Got it. Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. Anthemos was an undergrad at Oxford when he noticed how problematic renting an apartment . 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? Anthemos Georgiades: Yeah. Likewise. Anthemos Georgiades: Yeah. 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. 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. In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. In the early days we love the exposure to Silicon Valley investors. Township Of Ocean Police Department. 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. In terms of investors, I guess two comments. 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. Retention is something I think about every day. 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. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. 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. Alejandro: 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? So that was great. "While many markets cool off during the winter, Miami is still posting month-over-month increases. I kind of looked through in Crunchbase which connections I have into which fund. 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. Your third month is getting kind of diligence done and getting the wires in to the door. Alejandro: Got it. 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. 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 I called it like a cheat [33:33] my team. We both wanted to be entrepreneurs. 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 guess like I have one thing to follow up on this. I'm so proud of my wife Lucy Georgiades and her cofounder Lindsey Nehls on launching their business Elevate Academy today. 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. Over time, its great to be able to bring in your team. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. There was no book [01:41]. And so back to your point, yes, we want investors who are supportive of the fact that we didnt try to monetize the platform for the first three years because it would have created a barrier to entry. 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. 1. So M&A are strategic [33:48]. Alejandro: Got it. Published by at June 13, 2022. Got it. Had worked at the Boston Consulting Group. You are going to get a bunch of nos so I wouldnt rule people out too early. 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. Anthemos Georgiades. It happened but I wouldnt say its like an obvious part. 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. I think if you set these expectations from the very beginning that are super important. It was incredibly difficult. 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? Culture is everything and so investing in people making sure I as the CEO spend a lot of time as much as possible with people who dont report to me is absolutely critical and that is ultimately like the fabric on how most companies are run. Got it. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. Got it. 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. So seed, series A, series B, series C, I was always the point person in the fundraise. It is not suppose to be easy. You start to build depth and management structures. And investors love that story because its easy to believe that you can continue to do that. Alejandro: Alrightee. Thats just part of the game. You just cant get spooked. 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. Its a Greek name, British accent. So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. So how did you meet your cofounders? Yeah. Not really actually. Alejandro: Of course. Anthemos Georgiades is CEO/Co-Founder at Zumper Inc. See Anthemos Georgiades's compensation, career history, education, & memberships. 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. A lot of business schools was how to make decisions with imperfect information. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. So I think three months is an efficient round. Anthemos Georgiades, Zumper, European Founder, International Founders, Marketplace The process of renting apartments hasn't changed since Craigslist was introduced. At college in the UK, Ive had like multiple [00:58] renting apartments. 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. Thats your job. So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. Two sided marketplaces are so difficult. 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. Im so glad I did it. 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? Got it. Got it. Well, Anthemos, it has been a pleasure to have you on the show. 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. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. 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.