anthemos georgiades net worth
You start to build depth and management structures. 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? It was always a man, there is a really tough problem that consumers experience and no one is solving it. So I saw for example Axle Springer which is you know more kind of like the corporate. 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. Anthemos Georgiades On Building A Marketplace That Helps Millions of So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? Were growing very quickly but none of that was true obviously in the first two years. How flat is the company? 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. 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]. Alejandro: Got it. Every company is completely different and theres no gold standard. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles Get a custom action plan and all the help that you need to start raising more capital. 1. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. 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? It was like $46 million. With a diverse background that includes consulting for Boston Consulting Group and serving as Economic Advisor and speechwriter in the 2010 British Election, Anthemos founded Zumper in 2012 after his own terrible rental experience. So the series B, weve done story now look at how quickly the renters are growing on the platform. Youre exactly right. So you acquire not long ago Pat Mapper and how did this come together? Absolutely. 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. So thats how Zumper got started. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. Absolutely. Pat Mapper caters to 25 and under and kind of big college populations. It looks better for investors and it makes your life easier. The one unifying theme in every fundraising Ive run is momentum. So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. 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? ! Your third month is getting kind of diligence done and getting the wires in to the door. I have no experience doing that. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. 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 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. 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. what was the premier league called before; 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? And investors love that story because its easy to believe that you can continue to do that. 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? One Lesson Led This Entrepreneur To Raise $90 Million From The - Forbes Alejandro: Got it. 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. I say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. 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They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. Anthemos Georgiades - Co-Founder & CEO - Zumper | LinkedIn Well, first of all, your point about quashing the egg and shooting the chicken. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. 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. So I wouldnt be too picky early. I mean I called it like a cheat [33:33] my team. Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. 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. We love our investors. Anthemos Georgiades - Quora 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? Anthemos Georgiades: Yeah. How did you find these investors? Well, first of all, your point about quashing the egg and shooting the chicken. So you know I think Axle Springer very used to appraising companies that match their scale. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. 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. I met Russel who [04:01] engineering products through just the personal connections in London. 10 Things All Landlords Should Remember To Ensure Good Tenant - Forbes A lot of that is in the bank. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. 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? Over-Communication. Anthemos Georgiades: Yeah. 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. Your second month you spend getting term sheets and documents signed. So you acquire not long ago Pat Mapper and how did this come together? Anthemos Georgiades: Yeah, sure. E1031 Zumper CEO Anthemos Georgiades on monetizing - YouTube Anthemos Georgiades: Hey, thanks for having me. Member profile: Zumper's founders - Anthemos Georgiades and Russell Youre right that is wrong advice. The company was incorporated in California, Texas, and Florida ten years ago. 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. Alejandro: So I guess like I have one thing to follow up on this. 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. 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. 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? It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. I dont think theres a startup I could have launched that taught me more. 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. Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? I mean your job moves from doing jobs in the first few years. In terms of investors, I guess two comments. Thank you so much. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. 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. 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. Got it. Got it. Alejandro: 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. Anthemos Georgiades - San Francisco Business Times Alejandro: Of course and I agree with you there, Anthemos. But I will say the one thing is true is that you always raise on momentum. And so as you mature you look for a different kind of investor and that naturally tends to happen. After that, it changed to more consumer. Like many of our most successful entrepreneurs. And to be fair, some of these 20 did indeed come back later to invest but in Boston and I pitched all of the east coast investors first because I was on the east coast and they were straight nos. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. 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. 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? So we bought them. Try for free at rocketreach.co Search icon - dusa.perfecttrailer.de 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. So that was great. So in the first two years, Zumper is now [07:52] $90 million in capital. Fantastic. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. Anthemos Georgiades is the co-founder and CEO of Zumper. anthemos georgiades net worth. Not really actually. Youre right that is wrong advice. I think just up front boundaries before you close the round is super important. 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. Yeah. 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. I think if you set these expectations from the very beginning that are super important. At scale you get to do that and have those teams. So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. 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. Never thought Id be an entrepreneur. 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? I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. 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. All of it is going to be important and it will come out at the right stage. Got it. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. Got it and before we actually dive in to the journey here, so consulting and. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. 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 I as British person moving to Silicon Valley in 2012 I have never run a startup before. Hes raising money now. 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. 1. Anthemos Georgiades is the CEO and co-founder at Zumper. 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. Vishal Makhijani President & COO. So yes, we have a great cap table. For me, its Zumper, an apartment rental platform. Anthemos Georgiades: Yeah. 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. So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. All of it is going to be important and it will come out at the right stage. Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. We both wanted to be entrepreneurs. But I will say the one thing is true is that you always raise on momentum. In terms of investors, I guess two comments. So lets talk about Zumper here. Saying that, in the early days you kind of need to bring on all the capital that you can. 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. [06:54] the early days and it worked where there was just all hands to the pump. So I saw for example Axle Springer which is you know more kind of like the corporate. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. Absolutely. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. So yes, we have a great cap table. 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. Keeping good lines of communication open can solve many landlord/tenant problems. Anthemos Georgiades, Zumper, European Founder, International Founders, Marketplace The process of renting apartments hasn't changed since Craigslist was introduced. 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. Oh wow, good question. I didnt think that either of them originally. 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]. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. 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. 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. Your third month is getting kind of diligence done and getting the wires in to the door. June 12, 2022 . It is ultimately the culture. For every successful fundraise, every single company have a lot of nos. How many listings do we have on the site? So today, we have another founder and another one that is quite successful in their own paths. Of course and I agree with you there, Anthemos. 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. 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? How did you find these investors? I didnt think that either of them originally. I met Russel who [04:01] engineering products through just the personal connections in London. Likewise. glendale, az police activity today; archer lodge middle school calendar. 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. Shalin Amin Chief Experience Officer. So today, we have another founder and another one that is quite successful in their own paths. Of course. Anthemos Georgiades: Yeah. 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 the biggest change in the series C I just raised versus in the early days is having a CFO. 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. 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 youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. At college in the UK, Ive had like multiple [00:58] renting apartments. Alejandro: Got it. I mean I think at seed round its like an [26:02]. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. 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. So that was great. So it doesnt always work out and I think thats fine. Alejandro: Got it. 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. He has grown the Zumper team to 50 and counting and successfully completed the acquisition of apartment search platform PadMapper. And so I wouldnt be too pressured. And then now your job at five, six years in with a team of a hundred with higher and amazing executive team who are all better at doing their jobs than you would ever be and so your job is almost as a CEO is to like hire yourself out of a job where you hire people, where you look at them and you think, Wow, I cant believe you report to me. 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. Got it. 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]. 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. A lot of business schools was how to make decisions with imperfect information. Alejandro: So Im completely there with you. 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? 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. 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. Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. 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. Look how quickly our revenue are scaling. I think at that stage it makes sense. A lot of business schools was how to make decisions with imperfect information. anthemos georgiades net worth Anthemos Georgiades: Its just part of the game and it doesnt [24:30]. 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. We also actually had a really wonderful fourth cofounder whos no longer with us. Anthemos Georgiades: Yeah. Anthemos Georgiades is co-founder & CEO of Zumper, the largest startup in the rental industry. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. So for the business, Anthemos, how much capital have you guys raised today? Got it. 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? Got it. Anthemos Georgiades: Its part of the game. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. You are going to get a bunch of nos so I wouldnt rule people out too early. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. Dave Costantino Staff Engineer - Backend. Alejandro: Got it. So Id say your first month you spend like getting first, second, third meeting. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. Russell Middleton Co-Founder. You rarely have enough data to make the absolutely correct decision and I think a lot of businesses fail especially start ups when they dont make decisions fast enough and in business schools, the case study methods taught me how to feel confident in making decisions without perfect information and how to use data to kind of then review once youve launched, whether it was right or wrong. 1.4.1 - Provisions of this Code Declared . comfortbilt pellet stove low temp alarm And so I finally just gave in and thought no one is going to build this. It is ultimately the culture. This show is about storytelling and all the elements that go into telling the perfect fundraising story. 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. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. anthemos georgiades net worthperpetual futures binance. 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. In the early days, youre going to need to take all the capital you can get. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. In the early days, youre going to need to take all the capital you can get. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Two sided marketplaces are so difficult. Township Of Ocean Police Department. 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. 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. Yeah. 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]. At series A, you got to show product market set in a sub vertical. How do you take a company with those tractions, 10 million in revenue. 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? Two sided marketplaces are so difficult. Anthemos Georgiades: Yeah. 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. 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?
