At college in the UK, Ive had like multiple [00:58] renting apartments. I think at that stage it makes sense. Your job is to raise capital and your job is to kind of hire and retain the best talents. Its not about the ski trips and any of that you know. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. Alejandro: Got it. 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. 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. Got it. Had worked in politics. Like what have you seen that really works? Got it and before we actually dive in to the journey here, so consulting and. Anthemos Georgiades: Yeah. 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. Got it. In the early days, youre going to need to take all the capital you can get. So I guess for a marketplace or lets say for the people that are listening to us like what kind of metrics do you think for the most part if were talking about hyper growth companies, like they should be a little bit more mindful about? You start to build depth and management structures. No. So yes, we have a great cap table. Your email address is 100% safe from spam! Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. And the biggest change in the series C I just raised versus in the early days is having a CFO. Anthemos Georgiades: Yeah. 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. Anthemos Paul Georgiades has been associated with one company, according to public records. And so I wouldnt be too pressured. 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. 1.4.1 - Provisions of this Code Declared . June 12, 2022 . Alejandro: Got it. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. Alejandro: Got it. Alejandro: Got it and before we actually dive in to the journey here, so consulting and business school, this is a few things that I typically hear so from some of our other guests. 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? So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. Additionally, Anthemos Georgiades has had 2 past jobs including Consultant at The Boston Consulting Group. I was just talking to a friend of mine about this. Were growing very quickly but none of that was true obviously in the first two years. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. 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. So you acquire not long ago Pat Mapper and how did this come together? Great question. Thats your job. Think Masterclass for Management. It is ultimately the culture. Of course. So thats how Zumper got started. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. 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. 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 saw for example Axle Springer which is you know more kind of like the corporate. I met Russel who [04:01] engineering products through just the personal connections in London. Absolutely. So seed, series A, series B, series C, I was always the point person in the fundraise. Alejandro: So I guess like I have one thing to follow up on this. And I mean its quite a few cofounders. Terms & Conditions! So tell me your story a little bit here, Anthemos. There could be investors who are fantastic. I mean at the end of the day, building and scaling companies especially when youre at the early stages is all about survival and its all about learning to be with each other behind the trenches and really going to war and having each others backs. I mean I think at seed round its like an [26:02]. I kind of looked through in Crunchbase which connections I have into which fund. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Vishal Makhijani President & COO. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. Alejandro: Got it. 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 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. 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. 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. 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 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? 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. 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. I mean I called it like a cheat [33:33] my team. 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. 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. We love our investors. Its not about the ski trips and any of that you know. Alejandro: Got it. 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. How does the day to day at Zumper work? So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? 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. How did you find these investors? A lot of business schools was how to make decisions with imperfect information. If you want me to do your fundraising for you, click here. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. 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. Anthemos Georgiades is co-founder & CEO of Zumper, the largest startup in the rental industry. Anthemos Georgiades: Yeah. 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? Published by at June 13, 2022. Yeah. anthemos georgiades net worth How autonomous can people be at the junior levels? Based in San Francisco, Anth leads the company in its mission to make renting an apartment as easy as booking a hotel. 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. So lets talk about Zumper here. Had worked at the Boston Consulting Group. 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. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. what was the premier league called before; I really enjoyed it and great stuff. His passion for relieving the stress for others in apartment rentals has given birth to a venture which has now raised $90 million, has experienced tremendous growth, and boasts a VC line up of some of the most prized investors in Silicon Valley. Your second month you spend getting term sheets and documents signed. Anthemos Georgiades on LinkedIn: Elevate Academy | Elevate Leadership Great question. 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. And the biggest change in the series C I just raised versus in the early days is having a CFO. So I think as your company matures, you look for investors that have something that you dont have and so for us, were not yet doing $100 million in revenue. Anthemos Georgiades: Yeah. Really good strategy to differentiate the demographics and were super happy with how it went down. 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. Yeah. 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?
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