How did you find these investors? So I saw for example Axle Springer which is you know more kind of like the corporate. It looks better for investors and it makes your life easier. But I will say the one thing is true is that you always raise on momentum. And [14:42] in Silicon Valley is married to [graphics 14:43] mostly in terms of great companies just break out and succeed [agnostic 14:48] as to where people went to college or if they came from a wealthy or poor family. Yeah, 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. I knew the CEO for a while. And it was just [22:11] during the process that its a startup, were at growth stage but not to expect to be able to predict our courses like that public company again. We saw it would take three to six months to integrate Pat Mapper and their backend that engineering project we worked really hard and quickly just over a year to integrate so we underestimated like how much work was required to integrate them by 3x. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. 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. But oh we must have had like 20 persons or 20 people say not now or later. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. 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. She was our original CPO and after the series A, she moved on to roller, another company and we promoted someone internally to CPO. Anthemos Georgiades | Multifamily Executive Magazine I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. It happened but I wouldnt say its like an obvious part. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. You are going to get a bunch of nos so I wouldnt rule people out too early. 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. Thats quite motivating for people. 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. Got it. How many landlords did we have on the site? Published by at June 13, 2022. Anthemos Georgiades: Its part of the game. 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? Of course. Were incredibly grateful for everything she did and she remains kind of shareholder in the company. Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. The one unifying theme in every fundraising Ive run is momentum. 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. 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. Anthemos Georgiades, Zumper Inc: Profile and Biography 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. Yeah. All of it is going to be important and it will come out at the right stage. 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. "These markets had a huge net migration from New York and California, and they have held up," he says. 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 Anthemos, whats the business model here? 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. How do you take a company with those tractions, 10 million in revenue. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. 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. Dave Costantino Staff Engineer - Backend. So the series B, weve done story now look at how quickly the renters are growing on the platform. I guess the question that I would ask you and perhaps some advice for some of those that are listening, that are building a business that is more around the network effects, the marketplaces, should they walk the other way if the investor is asking too much about revenue early on on the financing cycles? Thats just part of the game. 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. And investors love that story because its easy to believe that you can continue to do that. Alejandro: Got it. So seed, series A, series B, series C, I was always the point person in the fundraise. 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 Georgiades: Yeah. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. Zumper - Contacts, Employees, Board Members, Advisors & Alumni - Crunchbase A lot of that is in the bank. Anthemos Georgiades: Oh wow, good question. And were just a little earlier than obviously a public company so our gross is spikier. 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? Im the CEO and Ive always felt that it was my responsibility to do the fundraising. It was not something Ive really ever thought about before. There was no book [01:41]. Anthemos Georgiades - San Francisco Business Times 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. 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. Anthemos Georgiades: 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. Not really actually. Your job as the CEO and the founder is to convince your investors of the reason to do this. Every company is completely different and theres no gold standard. But I will say the one thing is true is that you always raise on momentum. True to its reputation, Comfortbilt's HP22 pellet stove comes with a heating capacity of 50,000 BTU. 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? So that was great. Thats your job. Get Anthemos Georgiades's email address (a*****@zumper.com) and phone number (646398..) at RocketReach. Were incredibly grateful for everything she did and she remains kind of shareholder in the company. Your second month you spend getting term sheets and documents signed. 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 we bought them. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. Youll get terms sheets and yeses hopefully quicker than that but this process takes a while and as the money increases and a few rounds become more complicated, it can take more than three months as well. Anthemos Georgiades - Previous President for Zumper, Inc. We saw it would take three to six months to integrate Pat Mapper and their backend that engineering project we worked really hard and quickly just over a year to integrate so we underestimated like how much work was required to integrate them by 3x. See How I Can Help You With Your Fundraising Efforts. Over time, its great to be able to bring in your team. I mean your job moves from doing jobs in the first few years. 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. Search icon - dusa.perfecttrailer.de In the early days, youre going to need to take all the capital you can get. Alejandro: Got it. 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. Anthemos Georgiades: One Lesson That Led To Raise $90 Million From The Top Venture Capital Firms by Alejandro Cremades Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. 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. 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. 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. Its just part of the game and it doesnt [24:30]. And so I wouldnt be too pressured. For me, its Zumper, an apartment rental platform. 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. We both wanted to be entrepreneurs. Of course. You start to build depth and management structures. 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. 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. Absolutely. Got it. So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. 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. So we tell the small landlords, Hey, dont just advertise in Zumper. I met Russel who [04:01] engineering products through just the personal connections in London. Anthemos was an undergrad at Oxford when he noticed how problematic renting an apartment . But theres no right answer in business. glendale, az police activity today; archer lodge middle school calendar. 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. Anthemos Georgiades: Yeah. 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. How do you take a company with those tractions, 10 million in revenue. I really enjoyed it and great stuff. 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. 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]. anthemos georgiades net worthperpetual futures binance. Alejandro: Got it. How did you find these investors? Two sided marketplaces are so difficult. Anthemos lives in San Francisco, where Zumper is HQd, with his wife. Anthemos Georgiades: Yeah. 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. 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. So today, we have another founder and another one that is quite successful in their own paths. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. So all good companies have multiple offers on the table. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. 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. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. Anthemos Georgiades: Yeah. 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? How flat is the company? Had worked in politics. Yeah. So what is the best way, Anthemos, for people that are listening to reach out and say hi? Its hard. 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. 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? And the biggest change in the series C I just raised versus in the early days is having a CFO. 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. 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. 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 Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. Anthemos Georgiades Email & Phone Number - Zumper | ZoomInfo Anthemos Georgiades is CEO/Co-Founder at Zumper Inc. See Anthemos Georgiades's compensation, career history, education, & memberships. Over-Communication. Whats your story and most importantly, how did you get started with the entrepreneurial bug? So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. 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. Got it. Yeah. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. Yeah. 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. At scale you get to do that and have those teams. 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. How to tell a story worth $140 million dollars - Funded Podcast Kankakee Daily Journal Obituaries Today, Orchard Title Of Texas 3201 Dallas Parkway, Putnam County Jail Mugshots, Articles A
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