We love our investors. It just really helps to divide and conquer like that while I was meeting new investors again. 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. 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. 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. Well, Anthemos, it has been a pleasure to have you on the show. 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. 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. And as you know as and your listeners know, youre going to get a lot of nos on the way. 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. 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 mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. 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. Its a good question. Alejandro: Alrightee. 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. So I wouldnt be too picky early. 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. Got it. We also actually had a really wonderful fourth cofounder whos no longer with us. Please subscribe to unlock this content. Anthemos Georgiades: Yeah. Anthemos lives in San Francisco, where Zumper is HQd, with his wife. 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. Were growing very quickly but none of that was true obviously in the first two years. So it was never I want to be an entrepreneur journey. 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. Meaning hey, we send you a ton of leads this month that close in to leases. Got it. Youre exactly right. Every fantastic company has had hundreds of nos on the way to kind of huge outcomes and you just cant take it personally. 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. Get Anthemos Georgiades's email address (a*****@zumper.com) and phone number (646398..) at RocketReach. The one unifying theme in every fundraising Ive run is momentum. I really enjoyed it and great stuff. 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? Anthemos Georgiades: Hey, thanks for having me. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. He's raised $39.2 million in venture capital, grown the team to 70+, and completed the acquisition of apartment search platform PadMapper. 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. Got it. And investors love that story because its easy to believe that you can continue to do that. @zumper Stories Uncategorized So we bought them. And I mean its quite a few cofounders. Dave Costantino Staff Engineer - Backend. But I will say the one thing is true is that you always raise on momentum. It seemed crazy that the real estate industry wasnt moving towards on demand. Youre right that is wrong advice. 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? I knew the CEO for a while. Anthemos Georgiades is CEO/Co-Founder at Zumper Inc. See Anthemos Georgiades's compensation, career history, education, & memberships. And it is the culture that keeps people here, not the compensation or anything else. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. But oh we must have had like 20 persons or 20 people say not now or later. 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? Got it. Yeah. 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 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. Russell Middleton Co-Founder. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. 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. Anthemos Georgiades: Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. Got it. It was incredibly difficult. I have no experience doing that. Hes raising money now. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. Anthemos Georgiades: Yeah. Yeah. 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. So we bought them. So I guess like I have one thing to follow up on this. Im so glad I did it. Anthemos Paul Georgiades has been associated with one company, according to public records. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. 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. Like many of our most successful entrepreneurs. 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. 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. 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. This pellet stove is a good heating solution for a smaller rather than a . I mean I think at seed round its like an [26:02]. So if the story has changed in a way that merits the focus of the company but what is consistent every single time weve raised is that for six months in a row, we had really, really quick growth. Like what have you seen that really works? At college in the UK, Ive had like multiple [00:58] renting apartments. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. Weve only been working with Axle Springer for four months now but they are fantastic. I think Id say forget everything you think you know and everything, your education [38:28]. 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. Im so glad I did it. 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. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. Pat Mapper caters to 25 and under and kind of big college populations. 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. Really good strategy to differentiate the demographics and were super happy with how it went down. It was like $46 million. After that, it changed to more consumer. Got it. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Anthemos Georgiades: Yeah. 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. You start to build depth and management structures. It was not something Ive really ever thought about before. No. I love 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. Zumper CEO and co-founder May 2012 Board and Advisor Roles Number of Current Board & Advisor Roles 1 Anthemos Georgiades is the Board Member at Zumper. 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? 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? Likewise. 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. Your second month you spend getting term sheets and documents signed. In the early days, youre going to need to take all the capital you can get. 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. 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. It was like $46 million. At scale you get to do that and have those teams. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles 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. How autonomous can people be at the junior levels? 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. Now my cofounders were phenomenal in bringing them to meetings. So M&A are strategic [33:48]. Thats just part of the game. 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]. 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. 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. And I mean its quite a few cofounders. 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. 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 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? So you acquire not long ago Pat Mapper and how did this come together? Got it and before we actually dive in to the journey here, so consulting and. I met Russel who [04:01] engineering products through just the personal connections in London. Anthemos Georgiades: Yeah. It seemed crazy that the real estate industry wasnt moving towards on demand. Anthemos Georgiades is the co-founder and CEO of Zumper. And frankly, the process is a pain in the ass. 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. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. So we tell the small landlords, Hey, dont just advertise in Zumper. So you acquire not long ago Pat Mapper and how did this come together? 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. Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. Great question. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. Got it. 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 many landlords did we have on the site? But theres no right answer in business. So that was great. 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. 1. How much respect is there? 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? Alejandro: I love it. 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? 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. It was incredibly difficult. And as you know as and your listeners know, youre going to get a lot of nos on the way. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. Hes raising money now. I think just up front boundaries before you close the round is super important. Your job as the CEO and the founder is to convince your investors of the reason to do this. I think if you set these expectations from the very beginning that are super important. So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. How do you take a company with those tractions, 10 million in revenue. Anthemos Georgiades: 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. Yes, weve raised $90 million in capital including a series C that we just closed three months ago. Alejandro: 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. 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. Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. anthemos georgiades net worth. 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. 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. 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. Alejandro: Got it. Youre supposed to try six things that dont work. 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 not something Ive really ever thought about before. 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.

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