anthemos georgiades net worth

Your email address is 100% safe from spam! And so I wouldnt be too pressured. Anthemos Georgiades: Yeah. How does the day to day at Zumper work? Alejandro: Got it. Its not about the ski trips and any of that you know. Yeah. Of course and I agree with you there, Anthemos. 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. Alejandro: Got it. For every successful fundraise, every single company have a lot of nos. We both wanted to be entrepreneurs. I grew up in London. So Anthemos, whats the business model here? 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. I knew the CEO for a while. 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. Try for free at rocketreach.co 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. This show is about storytelling and all the elements that go into telling the perfect fundraising story. Rental listing startup with more than 26 million users. So thats how Zumper got started. 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. Absolutely. Dave Costantino Staff Engineer - Backend. They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. 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. 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. In terms of investors, I guess two comments. So in the first two years, Zumper is now [07:52] $90 million in capital. Youre right that is wrong advice. 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. Shalin Amin Chief Experience Officer. 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. 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? Two sided marketplaces are so difficult. 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. 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. Yeah. No. 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. Thats quite motivating for people. 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. For me, its Zumper, an apartment rental platform. 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. "While many markets cool off during the winter, Miami is still posting month-over-month increases. So lets talk about Zumper here. I say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. You shameless have to mine your network and I think all CEOs and entrepreneurs have to find that edge of how did they meet one of these investors, how did they meet someone that knows them. Youre exactly right. 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. Well, first of all, your point about quashing the egg and shooting the chicken. So thats how Zumper got started. Your job is to raise capital and your job is to kind of hire and retain the best talents. Anthemos Georgiades, Zumper, European Founder, International Founders, Marketplace The process of renting apartments hasn't changed since Craigslist was introduced. So I saw for example Axle Springer which is you know more kind of like the corporate. Hes raising money now. A lot of business schools was how to make decisions with imperfect information. In the early days we love the exposure to Silicon Valley investors. Anthemos Georgiades: Yeah, sure. 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? 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. And so as you mature you look for a different kind of investor and that naturally tends to happen. Your third month is getting kind of diligence done and getting the wires in to the door. Its hard. 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. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. So you know I think Axle Springer very used to appraising companies that match their scale. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. 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. 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]. Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. And we were talking about the $46 million round which was the C round, C as in cat and basically what you were talking about I mean what Ive seen is that you guys have shifted a little bit the strategy. Great question. 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. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? 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. It was incredibly difficult. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. 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. 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. 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. 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. Well, first of all, your point about quashing the egg and shooting the chicken. what was the premier league called before; We also actually had a really wonderful fourth cofounder whos no longer with us. I grew up in London. Got it. Got it. 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. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. 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. Anthemos Georgiades: Yeah. Like many of our most successful entrepreneurs. Its a Greek name, British accent. It was not something Ive really ever thought about before. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. 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. How autonomous can people be at the junior levels? The reality is often in the early stages, youre going to want to take all the capital thats given to you and you may not have multiple term sheets. So seed, series A, series B, series C, I was always the point person in the fundraise. Really good strategy to differentiate the demographics and were super happy with how it went down. 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. 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? I mean your job moves from doing jobs in the first few years. Anthemos Georgiades: Yes, weve raised $90 million in capital including a series C that we just closed three months ago. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. 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. Got it. Anthemos Georgiades is CEO/Co-Founder at Zumper Inc. See Anthemos Georgiades's compensation, career history, education, & memberships. 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? And so I finally just gave in and thought no one is going to build this. Whats your story and most importantly, how did you get started with the entrepreneurial bug? 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. 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. Anthemos was an undergrad at Oxford when he noticed how problematic renting an apartment . The reality is often in the early stages, youre going to want to take all the capital thats given to you and you may not have multiple term sheets. 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? 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. Youre supposed to try six things that dont work. Look how quickly our revenue are scaling. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. How many landlords did we have on the site? Absolutely. It seemed crazy that the real estate industry wasnt moving towards on demand. Yeah. So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. Yeah. I didnt think that either of them originally. anthemos georgiades net worth. And so I finally just gave in and thought no one is going to build this. 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. Alejandro: Got it. So M&A are strategic [33:48]. He has grown the Zumper team to 50 and counting and successfully completed the acquisition of apartment search platform PadMapper. Ill set the first couple of meetings often alone but its been wonderful as weve grown our executive team to be able to bring like our VP of sales, our head of grow, our CPO in to the meetings afterwards when they want to meet the team. Theyre struggling to kind of grow their audience because they didnt have enough listings whereas Zumper at the getgo we had a lot of unique landlords on the platform that no one else had. And were just a little earlier than obviously a public company so our gross is spikier. Anthemos Georgiades: Hey, thanks for having me. Alejandro: Got it. Really good strategy to differentiate the demographics and were super happy with how it went down. 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 flat is the company? Alejandro: Got it. Thats your job. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? You know its interesting that you mentioned the chicken and the egg. Yeah. So tell me your story a little bit here, Anthemos. 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: Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? How does the day to day at Zumper work? 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. Every fantastic company has had hundreds of nos on the way to kind of huge outcomes and you just cant take it personally. Alejandro: Alrightee. 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. Great question. Got it. Got it. Had worked in politics. Youre supposed to try six things that dont work. Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. 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. There could be investors who are fantastic. 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? Additionally, Anthemos Georgiades has had 2 past jobs including Consultant at The Boston Consulting Group. And I mean its quite a few cofounders. 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 the biggest change in the series C I just raised versus in the early days is having a CFO. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. Im so glad I did it. He remains a huge Tottenham Hotspur fan, and wakes up painfully every Saturday morning to tune into the live English soccer games. 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. Anthemos Georgiades: Yeah. So you acquire not long ago Pat Mapper and how did this come together? He was with HBS 10 years ago. Anthemos Georgiades: Yeah. 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. 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?

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