Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. 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. 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? 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. Oh wow, good question. Likewise. Had worked at the Boston Consulting Group. Yeah. 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? And investors love that story because its easy to believe that you can continue to do that. So you acquire not long ago Pat Mapper and how did this come together? 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. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. It is ultimately the culture. Anthemos Georgiades: Yeah. Stay informed using all the free online rental data out there (like Zumper's national rent report). Youre right that is wrong advice. Your job is to raise capital and your job is to kind of hire and retain the best talents. He remains a huge Tottenham Hotspur fan, and wakes up painfully every Saturday morning to tune into the live English soccer games. 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. We also actually had a really wonderful fourth cofounder whos no longer with us. We both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. Like what have you seen that really works? Alejandro: Got it. And so I finally just gave in and thought no one is going to build this. Got it. 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. You know its interesting that you mentioned the chicken and the egg. Pat Mapper caters to 25 and under and kind of big college populations. 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. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. Over-Communication. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. 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. Now my cofounders were phenomenal in bringing them to meetings. How much respect is there? So I guess like I have one thing to follow up on this. 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? Likewise. 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? So we bought them. I mean I think at seed round its like an [26:02]. Look how quickly our revenue are scaling. Were growing very quickly but none of that was true obviously in the first two years. 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 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. ! Two sided marketplaces are so difficult. Anthemos Georgiades: Yeah. You can set the expectations and then see what happens and if its not a good fit upfront, you can go with the different option on the table. 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. 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. 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; glendale, az setback requirements. It happened but I wouldnt say its like an obvious part. Thats your job. 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 so I wouldnt be too pressured. Hes raising money now. Were incredibly grateful for everything she did and she remains kind of shareholder in the company. So yes, we have a great cap table. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. How autonomous can people be at the junior levels? Alejandro: Got it. Im so glad I did it. Alejandro: Got it. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. I dont think theres a startup I could have launched that taught me more. 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. 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? Its a Greek name, British accent. 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? 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. 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 many landlords did we have on the site? Yeah. So when you go in to a fundraising in terms of preparation the most important thing is that your last six months are great and your most important metrics are all growing really nicely so kind of five, six months in a row that is a fantastic story to tell to an investor. Anthemos Georgiades is the co-founder and CEO of Zumper. Alejandro: Got it. 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. 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 Georgiades is the CEO and co-founder at Zumper. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. Got it. 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. 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. 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. It is not suppose to be easy. Got it. And were just a little earlier than obviously a public company so our gross is spikier. Alejandro: So Im completely there with you. Its not about the ski trips and any of that you know. Prior to his work at Zumper, Georgiades worked at the Boston . How much respect is there? I didnt think that either of them originally. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. Alrightee. I think just up front boundaries before you close the round is super important. I really enjoyed it and great stuff. 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. Yeah, sure. Got it. So in the first two years, Zumper is now [07:52] $90 million in capital. 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. They are brilliant about. Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. Got it. Taylor Glass-Moore Co-Founder. So it doesnt always work out and I think thats fine. I mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. But I guess you were saying then here the shift, kind of like shifted more from like growth of users perhaps retention to more kind of like deep revenue growth. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. Over time, its great to be able to bring in your team. Got it. Rental listing startup with more than 26 million users. 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. 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 Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. Well, Anthemos, it has been a pleasure to have you on the show. Alejandro: Got it. So today, we have another founder and another one that is quite successful in their own paths. 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. 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. Now my cofounders were phenomenal in bringing them to meetings. So that was great. Weve only been working with Axle Springer for four months now but they are fantastic. Like many of our most successful entrepreneurs. 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. So in the first two years, Zumper is now [07:52] $90 million in capital. For me, its Zumper, an apartment rental platform. 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. Got it. Anthemos Georgiades is the co-founder and CEO of Zumper. And the biggest change in the series C I just raised versus in the early days is having a CFO. And I mean its quite a few cofounders. I met Russel who [04:01] engineering products through just the personal connections in London. Got it. It was not something Ive really ever thought about before. Youre exactly right. 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. So Anthemos, whats the business model here? They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. 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. 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. Anthemos Georgiades Current Workplace Zumper Location 555 Montgomery St Ste 1300, San Francisco, California, 94111, United States Industry Information Collection & Delivery, Media & Internet Description Discover more about Zumper Anthemos Georgiades Work Experience and Education Work Experience Manager, Summer Investment Atomico 2009-2010 Alejandro: Got it. Never thought Id be an entrepreneur. And so I wouldnt be too pressured. Thats quite motivating for people. 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]. 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. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. 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. Got it. So you know I think Axle Springer very used to appraising companies that match their scale. Thats just part of the game. There was no book [01:41]. 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? The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? 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. But theres no right answer in business. 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. I say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. At scale you get to do that and have those teams. And as you know as and your listeners know, youre going to get a lot of nos on the way. At series A, you got to show product market set in a sub vertical.