And so I wouldnt be too pressured. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. Anthemos Georgiades: Yeah. 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. Well, first of all, your point about quashing the egg and shooting the chicken. Oh wow, good question. You look at your cofounders and you know that they understand that and that theyre not freaking out, that is where you build real institutional culture and then you try and grow that across the team. Got it. Well, Anthemos, it has been a pleasure to have you on the show. Rocketreach finds email, phone & social media for 450M+ professionals. She was our original CPO and after the series A, she moved on to roller, another company and we promoted someone internally to CPO. Budget in my opinion perhaps should be allocated to something else. Anthemos Paul Georgiades has been associated with one company, according to public records. The company was incorporated in California, Texas, and Florida ten years ago. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. Pat Mapper caters to 25 and under and kind of big college populations. Now my cofounders were phenomenal in bringing them to meetings. Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. So I guess how did that consulting experience shape up your approach in terms of like tackling problems and the entrepreneurial journey itself? Anthemos Georgiades: Its part of the game. 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. 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. So the series B, weve done story now look at how quickly the renters are growing on the platform. 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. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. Its really built in the dark days of when stuff is really difficult and I think Zumpers culture now is we have a lot of users still remembers and its a testament to those dark days and we never take anything for granted. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. See How I Can Help You With Your Fundraising Efforts. 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. 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 I mean its quite a few cofounders. His passion for relieving the stress for others in . 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. Youre supposed to try six things that dont work. Additionally, Anthemos Georgiades has had 2 past jobs including Consultant at The Boston Consulting Group. Theres never like an exact number you need like when Uber raised money or you know Zillow raised money, theres never like a number they have to be at. 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. "While many markets cool off during the winter, Miami is still posting month-over-month increases. Two sided marketplaces are so difficult. Had worked in politics. Anthemos Georgiades: Yeah. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. 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. How much respect is there? We also actually had a really wonderful fourth cofounder whos no longer with us. Got it. He's raised $39.2 million in venture capital, grown the team to 70+, and completed the acquisition of apartment search platform PadMapper. 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. Anthemos Georgiades. Weve only been working with Axle Springer for four months now but they are fantastic. Really good strategy to differentiate the demographics and were super happy with how it went down. 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? glendale, az police activity today; archer lodge middle school calendar. 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. Anthemos Georgiades: No. Likewise. And the biggest change in the series C I just raised versus in the early days is having a CFO. Alejandro: Got it. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. 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. So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. Its not about the ski trips and any of that you know. 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. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. 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. But theres no right answer in business. 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. Anthemos Georgiades - Co-Founder & CEO - Zumper | LinkedIn 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. Saying that, in the early days you kind of need to bring on all the capital that you can. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. I really enjoyed it and great stuff. 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]. 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 I wouldnt be too picky early. 1. If you guys are Zumper website, you can kind of kind at zumper.com the Contact Us or on Twitter I am just @anthemos, A-N-T-H-E-M-O-S on Twitter and yeah, I respond to people. Like what have you seen that really works? Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. And so I finally just gave in and thought no one is going to build this. So we bought them. Get 5 free searches. We also actually had a really wonderful fourth cofounder whos no longer with us. Were growing very quickly but none of that was true obviously in the first two years. Of course. A lot of it was completely bottom up. 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. How flat is the company? It is ultimately the culture. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. Anthemos Georgiades: One Lesson That Led To Raise $90 Million From The 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. 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. Back to Meet the San Francisco Business Times' 40 under 40 Class of 2018. I have no experience doing that. Got it. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. 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. I think if you set these expectations from the very beginning that are super important. So we bought them. 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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]. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. You start to build depth and management structures. 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. 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 so I wouldnt be too pressured. How did you find these investors? In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. Like many of our most successful entrepreneurs. Yeah. I met Russel who [04:01] engineering products through just the personal connections in London. 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. Alejandro: Got it. Got it.
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