Zumper CEO & Co-Founder Anthemos Georgiades makes renting an apartment as easy as booking a hotel, shares insights on monetizing marketplaces, diversifying r. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. I grew up in London. It was like $46 million. It was incredibly difficult. 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]. Got it. Thank you so much. There was no book [01:41]. 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. anthemos georgiades net worth Got it. Like what have you seen that really works? 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. At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. Got it. Yeah, sure. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. 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. 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? ! 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. I think if you set these expectations from the very beginning that are super important. We also actually had a really wonderful fourth cofounder whos no longer with us. 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? Absolutely. 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? 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. The company was incorporated in California, Texas, and Florida ten years ago. Yeah. Anthemos Georgiades: Yes, weve raised $90 million in capital including a series C that we just closed three months ago. Well, first of all, your point about quashing the egg and shooting the chicken. Anthemos Paul Georgiades has been associated with one company, according to public records. So the series B, weve done story now look at how quickly the renters are growing on the 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. We love our investors. So Anthemos, whats the business model here? Weve only been working with Axle Springer for four months now but they are fantastic. Thats quite motivating for people. 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. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. All of it is going to be important and it will come out at the right stage. I knew the CEO for a while. For me, its Zumper, an apartment rental platform. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. At college in the UK, Ive had like multiple [00:58] renting apartments. I think Id say forget everything you think you know and everything, your education [38:28]. 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. After that, it changed to more consumer. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. 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. 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. Thats just part of the game. 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. For Zumper's Georgiades, many Florida markets, such as Fort Lauderdale, Miami, Orlando, and Tampa, have been the big pandemic winners. 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. Got it. Anthemos Georgiades: Yeah. Your second month you spend getting term sheets and documents signed. And it is the culture that keeps people here, not the compensation or anything else. He was with HBS 10 years ago. Got it. 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? 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. Thats your job. 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? 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. How to tell a story worth $140 million dollars - Funded Podcast So that was great. 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. Prior to his work at Zumper, Georgiades worked at the Boston . But I will say the one thing is true is that you always raise on momentum. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. I was just talking to a friend of mine about this. 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. 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. 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. 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. Alejandro: Got it. And as you know as and your listeners know, youre going to get a lot of nos on the way. Alejandro: Got it. Anthemos Georgiades - Co-Founder & CEO - Zumper | LinkedIn 1.4.1 - Provisions of this Code Declared . Terms & Conditions! The one unifying theme in every fundraising Ive run is momentum. 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. 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: Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. Budget in my opinion perhaps should be allocated to something else. comfortbilt pellet stove low temp alarm Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. Anthemos Georgiades, Zumper Inc: Profile and Biography I was just talking to a friend of mine about this. 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. I think its easy not to set those expectations and get caught in the relationship where neither side is being clear on what they expect. One Lesson Led This Entrepreneur To Raise $90 Million From The - Forbes Alejandro: And did you diversify this responsibility with the other cofounders or was there one of you guys that has always been leading the chart on the financing side? Pat Mapper caters to 25 and under and kind of big college populations. I mean I called it like a cheat [33:33] my team. Rental listing startup with more than 26 million users. We love our investors. Anthemos Georgiades: Yeah. So tell me your story a little bit here, Anthemos. Got it. 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. How do you take a company with those tractions, 10 million in revenue. For every successful fundraise, every single company have a lot of nos. Whats your story and most importantly, how did you get started with the entrepreneurial bug? The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? Prices can change quickly! 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. 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. In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. Anthemos Georgiades: Yeah. His passion for relieving the stress for others in . 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. So I think three months is an efficient round. 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. A lot of business schools was how to make decisions with imperfect information. Anthemos Georgiades: Yeah. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. 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. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. With a diverse background that includes consulting for Boston Consulting Group and serving as Economic Advisor and speechwriter in the 2010 British Election, Anthemos founded Zumper in 2012 after his own terrible rental experience. 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. 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 dont think theres a startup I could have launched that taught me more. 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. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. 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. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Yeah. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. Got it. 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 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. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. E1031 Zumper CEO Anthemos Georgiades on monetizing - YouTube 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. June 12, 2022 . So it was never I want to be an entrepreneur journey. And investors love that story because its easy to believe that you can continue to do that. The one unifying theme in every fundraising Ive run is momentum. 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. So all good companies have multiple offers on the table. In the early days we love the exposure to Silicon Valley investors. Likewise. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. I think its easy not to set those expectations and get caught in the relationship where neither side is being clear on what they expect. Anthemos Georgiades is the co-founder and CEO of Zumper. Anthemos Georgiades email address & phone number - RocketReach It was like $46 million. 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. I dont think theres a startup I could have launched that taught me more. Stay informed using all the free online rental data out there (like Zumper's national rent report). 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. Yeah. Please subscribe to unlock this content. I kind of looked through in Crunchbase which connections I have into which fund. So I think three months is an efficient round. Keeping good lines of communication open can solve many landlord/tenant problems. So thats how Zumper got started. Anthemos Georgiades: Yeah. He discovered that the marketplace doesnt work for renters, and the idea for Zumper was born with the goal of evening the playing field and increasing transparency in the marketplace. 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. Rocketreach finds email, phone & social media for 450M+ professionals. 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. 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.
Munger Place Church Lgbtq, Colorado Executor Fees, Trabajos De Limpieza Cash, Articles A