Gson Compare Two Json Objects, Official Catholic Directory Archives, Jean "foxy" Reynard, 4th Judicial District Attorney Monroe, La, Erin Popovich Funeral, Articles A

I grew up in London. 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. I was just talking to a friend of mine about this. 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. So seed, series A, series B, series C, I was always the point person in the fundraise. So in the first two years, Zumper is now [07:52] $90 million in capital. So seed, series A, series B, series C, I was always the point person in the fundraise. 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. Alejandro: Got it. Now my cofounders were phenomenal in bringing them to meetings. Got it. 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. 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. Got it. I think just up front boundaries before you close the round is super important. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. Your job as the CEO and the founder is to convince your investors of the reason to do this. If you want me to help you with your fundraising, just book a call. 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? I think at that stage it makes sense. Anthemos Georgiades: Yeah. Taylor Glass-Moore Co-Founder. 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 its easy not to set those expectations and get caught in the relationship where neither side is being clear on what they expect. Whats your story and most importantly, how did you get started with the entrepreneurial bug? 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. Your third month is getting kind of diligence done and getting the wires in to the door. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles hendrick motorsports hats; anthemos georgiades net worth Its hard. 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. For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. In the early days we love the exposure to Silicon Valley investors. 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 flat is the company? 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. So I wouldnt be too picky early. Because I speak with a ton of founders that are perhaps opening up the possibility of bringing on corporations and I think that you need to really do it right. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. Alejandro: Got it. So all good companies have multiple offers on the table. So that was great. 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. How many landlords did we have on the site? 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? Yeah. So we bought them. At the end of the day though, whether its senior people, junior people, interns who we want to bring back is all under pinned by culture. There could be investors who are fantastic. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. And so I wouldnt be too pressured. Fantastic. 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. Got it. At series A, you got to show product market set in a sub vertical. Alejandro: Got it. 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. 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. I have no experience doing that. Its a good question. How much respect is there? Your third month is getting kind of diligence done and getting the wires in to the door. I met Russel who [04:01] engineering products through just the personal connections in London. Thats just part of the game. A lot of business schools was how to make decisions with imperfect information. Alejandro: Fantastic. 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. So that was great. Alejandro: Of course. 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. 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. But oh we must have had like 20 persons or 20 people say not now or later. 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. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. 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. I have no experience doing that. 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. 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. So what is the best way, Anthemos, for people that are listening to reach out and say hi? So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. 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? So M&A are strategic [33:48]. So I saw for example Axle Springer which is you know more kind of like the corporate. We love our investors. There could be investors who are fantastic. 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. Just enter your email below. Of course. Anthemos Georgiades CEO and co-founder. So Im completely there with you. Zumper Board Member Related Hubs Were growing very quickly but none of that was true obviously in the first two years. How flat is the company? I think if you set these expectations from the very beginning that are super important. Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. Based in San Francisco, Anth leads the company in its mission to make renting an apartment as easy as booking a hotel. It was like $46 million. Its a Greek name, British accent. It seemed crazy that the real estate industry wasnt moving towards on demand. It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. You start to build depth and management structures. Great question. At scale you get to do that and have those teams. 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? 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. Got it. 1. 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. Youre right that is wrong advice. Got it. glendale, az police activity today; archer lodge middle school calendar. Terms & Conditions! ! Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. And then my other cofounder Kurt Taylor I met through his mother who was an [04:43] and it was another example of just pure hustle. In terms of investors, I guess two comments. So you acquire not long ago Pat Mapper and how did this come together? Got it. Your job is to raise capital and your job is to kind of hire and retain the best talents. 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? Alejandro: Got it. So thats how Zumper got started. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. Get a custom action plan and all the help that you need to start raising more capital. Alejandro: Got it. So for the business, Anthemos, how much capital have you guys raised today? Yeah. We didnt go that route because I have the network but if I didnt have the network and some people have the network and still do it, they are really good cheap in to getting scaled quickly. Yeah. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. And so I finally just gave in and thought no one is going to build this. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. So all good companies have multiple offers on the table. 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. I was just talking to a friend of mine about this. One is I wouldnt be too pressured about it too early. 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. Anthemos Georgiades: So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. 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. Dave Costantino Staff Engineer - Backend. And were just a little earlier than obviously a public company so our gross is spikier. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Two sided marketplaces are so difficult. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. Anthemos Georgiades: Yeah. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. Well, Anthemos, it has been a pleasure to have you on the show. what was the premier league called before; It was always a man, there is a really tough problem that consumers experience and no one is solving it. Anthemos Georgiades: Yeah. Its hard. [06:54] the early days and it worked where there was just all hands to the pump. Alejandro: Got it. Get Anthemos Georgiades's email address (a*****@zumper.com) and phone number (646398..) at RocketReach. 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. I mean I called it like a cheat [33:33] my team. And I mean its quite a few cofounders. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. Youre supposed to try six things that dont work. 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 Anthemos, whats the business model here? 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. So yes, we have a great cap table. 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. So I think three months is an efficient round. Well, Anthemos, it has been a pleasure to have you on the show. Got it. Alrightee. 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. They take every, some people go and warm theirif you have a brilliant idea, theyd be crazy not to take it and then their entire value is obviously give you a three month program and then at the end expose you to liek 40 investors. Your job as the CEO and the founder is to convince your investors of the reason to do this. So the series B, weve done story now look at how quickly the renters are growing on the platform. 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? The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? I think Id say forget everything you think you know and everything, your education [38:28]. I knew the CEO for a while. Its just part of the game and it doesnt [24:30]. A lot of that is in the bank. 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. So the series B, weve done story now look at how quickly the renters are growing on the platform. Got 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. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. So M&A are strategic [33:48]. At the end of the day though, whether its senior people, junior people, interns who we want to bring back is all under pinned by culture. 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. Anthemos Georgiades: No. Thank you so much. If you want me to do your fundraising for you, click here. 1.4.1 - Provisions of this Code Declared . I say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. 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. So Id say your first month you spend like getting first, second, third meeting. 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. Hes raising money now. 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? I mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. 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 the majority of that is still in the bank but yeah, we raised money in capital [12:00]. How autonomous can people be at the junior levels? 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. 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. And as you know as and your listeners know, youre going to get a lot of nos on the way. Got it. Got it. 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. This show is about storytelling and all the elements that go into telling the perfect fundraising story. 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? 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. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. Your second month you spend getting term sheets and documents signed. Got it. I didnt think that either of them originally. Look how quickly our revenue are scaling. 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. Rocketreach finds email, phone & social media for 450M+ professionals. 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. We didnt go that route because I have the network but if I didnt have the network and some people have the network and still do it, they are really good cheap in to getting scaled quickly. He was with HBS 10 years ago. 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 then as we looked at the C round, Axle Springer are fantastic good example [19:59]. 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. 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. 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. Alejandro: Got it. 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. Youre supposed to try six things that dont work. 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. So you know I think Axle Springer very used to appraising companies that match their scale. At college in the UK, Ive had like multiple [00:58] renting apartments. 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? For every successful fundraise, every single company have a lot of nos. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? 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. FUNDED EP01: How to tell a story worth $140 million dollars (Zumper) 00:00 51:07 Episode Summary Anthemos Georgiades, founder of Zumper, perfected his pitch the way most founders do: through trial and error.