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Not really actually. 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. 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. So we tell the small landlords, Hey, dont just advertise in Zumper. Alejandro: Got it. Vishal Makhijani President & COO. Got it. A lot of business schools was how to make decisions with imperfect information. Anthemos Georgiades: Yeah. 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. So I saw for example Axle Springer which is you know more kind of like the corporate. How does the day to day at Zumper work? Anthemos Georgiades: Yeah. Not really actually. 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. 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. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. One is I wouldnt be too pressured about it too early. 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? 10 Things All Landlords Should Remember To Ensure Good Tenant - Forbes Anthemos Georgiades: Yeah. So I think three months is an efficient round. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. 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. city of phoenix setback requirements Yeah. 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. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles Were growing very quickly but none of that was true obviously in the first two years. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. It was always a man, there is a really tough problem that consumers experience and no one is solving it. Yeah. Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. Got it. 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. One Lesson Led This Entrepreneur To Raise $90 Million From The - Forbes Great question. In many instances, really acquisitions are great to either feel growth on the company itself, either on the product or perhaps by adding a great talent, but unfortunately many M&A transactions fail really on the integration side of things. All of it is going to be important and it will come out at the right stage. I kind of looked through in Crunchbase which connections I have into which fund. So we tell the small landlords, Hey, dont just advertise in Zumper. It has to be me and thats how I started the company six years ago after business school. How flat is the company? 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. 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. He was with HBS 10 years ago. So I guess like I have one thing to follow up on this. And it is the culture that keeps people here, not the compensation or anything else. He has grown the Zumper team to 50 and counting and successfully completed the acquisition of apartment search platform PadMapper. 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? Your email address is 100% safe from spam! Yeah. Yeah. 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? Likewise. The one unifying theme in every fundraising Ive run is momentum. 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. Look how quickly our revenue are scaling. Youre exactly right. rex harrison audrey hepburn relationship. 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. Categories . 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. anthemos georgiades net worth Alejandro: Got it. 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. A lot of business schools was how to make decisions with imperfect information. Stay informed using all the free online rental data out there (like Zumper's national rent report). So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. Alejandro: Got it. 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. There could be investors who are fantastic. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. 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. Yeah. A lot of that is in the bank. 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? Oh wow, good question. For every successful fundraise, every single company have a lot of nos. Anthemos Paul Georgiades has been associated with one company, according to public records. 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. Thats just part of the game. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. Anthemos Georgiades: Yeah. Based in San Francisco, Anth leads the company in its mission to make renting an apartment as easy as booking a hotel. anthemos georgiades net worth Weve only been working with Axle Springer for four months now but they are fantastic. Meaning hey, we send you a ton of leads this month that close in to leases. 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. 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 so as you mature you look for a different kind of investor and that naturally tends to happen. Anthemos Georgiades: Its just part of the game and it doesnt [24:30]. 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. Prices can change quickly! Like what have you seen that really works? Hes raising money now. 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. His passion for relieving the stress for others in . Hes raising money now. We love our investors. So you acquire not long ago Pat Mapper and how did this come together? Got it. How many listings do we have on the site? 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. Alejandro: I love it. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. Pat Mapper caters to 25 and under and kind of big college populations. Anthemos Georgiades: Yeah. 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. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. 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? 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 kind of just have to [25:29] but just to be clear yeah, we had far more nos than yeses at the seed round. So you know I think Axle Springer very used to appraising companies that match their scale. I love it. 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. For Zumper's Georgiades, many Florida markets, such as Fort Lauderdale, Miami, Orlando, and Tampa, have been the big pandemic winners. Get a custom action plan and all the help that you need to start raising more capital. 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. Anthemos Georgiades: Its part of the game. I have no experience doing that. Of course and I agree with you there, Anthemos. Every company is completely different and theres no gold standard. Yeah. So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. But oh we must have had like 20 persons or 20 people say not now or later. 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? 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. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. Its a good question. For every successful fundraise, every single company have a lot of nos. So how did you meet your cofounders? I kind of looked through in Crunchbase which connections I have into which fund. Anthemos Georgiades | Multifamily Executive Magazine anthemos georgiades net worth. I mean I think at seed round its like an [26:02]. Zumper CEO & Co-Founder Anthemos Georgiades makes renting an apartment as easy as booking a hotel, shares insights on monetizing marketplaces, diversifying r. So what is the best way, Anthemos, for people that are listening to reach out and say hi? Member profile: Zumper's founders - Anthemos Georgiades and Russell I really enjoyed it and great stuff. Anthemos Georgiades On Building A Marketplace That Helps Millions of Got it. Alejandro: Got it. Anthemos Georgiades is the co-founder and CEO of Zumper. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. Yeah. Got it. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. 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. Its hard. In the early days, youre going to need to take all the capital you can get. Youre right that is wrong advice. Yeah. In terms of investors, I guess two comments. Anthemos Georgiades: Oh wow, good question. Got it. Think Masterclass for Management. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. 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. 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. 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. Well, first of all, your point about quashing the egg and shooting the chicken. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. Alejandro: Alrightee. 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. 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. Thank you so much. I mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. 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. Anthemos Georgiades: Hey, thanks for having me. Its a Greek name, British accent. Of course. Budget in my opinion perhaps should be allocated to something else. Russell Middleton Co-Founder. I knew the CEO for a while. Every fantastic company has had hundreds of nos on the way to kind of huge outcomes and you just cant take it personally. 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. 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]. 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. Absolutely. Anthemos Georgiades (Zumper) | Startup Grind Township Of Ocean Police Department. 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. So how did you meet your cofounders? Your third month is getting kind of diligence done and getting the wires in to the door. Alejandro: Got it. So tell me your story a little bit here, Anthemos. I'm so proud of my wife Lucy Georgiades and her cofounder Lindsey Nehls on launching their business Elevate Academy today. So Anthemos, theres always a first time and you know I guess this is the first time in the history of the DealMakers Show that Im able to interview someone that has been involve on the M&A but more on the buy side. 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. 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. 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. 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. All of it is going to be important and it will come out at the right stage. So you know I think Axle Springer very used to appraising companies that match their scale. 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. 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.