anthemos georgiades net worth
It just really helps to divide and conquer like that while I was meeting new investors again. 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. 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. hendrick motorsports hats; anthemos georgiades net worth 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]. Retention is something I think about every day. A lot of it was completely bottom up. 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. 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. Were very clear with Axle Springer that we have a lot of consumer scale so a lot of people use our platform on a monthly basis but were still building the [21:55]. Anthemos Georgiades: Yeah. So we bought them. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. Retention is something I think about every day. Absolutely. Well, today's guest noticed that experience and wanted to improve it. I'm so proud of my wife Lucy Georgiades and her cofounder Lindsey Nehls on launching their business Elevate Academy today. 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. Based in San Francisco, Anth leads the company in its mission to make renting an apartment as easy as booking a hotel. 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. He runs all the background of operation and he came from the real estate industry, two completely different background and neither of them was an obvious pick when I started the company at grad school. It seemed crazy that the real estate industry wasnt moving towards on demand. 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. Whats your story and most importantly, how did you get started with the entrepreneurial bug? They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? 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? "While many markets cool off during the winter, Miami is still posting month-over-month increases. Keeping good lines of communication open can solve many landlord/tenant problems. So I think three months is an efficient round. Absolutely. I have no experience doing that. Got it. Please subscribe to unlock this content. It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. I mean I called it like a cheat [33:33] my team. There could be investors who are fantastic. Im so glad I did it. So I wouldnt be too picky early. 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. So what is the best way, Anthemos, for people that are listening to reach out and say hi? How many listings do we have on the site? Weve only been working with Axle Springer for four months now but they are fantastic. One Lesson Led This Entrepreneur To Raise $90 Million From The - Forbes Anthemos Georgiades CEO at Zumper United States 4K followers 500+ connections Join to view profile Zumper Harvard Business School Websites Websites Company Website http://www.zumper.com Company. Im so glad I did it. Anthemos Georgiades - San Francisco Business Times 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. 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. rex harrison audrey hepburn relationship. 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]. 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. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. So thats how Zumper got started. Ckg1 Ckp1 - Ckg1a63-100 Yeah. How did you find these investors? For me, its Zumper, an apartment rental platform. In terms of investors, I guess two comments. And I mean its quite a few cofounders. 2023: The Road Ahead for Multifamily Operators Its a good question. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. Got it. Yeah. So it was never I want to be an entrepreneur journey. 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. It was always a man, there is a really tough problem that consumers experience and no one is solving it. Anthemos Georgiades: Yeah. 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. How flat is the company? 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 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 one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. Two sided marketplaces are so difficult. Well, first of all, your point about quashing the egg and shooting the chicken. Thats just part of the game. Alejandro: Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? So today, we have another founder and another one that is quite successful in their own paths. 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? Im the CEO and Ive always felt that it was my responsibility to do the fundraising. 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. Yes, weve raised $90 million in capital including a series C that we just closed three months ago. Every fantastic company has had hundreds of nos on the way to kind of huge outcomes and you just cant take it personally. Thats your job. 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. It was like $46 million. Rental listing startup with more than 26 million users. I think at that stage it makes sense. They are brilliant about. Anthemos Georgiades: Yeah, sure. The one unifying theme in every fundraising Ive run is momentum. Look how quickly our revenue are scaling. Alejandro: Of course. So we bought them. Well, Anthemos, it has been a pleasure to have you on the show. Thats just part of the game. 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? Alrightee. 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? You start to build depth and management structures. For me, its Zumper, an apartment rental platform. So it doesnt always work out and I think thats fine. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. 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? Try for free at rocketreach.co Yeah. 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. Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. So seed, series A, series B, series C, I was always the point person in the fundraise. So I think three months is an efficient round. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. 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. 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 in the first two years, Zumper is now [07:52] $90 million in capital. I mean at the end of the day, building and scaling companies especially when youre at the early stages is all about survival and its all about learning to be with each other behind the trenches and really going to war and having each others backs. Anthemos Paul Georgiades has been associated with one company, according to public records. So in the first two years, Zumper is now [07:52] $90 million in capital. Hes raising money now. 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. 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? So all good companies have multiple offers on the table. Got it. Youre right that is wrong advice. I met Russel who [04:01] engineering products through just the personal connections in London. At college in the UK, Ive had like multiple [00:58] renting apartments. Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? Your third month is getting kind of diligence done and getting the wires in to the door. A lot of business schools was how to make decisions with imperfect information. Meaning hey, we send you a ton of leads this month that close in to leases. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. This show is about storytelling and all the elements that go into telling the perfect fundraising story. 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. Got it. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. So cofounders are difficult especially if youre not technical as really hard to find a good technical cofounder but the great thing is once you do and it takes a long time, they are able to attract the next generation of talent in to the company and thats how you kind of build your engineering team out. How Zumper founder created software to solve the pain of apartment 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. 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. Categories . You just cant get spooked. Likewise. How flat is the company? Alejandro: Fantastic. What's in Store for Multifamily Markets in 2023? Anthemos lives in San Francisco, where Zumper is HQd, with his wife. A lot of business schools was how to make decisions with imperfect information. You know its interesting that you mentioned the chicken and the egg. 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. Additionally, Anthemos Georgiades has had 2 past jobs including Consultant at The Boston Consulting Group. He was with HBS 10 years ago. Zumper Board Member Related Hubs 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. Your third month is getting kind of diligence done and getting the wires in to the door. 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. Got it and before we actually dive in to the journey here, so consulting and. That is where your focus is and even though you kind of missed doing some of the stuff and the weeds and my team continue to tell me to get away from the weed and continue to [36:12] the 50,000 set, you have to let it go and trust your team to do a better job than you were doing. So it doesnt always work out and I think thats fine. 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? 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. And so when you think about AB testing frameworks, you think about how many started [03:43] that is a [03:44] grad school taught me. Your job as the CEO and the founder is to convince your investors of the reason to do this. 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. anthemos georgiades net worthperpetual futures binance. Its a Greek name, British accent. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. Oh wow, good question. So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. Its not about the ski trips and any of that you know. Great question. Yeah. Terms & Conditions! Anthemos Georgiades: Yeah. Anthemos Georgiades: So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. 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. Anthemos Georgiades - Previous President for Zumper, Inc. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. 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. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. Yeah. But theres no right answer in business. 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. anthemos georgiades net worth 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. 1. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles How did you find these investors? Hes raising money now. Your second month you spend getting term sheets and documents signed. But theres no right answer in business. You just cant get spooked. comfortbilt pellet stove low temp alarm Well, first of all, your point about quashing the egg and shooting the chicken. 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. Alejandro: Alrightee. Thank you so much. 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. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. Absolutely. 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. Georgiades founded Zumper after his own . Every fantastic company has had hundreds of nos on the way to kind of huge outcomes and you just cant take it personally. They are brilliant about. 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 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. anthemos georgiades net worth Anthemos Georgiades: No. So all good companies have multiple offers on the table. Pat Mapper caters to 25 and under and kind of big college populations. Anthemos Georgiades | Multifamily Executive Magazine Alejandro: Of course and I agree with you there, Anthemos. 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. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. [06:54] the early days and it worked where there was just all hands to the pump. Got it. 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? But oh we must have had like 20 persons or 20 people say not now or later. Pat Mapper caters to 25 and under and kind of big college populations. His passion for relieving the stress for others in .