So the series B, weve done story now look at how quickly the renters are growing on the platform. Anthemos Georgiades: Yeah. 1.4.1 - Provisions of this Code Declared . Anthemos Georgiades is the CEO and co-founder at Zumper. Obviously they knew and I think for us it was like telling Axle and the rest of our investors that there are going to be months where we massively beat plans and there will be months where were behind plans. Thats just part of the game. 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. Alejandro: Got it. At series A, you got to show product market set in a sub vertical. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. 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? Zumper CEO & Co-Founder Anthemos Georgiades makes renting an apartment as easy as booking a hotel, shares insights on monetizing marketplaces, diversifying r. Saying that, in the early days you kind of need to bring on all the capital that you can. It was always a man, there is a really tough problem that consumers experience and no one is solving it. Anthemos Georgiades: Yeah. Alejandro: Got it. Alejandro: Fantastic. How flat is the company? Categories . Oh wow, good question. How did you find these investors? After that, it changed to more consumer. 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. I think Id say forget everything you think you know and everything, your education [38:28]. 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 I wouldnt be too picky early. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. 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. Make sure tenants understand why things are . Whats your story and most importantly, how did you get started with the entrepreneurial bug? So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. . 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. Yeah. Every company is completely different and theres no gold standard. Ill set the first couple of meetings often alone but its been wonderful as weve grown our executive team to be able to bring like our VP of sales, our head of grow, our CPO in to the meetings afterwards when they want to meet the team. There was no book [01:41]. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. So I guess how did that consulting experience shape up your approach in terms of like tackling problems and the entrepreneurial journey itself? And as you know as and your listeners know, youre going to get a lot of nos on the way. Anthemos Georgiades: Yeah. But oh we must have had like 20 persons or 20 people say not now or later. 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 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. A lot of business schools was how to make decisions with imperfect information. 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. I'm so proud of my wife Lucy Georgiades and her cofounder Lindsey Nehls on launching their business Elevate Academy today. 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. 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. Got it. Whats your story and most importantly, how did you get started with the entrepreneurial bug? It was not something Ive really ever thought about before. Anthemos Georgiades Email & Phone Number - Zumper | ZoomInfo June 12, 2022 . At college in the UK, Ive had like multiple [00:58] renting apartments. 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 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. Rocketreach finds email, phone & social media for 450M+ professionals. Anthemos lives in San Francisco, where Zumper is HQd, with his wife. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. How many listings do we have on the site? Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. At series A, you got to show product market set in a sub vertical. Pat Mapper caters to 25 and under and kind of big college populations. 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. 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? I have no experience doing that. Anthemos Georgiades is co-founder & CEO of Zumper, the largest startup in the rental industry. Alrightee. Anthemos Paul Georgiades has been associated with one company, according to public records. Well, first of all, your point about quashing the egg and shooting the chicken. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. 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. How do you take a company with those tractions, 10 million in revenue. 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 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? 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. Anthemos Georgiades: Yeah. What's in Store for Multifamily Markets in 2023? Yeah. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? Were growing very quickly but none of that was true obviously in the first two years. [06:54] the early days and it worked where there was just all hands to the pump. So what is the best way, Anthemos, for people that are listening to reach out and say hi? 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. How much respect is there? 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. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. This pellet stove is a good heating solution for a smaller rather than a . So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. 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. 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 Current Workplace Zumper Location 555 Montgomery St Ste 1300, San Francisco, California, 94111, United States Industry Information Collection & Delivery, Media & Internet Description Discover more about Zumper Anthemos Georgiades Work Experience and Education Work Experience Manager, Summer Investment Atomico 2009-2010 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. 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. 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. So Anthemos, whats the business model here? Look how quickly our revenue are scaling. Got it. 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. Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. I didnt think that either of them originally. Fantastic. Alejandro: So Im completely there with you. 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. Alejandro: Got it. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. And to be fair, some of these 20 did indeed come back later to invest but in Boston and I pitched all of the east coast investors first because I was on the east coast and they were straight nos. 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 tell me your story a little bit here, Anthemos. In the early days we love the exposure to Silicon Valley investors. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. 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. The company was incorporated in California, Texas, and Florida ten years ago. So I think three months is an efficient round. 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. Anthemos Georgiades: Yeah. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. "These markets had a huge net migration from New York and California, and they have held up," he says. So seed, series A, series B, series C, I was always the point person in the fundraise. 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. Anthemos Georgiades: Yes, weve raised $90 million in capital including a series C that we just closed three months ago. 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 if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. It just really helps to divide and conquer like that while I was meeting new investors again. Get 5 free searches. How did you find these investors? Prior to his work at Zumper, Georgiades worked at the Boston . Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. So thats how Zumper got started. anthemos georgiades net worthperpetual futures binance. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. She was our original CPO and after the series A, she moved on to roller, another company and we promoted someone internally to CPO. 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. Township Of Ocean Police Department. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. Anthemos Georgiades: One Lesson That Led To Raise $90 Million From The 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: Really, really nice to have you here and excited for the chat that we have ahead here. But theres no right answer in business. 2023: The Road Ahead for Multifamily Operators 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. How many landlords did we have on the site? They wanted to close apartments like they book a hotel and so took the status of like 35 different apartments we leased using the technology in San Francisco to VCs and said, Hey, were really going to rebuild all of this but heres some data that shows this really can work at scale, and thats how we raised the first million dollars from some of the names that you mentioned. 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. But oh we must have had like 20 persons or 20 people say not now or later. You start to build depth and management structures. ! And to be fair, some of these 20 did indeed come back later to invest but in Boston and I pitched all of the east coast investors first because I was on the east coast and they were straight nos. Read More: Sujal Patel On Selling His First Business For $2.6 Billion And Now Raising $108 Million From Jeff Bezos And Others To Improve Medical Diagnostics. All photos courtesy of Forbes Councils members. 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]. You just cant get spooked. It has to be me and thats how I started the company six years ago after business school. I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. Just enter your email below. You are going to get a bunch of nos so I wouldnt rule people out too early. Your job is to raise capital and your job is to kind of hire and retain the best talents. 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. There was no book [01:41]. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. A lot of it was completely bottom up. And we built this website using an outsource development shop in Europe that just tested one assumption of the end game which was can we get users in 2011, 2012 just as mobile was coming online to apply and close apartments from their phone. 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. So seed, series A, series B, series C, I was always the point person in the fundraise. Your second month you spend getting term sheets and documents signed. 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. He had actually interviewed me for a job at a different consulting firm and we stayed in touch. Stay informed using all the free online rental data out there (like Zumper's national rent report). How autonomous can people be at the junior levels? Two sided marketplaces are so difficult. Russell Middleton Co-Founder. Anthemos Georgiades: Yeah. Hes raising money now. I mean your job moves from doing jobs in the first few years. Like what have you seen that really works? 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. 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. Got it. I mean I think at seed round its like an [26:02]. He has grown the Zumper team to 50 and counting and successfully completed the acquisition of apartment search platform PadMapper.