It was incredibly difficult. Anthemos Georgiades: Yeah. 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 happened but I wouldnt say its like an obvious part. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. 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]. I mean I called it like a cheat [33:33] my team. Alejandro: Got it. I kind of looked through in Crunchbase which connections I have into which fund. Alejandro: Got it. Anthemos Georgiades is the co-founder and CEO of Zumper. It was like $46 million. There was no book [01:41]. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. Got it. You can filter down by city and . Yeah. Anthemos Georgiades: 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. How flat is the company? So seed, series A, series B, series C, I was always the point person in the fundraise. Theyre both incredibly smart as are my executive team who are also like critical to fundraise where Ill go in and sell the vision often alone. 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. So yes, we have a great cap table. 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. I mean I called it like a cheat [33:33] my team. You know its interesting that you mentioned the chicken and the egg. Your second month you spend getting term sheets and documents signed. 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. For every successful fundraise, every single company have a lot of nos. I mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. How does the day to day at Zumper work? Anthemos Georgiades Email & Phone Number - Zumper | ZoomInfo 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]. 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. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. Well, first of all, your point about quashing the egg and shooting the chicken. Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. Tanguy Le Louarn Chief Product Officer. So I guess like I have one thing to follow up on this. Yeah. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. what was the premier league called before; 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. 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. Its not about the ski trips and any of that you know. So Id say your first month you spend like getting first, second, third meeting. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. It just really helps to divide and conquer like that while I was meeting new investors again. A lot of that is in the bank. Thank you so much. So we bought them. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. Yeah. So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. hendrick motorsports hats; anthemos georgiades net worth Of course. anthemos georgiades net worth 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. There was no book [01:41]. We love our investors. 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. So today, we have another founder and another one that is quite successful in their own paths. 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. It looks better for investors and it makes your life easier. 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. 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. Keeping good lines of communication open can solve many landlord/tenant problems. I grew up in London. 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 think just up front boundaries before you close the round is super important. 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. 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? So that was great. Published by at June 13, 2022. Every fantastic company has had hundreds of nos on the way to kind of huge outcomes and you just cant take it personally. If you want me to do your fundraising for you, click here. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. Got it. Got it. At college in the UK, Ive had like multiple [00:58] renting apartments. Got it. Got it. In the early days we love the exposure to Silicon Valley investors. 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. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. Pat Mapper caters to 25 and under and kind of big college populations. 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]. Alejandro: Of course. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. Its hard. 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. We both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. Alejandro: Got it. 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. 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. So lets talk about Zumper here. It seemed crazy that the real estate industry wasnt moving towards on demand. So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. Look how quickly our revenue are scaling. 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. Anthemos Georgiades (Zumper) | Startup Grind I think at that stage it makes sense. It has to be me and thats how I started the company six years ago after business school. At scale you get to do that and have those teams. I mean to a point network gets you an intro but a lot of intros are 10 minute meetings where the VC immediately decides its not for them which is totally fair. 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. Great question. 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. 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. 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?
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