anthemos georgiades net worth

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. 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, Zumper, European Founder, International Founders, Marketplace The process of renting apartments hasn't changed since Craigslist was introduced. 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. Yeah. And even though that sounds so obvious six years later, people just werent doing this in 2011, 2012 and we created a bunch of data that overwhelming shows the renters wanted to be applying for apartments from their phone. So you know I think Axle Springer very used to appraising companies that match their scale. How many landlords did we have on the site? 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? Please subscribe to unlock this content. He was with HBS 10 years ago. Im so glad I did 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? It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. 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 paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? 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]. Your email address is 100% safe from spam! So seed, series A, series B, series C, I was always the point person in the fundraise. Alejandro: I love it. 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. Anthemos Georgiades: Yeah. So we bought them. 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. I grew up in London. All of it is going to be important and it will come out at the right stage. 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. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. Thank you so much. Absolutely. Alejandro: 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? rex harrison audrey hepburn relationship. We also actually had a really wonderful fourth cofounder whos no longer with us. 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. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. Got it. Got it. I love it. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. August 4, 2020. anthemos georgiades net worth. Really good strategy to differentiate the demographics and were super happy with how it went down. It happened but I wouldnt say its like an obvious part. But oh we must have had like 20 persons or 20 people say not now or later. For me, its Zumper, an apartment rental platform. How autonomous can people be at the junior levels? 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: Yeah. I think Id say forget everything you think you know and everything, your education [38:28]. 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 finally just gave in and thought no one is going to build this. 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. 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. 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. 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. How did you find these investors? 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. Its a good question. 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. Published by at June 13, 2022. 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. Anthemos Georgiades: So Zumper is the vision for the company is to make renting an apartment as easy as booking a hotel. I mean I think at seed round its like an [26:02]. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. We also actually had a really wonderful fourth cofounder whos no longer with us. 1. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. Get 5 free searches. Your second month you spend getting term sheets and documents signed. No. Thats quite motivating for people. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. Got it. 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. 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. 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. Try for free at rocketreach.co 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. It is not suppose to be easy. Anthemos Georgiades CEO and co-founder. We have like four people at the company for the first year or maybe five for the first year and so theres so much to do and theres so little time and few resources that you actually theres no real intellectual whiteboarding session that you do to carve out rose. You can filter down by city and . So M&A are strategic [33:48]. 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. Meaning hey, we send you a ton of leads this month that close in to leases. Saying that, in the early days you kind of need to bring on all the capital that you can. So it doesnt always work out and I think thats fine. 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 Id say your first month you spend like getting first, second, third meeting. So the series B, weve done story now look at how quickly the renters are growing on the platform. Anthemos and Russell met in London while working at a consulting company back in 2006, but it was after they moved to the U.S and experienced the pain of finding a place to live that they decided to found Zumper along with Taylor Glass-Moore and Leah Jones. I dont think theres a startup I could have launched that taught me more. Yeah. 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]. Now my cofounders were phenomenal in bringing them to meetings. So I wouldnt be too picky early. It looks better for investors and it makes your life easier. How autonomous can people be at the junior levels? So that was great. Two sided marketplaces are so difficult. It was always a man, there is a really tough problem that consumers experience and no one is solving it. Its just part of the game and it doesnt [24:30]. 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.

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