It is not suppose to be easy. 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? 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. Got it. 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. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. It was always a man, there is a really tough problem that consumers experience and no one is solving it. How many listings do we have on the site? Anthemos Georgiades: Yeah. 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. Got it. Your job is to raise capital and your job is to kind of hire and retain the best talents. You can set the expectations and then see what happens and if its not a good fit upfront, you can go with the different option on the table. Get a custom action plan and all the help that you need to start raising more capital. @zumper Stories Uncategorized All of it is going to be important and it will come out at the right stage. 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. They take every, some people go and warm theirif you have a brilliant idea, theyd be crazy not to take it and then their entire value is obviously give you a three month program and then at the end expose you to liek 40 investors. Anthemos Georgiades: Yeah. 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. As CEO, Anthemos has raised $39.2 million in venture capital from investors including Kleiner Perkins, Goodwater Capital, Breyer Capital and Foxhaven Asset Management, including a Series B round in Oct. 2016 when many start-ups were struggling. 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. And were just a little earlier than obviously a public company so our gross is spikier. Whats your story and most importantly, how did you get started with the entrepreneurial bug? Anthemos Georgiades: Yeah. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. Every company is completely different and theres no gold standard. 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. Culture is everything and so investing in people making sure I as the CEO spend a lot of time as much as possible with people who dont report to me is absolutely critical and that is ultimately like the fabric on how most companies are run. Well, first of all, your point about quashing the egg and shooting the chicken. There was no book [01:41]. Anthemos Georgiades: Yeah. Anthemos Georgiades: Yeah. I mean I think at seed round its like an [26:02]. 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. So today, we have another founder and another one that is quite successful in their own paths. 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. Anthemos Georgiades is co-founder & CEO of Zumper, the largest startup in the rental industry. Alejandro: 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? For me, its Zumper, an apartment rental platform. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. He's raised $39.2 million in venture capital, grown the team to 70+, and completed the acquisition of apartment search platform PadMapper. 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. When you look your cofounders, your team in the eye and you know theyre ready to go and theyre resilient and they come back in to build and try the next thing and youve kind of worked out together this is part of the game. 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. Never thought Id be an entrepreneur. No. 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? 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. 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? At scale you get to do that and have those teams. Its hard. You know its interesting that you mentioned the chicken and the egg. If you want me to do your fundraising for you, click here. Alejandro: Got it. So lets talk about Zumper here. 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. So I wouldnt be too picky early. 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? Vishal Makhijani President & COO. Yeah. How flat is the company? Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. 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. 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. See How I Can Help You With Your Fundraising Efforts. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. How much respect is there? Got it. Taylor Glass-Moore Co-Founder. We both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. It is not suppose to be easy. Its a good question. ! Anthemos Georgiades: Yeah. And investors love that story because its easy to believe that you can continue to do that. Two sided marketplaces are so difficult. I was just talking to a friend of mine about this. Anthemos Georgiades is CEO/Co-Founder at Zumper Inc. See Anthemos Georgiades's compensation, career history, education, & memberships. 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. I have no experience doing that. Got it. 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. Fantastic. Had worked at the Boston Consulting Group. One is I wouldnt be too pressured about it too early. How autonomous can people be at the junior levels? 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? The one unifying theme in every fundraising Ive run is momentum. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. Alejandro: I love it. How autonomous can people be at the junior levels? 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]. How many listings do we have on the site? Got it. Anthemos was an undergrad at Oxford when he noticed how problematic renting an apartment . And frankly, the process is a pain in the ass. So we tell the small landlords, Hey, dont just advertise in Zumper. 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. 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. Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. Think Masterclass for Management. He remains a huge Tottenham Hotspur fan, and wakes up painfully every Saturday morning to tune into the live English soccer games. 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]. True to its reputation, Comfortbilt's HP22 pellet stove comes with a heating capacity of 50,000 BTU. One is I wouldnt be too pressured about it too early. 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. 1.4.1 - Provisions of this Code Declared . What are some tips for successfully navigating the rental market from a renter's perspective? At the end of the day though, whether its senior people, junior people, interns who we want to bring back is all under pinned by culture. Anthemos Georgiades CEO and co-founder. Never thought Id be an entrepreneur. 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. 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. At series A, you got to show product market set in a sub vertical. . 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. After that, it changed to more consumer. They are brilliant about. How much respect is there? Every fantastic company has had hundreds of nos on the way to kind of huge outcomes and you just cant take it personally. And talking about hustling the network, was there any because I mean those networks that you have I think the network of Harvard is really fantastic and then you know the BCG as well but is there like any process that you followed to really like leverage the network? Thats quite motivating for people. Zumper CEO and co-founder May 2012 Board and Advisor Roles Number of Current Board & Advisor Roles 1 Anthemos Georgiades is the Board Member at Zumper. Youre right that is wrong advice. Alejandro: Got it. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. 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. In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. So for the business, Anthemos, how much capital have you guys raised today? 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 that is in the bank. 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. Prior to his work at Zumper, Georgiades worked at the Boston . Got it. 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. Great question. Anthemos Georgiades. At scale you get to do that and have those teams. It has to be me and thats how I started the company six years ago after business school. So tell me your story a little bit here, Anthemos. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. You are going to get a bunch of nos so I wouldnt rule people out too early. A lot of business schools was how to make decisions with imperfect information. Dave Costantino Staff Engineer - Backend. So yes, we have a great cap table. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. 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. His passion for relieving the stress for others in . So M&A are strategic [33:48]. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. We also actually had a really wonderful fourth cofounder whos no longer with us. 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. 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. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. So all good companies have multiple offers on the table. And I mean its quite a few cofounders. So I guess like I have one thing to follow up on this. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. 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. Yeah. Got it. And so I wouldnt be too pressured. Anthemos Georgiades: Yeah. In the early days, youre going to need to take all the capital you can get. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. And investors love that story because its easy to believe that you can continue to do that. So that was great. Anthemos Georgiades: 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. We also actually had a really wonderful fourth cofounder whos no longer with us. Over time, its great to be able to bring in your team. [06:54] the early days and it worked where there was just all hands to the pump. It happened but I wouldnt say its like an obvious part. Thank you so much. 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.

Trey Cabbage Signing Bonus, Graal Era Upload, Carrier Furnace Led Codes 3 Short 3 Long, Qvc Belle By Kim Gravel Clearance, Articles A