anthemos georgiades net worth anthemos georgiades net worth

Got it. So I learned a lot from a few companies that I loved, a few companies that I thought are doing crazy things I learned so much. Subscribe: Google Podcasts | Spotify | Stitcher | TuneIn | RSS | More. Got it. Got it. 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. But I will say the one thing is true is that you always raise on momentum. He was with HBS 10 years ago. 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. Im so glad I did it. So Anthemos, whats the business model here? [06:54] the early days and it worked where there was just all hands to the pump. Got it. At scale you get to do that and have those teams. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. Got it. Anthemos Georgiades: No. 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 investors love that story because its easy to believe that you can continue to do that. Well, today's guest noticed that experience and wanted to improve it. 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 is CEO/Co-Founder at Zumper Inc. See Anthemos Georgiades's compensation, career history, education, & memberships. Alejandro: Got it. Yeah. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. So how did you meet your cofounders? 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. Anthemos Georgiades: Yeah. Fantastic. Now my cofounders were phenomenal in bringing them to meetings. And as you know as and your listeners know, youre going to get a lot of nos on the way. At series B, you got to show product market set across the board with the revenue and then at series C, you got to show real traction and real revenue and a proper P&L. 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. Alejandro: Got it. I met Russel who [04:01] engineering products through just the personal connections in London. 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: Yes, weve raised $90 million in capital including a series C that we just closed three months ago. It was always a man, there is a really tough problem that consumers experience and no one is solving it. 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. I mean I called it like a cheat [33:33] my team. It happened but I wouldnt say its like an obvious part. One is I wouldnt be too pressured about it too early. So it doesnt always work out and I think thats fine. Anthemos Georgiades CEO and co-founder. It was kind of [31:51] as early as we did to buy another stock up that was kind of four years in. 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? 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. Alejandro: Got it. 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. They are brilliant about. 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. So you know I think Axle Springer very used to appraising companies that match their scale. 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. 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. 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. 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. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. 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. Dave Costantino Staff Engineer - Backend. A lot of it was completely bottom up. 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. You rarely have enough data to make the absolutely correct decision and I think a lot of businesses fail especially start ups when they dont make decisions fast enough and in business schools, the case study methods taught me how to feel confident in making decisions without perfect information and how to use data to kind of then review once youve launched, whether it was right or wrong. 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? 1.4.1 - Provisions of this Code Declared . 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. 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? The company was incorporated in California, Texas, and Florida ten years ago. There could be investors who are fantastic. So Anthemos, whats the business model here? And it is the culture that keeps people here, not the compensation or anything else. Anthemos Georgiades: Yeah. I think if you set these expectations from the very beginning that are super important. So that was great. 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. Get Anthemos Georgiades's email address (a*****@zumper.com) and phone number (646398..) at RocketReach. So I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. ! Budget in my opinion perhaps should be allocated to something else. You know its interesting that you mentioned the chicken and the egg. 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. Got it. Absolutely. Retention is something I think about every day. Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. After that, it changed to more consumer. Two sided marketplaces are so difficult. Got it. 1. We saw it would take three to six months to integrate Pat Mapper and their backend that engineering project we worked really hard and quickly just over a year to integrate so we underestimated like how much work was required to integrate them by 3x. It was incredibly difficult. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. Retention is something I think about every day. Township Of Ocean Police Department. Look how quickly our revenue are scaling. 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. 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. Its hard. Had worked at the Boston Consulting Group. Likewise. Anthemos was an undergrad at Oxford when he noticed how problematic renting an apartment . In the early days we love the exposure to Silicon Valley investors. Oh wow, good question. 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. 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. It just really helps to divide and conquer like that while I was meeting new investors again. Its a Greek name, British accent. So you acquire not long ago Pat Mapper and how did this come together? Anthemos Georgiades: Yeah, sure. Got it. 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. In the early days, youre going to need to take all the capital you can get. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. So what I wanted to ask you here is in terms of on boarding lets say this type of, because its a different beast, you know type of investors so how does the approach from evaluating an investor that is a VC, an angel or an angel group shift towards evaluating a potential strategic corporation that is looking to become part of your cap table? Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. Anthemos Georgiades: Its just part of the game and it doesnt [24:30]. So tell me your story a little bit here, Anthemos. Thats your job. Anthemos Georgiades: One Lesson That Led To Raise $90 Million From The Top Venture Capital Firms by Alejandro Cremades Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solving a burning problem. Your third month is getting kind of diligence done and getting the wires in to the door. Anthemos Georgiades: Yeah. In terms of investors, I guess two comments. Yes, weve raised $90 million in capital including a series C that we just closed three months ago. At series B, you got to show product market set across the board with the revenue and then at series C, you got to show real traction and real revenue and a proper P&L. I met Russel who [04:01] engineering products through just the personal connections in London. 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. A lot of that is in the bank. 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. At series A, you got to show product market set in a sub vertical. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. And so I finally just gave in and thought no one is going to build this. 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. How flat is the company? 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. The most important thing is to surround yourself with an amazing support group because it is so much harder to build a company than I thought it was and the emotional resilience you need to get through the dark days and come back to the bright days even now is what [38:54] just get harder like yeah, we have more revenue now but with that there are people [38:58] and like huge revenue targets we have to attain and so the most important thing is surround yourself with a network of family, friends, mentors, peers, your team, your investors, whoever is an emotional crutch for you where you can take from them but also maybe get back to them as well when theyre having a tough time, thats the single most important thing is look after your mental health because it is lonely and it is stressful and if youre able to kind of be resilient you have a great outcome but it is really hard on some days to push through, so build that around just [39:35] and you can be happy while running your company. 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. So in the first two years, Zumper is now [07:52] $90 million in capital. The most important thing is to surround yourself with an amazing support group because it is so much harder to build a company than I thought it was and the emotional resilience you need to get through the dark days and come back to the bright days even now is what [38:54] just get harder like yeah, we have more revenue now but with that there are people [38:58] and like huge revenue targets we have to attain and so the most important thing is surround yourself with a network of family, friends, mentors, peers, your team, your investors, whoever is an emotional crutch for you where you can take from them but also maybe get back to them as well when theyre having a tough time, thats the single most important thing is look after your mental health because it is lonely and it is stressful and if youre able to kind of be resilient you have a great outcome but it is really hard on some days to push through, so build that around just [39:35] and you can be happy while running your company. 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. 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. It is ultimately the culture. Zumper CEO & Co-Founder Anthemos Georgiades makes renting an apartment as easy as booking a hotel, shares insights on monetizing marketplaces, diversifying r. I grew up in London. So today, we have another founder and another one that is quite successful in their own paths. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. It was at the time Pat Mapper example almost the same size on consumer but now Zumper is much bigger but we called it like a cheat and your job as the founder is to identify like vertical cheats where overnight you become bigger than your competitors. 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]. Got it. They were super lean team of under five people and its been a great deal for Zumper like we have one backend, one sales team and then two consumer platforms. Thats quite motivating for people. If you want me to do your fundraising for you, click here. 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. Anthemos Georgiades, Zumper, European Founder, International Founders, Marketplace The process of renting apartments hasn't changed since Craigslist was introduced. This pellet stove is a good heating solution for a smaller rather than a . 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]. The one unifying theme in every fundraising Ive run is momentum. How many listings do we have on the site? So what I wanted to ask you here is in terms of on boarding lets say this type of, because its a different beast, you know type of investors so how does the approach from evaluating an investor that is a VC, an angel or an angel group shift towards evaluating a potential strategic corporation that is looking to become part of your cap table? 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 how did you meet your cofounders? 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. Meaning hey, we send you a ton of leads this month that close in to leases. 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. 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. Im so glad I did it. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. All of it is going to be important and it will come out at the right stage. 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. Got it. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. Stay informed using all the free online rental data out there (like Zumper's national rent report). 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. A lot of that is in the bank. Get 5 free searches. So what was that process like you were talking about, yes, your network of Harvard but can you share with us like what was that process of landing Kleiner on your seed round? And were just a little earlier than obviously a public company so our gross is spikier. Well, Anthemos, it has been a pleasure to have you on the show. Anthemos Georgiades: Yeah. 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. And it was just [22:11] during the process that its a startup, were at growth stage but not to expect to be able to predict our courses like that public company again. Over time, its great to be able to bring in your team. He remains a huge Tottenham Hotspur fan, and wakes up painfully every Saturday morning to tune into the live English soccer games. Alejandro: Got it. 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. I mean I called it like a cheat [33:33] my team. So M&A are strategic [33:48]. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? 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. Its a good question. So all good companies have multiple offers on the table. Your email address is 100% safe from spam! 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. Anthemos Georgiades: Yeah. 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. I was just talking to a friend of mine about this. They are brilliant about. At Zumper, based in San Francisco, he leads the company in its mission to make renting an apartment as easy as booking a hotel. So I guess how did that consulting experience shape up your approach in terms of like tackling problems and the entrepreneurial journey itself? Really, really nice to have you here and excited for the chat that we have ahead here. How autonomous can people be at the junior levels? Anthemos Georgiades is the CEO of <a href="http://zumperblog.kinsta.cloud">Zumper</a>. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. So yes, we have a great cap table. I dont think theres a startup I could have launched that taught me more. 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 youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. But I will say the one thing is true is that you always raise on momentum. 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. So tell me your story a little bit here, Anthemos. Its just part of the game and it doesnt [24:30]. I mean I think at seed round its like an [26:02]. anthemos georgiades net worthperpetual futures binance. Every company is completely different and theres no gold standard. I mean your job moves from doing jobs in the first few years.