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So how did you meet your cofounders? 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. Your job as the CEO and the founder is to convince your investors of the reason to do this. 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. Youre right that is wrong advice. 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. Its a Greek name, British accent. Got it. Got it. Categories . Anthemos Georgiades, Zumper, European Founder, International Founders, Marketplace The process of renting apartments hasn't changed since Craigslist was introduced. Anthemos Georgiades email address & phone number - RocketReach 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. 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. How flat is the company? How does the day to day at Zumper work? August 4, 2020. Keeping good lines of communication open can solve many landlord/tenant problems. So it was never I want to be an entrepreneur journey. We both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. And I mean its quite a few cofounders. So thats how Zumper got started. 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. So today, we have another founder and another one that is quite successful in their own paths. Budget in my opinion perhaps should be allocated to something else. 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. 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. 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. 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. Got it. Terms & Conditions! I was just talking to a friend of mine about this. I really enjoyed it and great stuff. For me, its Zumper, an apartment rental platform. What's in Store for Multifamily Markets in 2023? 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. 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 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. Yeah. 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. Your job is to raise capital and your job is to kind of hire and retain the best talents. At scale you get to do that and have those teams. [06:54] the early days and it worked where there was just all hands to the pump. 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. And then my other cofounder Kurt Taylor I met through his mother who was an [04:43] and it was another example of just pure hustle. 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. Thats just part of the game. 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. Absolutely. 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? 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. Fantastic. A lot of business schools was how to make decisions with imperfect information. 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. Hes raising money now. 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. 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? Likewise. 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. Got it. But was drawn in to it just to solve a problem as I think so many entrepreneurs are. Hello, everyone, to the DealMakers Show. And then at business school, I think the single biggest thing I learned through the case study method which is how they teach it at Harvard Business School but I think its true. city of phoenix setback requirements So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. Anthemos Georgiades. So thats how Zumper got started. 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 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. 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. Alejandro: Got it. A lot of that is in the bank. And it is the culture that keeps people here, not the compensation or anything else. Got it. Over-Communication. 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. anthemos georgiades net worth So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. 10 Things All Landlords Should Remember To Ensure Good Tenant - Forbes Anthemos Georgiades, Zumper Inc: Profile and Biography 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. Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? Anthemos Georgiades is the co-founder and CEO of Zumper. 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? We both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. comfortbilt pellet stove low temp alarm Alejandro: Got it. So what is the best way, Anthemos, for people that are listening to reach out and say hi? Got it. So for the business, Anthemos, how much capital have you guys raised today? 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. 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. This show is about storytelling and all the elements that go into telling the perfect fundraising story. You are going to get a bunch of nos so I wouldnt rule people out too early. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. But theres no right answer in business. Anthemos Georgiades On Building A Marketplace That Helps Millions of For every successful fundraise, every single company have a lot of nos. It looks better for investors and it makes your life easier. "These markets had a huge net migration from New York and California, and they have held up," he says. 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. Oh wow, good question. Well, Anthemos, it has been a pleasure to have you on the show. There could be investors who are fantastic. Like many of our most successful entrepreneurs, Anthemos Georgiades was drawn into startup life to solve a burning problem. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? Of course. 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? 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. There was no book [01:41]. 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. So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways.