Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. So it was never I want to be an entrepreneur journey. So how did you meet your cofounders? It happened but I wouldnt say its like an obvious part. 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. Yeah. All of it is going to be important and it will come out at the right stage. 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]. Your third month is getting kind of diligence done and getting the wires in to the door. You are going to get a bunch of nos so I wouldnt rule people out too early. If you guys are Zumper website, you can kind of kind at zumper.com the Contact Us or on Twitter I am just @anthemos, A-N-T-H-E-M-O-S on Twitter and yeah, I respond to people. But theres no right answer in business. 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. It is not suppose to be easy. 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. Anthemos Georgiades - San Francisco Business Times 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. 1. 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. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. 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. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. The company was incorporated in California, Texas, and Florida ten years ago. 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 I guess without further ado, Anthemos Georgiades from Zumper, welcome aboard. I think just up front boundaries before you close the round is super important. They were [sexy 23:47] company and really fantastic fundraisers but the rounds just take a long time, due diligence take a long time. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. And so I finally just gave in and thought no one is going to build this. So I saw for example Axle Springer which is you know more kind of like the corporate. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. Your job is to raise capital and your job is to kind of hire and retain the best talents. They are brilliant about. Hes raising money now. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. 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. 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. 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. So M&A are strategic [33:48]. Weve only been working with Axle Springer for four months now but they are fantastic. 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. Pat Mapper caters to 25 and under and kind of big college populations. Whats your story and most importantly, how did you get started with the entrepreneurial bug? 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. Get Anthemos Georgiades's email address (a*****@zumper.com) and phone number (646398..) at RocketReach. And the biggest change in the series C I just raised versus in the early days is having a CFO. And so just be prepared that however smart, however many smart people have looked the deal and thought about whether it will work, it always take a little bit more time than you think it will to integrate because theres always some gremlin kind of hiding in the works that youre going to find. 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. June 12, 2022 . 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. Ckg1 Ckp1 - Ckg1a63-100 At college in the UK, Ive had like multiple [00:58] renting apartments. 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. 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. Anthemos Georgiades On Building A Marketplace That Helps Millions of Yeah. Im so glad I did it. I think if you set these expectations from the very beginning that are super important. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. Its a Greek name, British accent. Anthemos Georgiades is the co-founder and CEO of Zumper. And investors love that story because its easy to believe that you can continue to do that. I mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. 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. So you acquire not long ago Pat Mapper and how did this come together? Alejandro: Of course and I agree with you there, Anthemos. 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? Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? It was like $46 million. Anthemos Georgiades | Multifamily Executive Magazine No. I mean your job moves from doing jobs in the first few years. They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. 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. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. Vishal Makhijani President & COO. For every successful fundraise, every single company have a lot of nos. 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]. Its just part of the game and it doesnt [24:30]. Yeah, sure. Taylor Glass-Moore Co-Founder. Anthemos Paul Georgiades has been associated with one company, according to public records. So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. 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. 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. Im the CEO and Ive always felt that it was my responsibility to do the fundraising. And as you know as and your listeners know, youre going to get a lot of nos on the way. Hes raising money now. Thats quite motivating for people. 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. 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. Anthemos Georgiades: Yeah, sure. 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. Like many of our most successful entrepreneurs. I mean I think at seed round its like an [26:02]. So I guess how did that consulting experience shape up your approach in terms of like tackling problems and the entrepreneurial journey itself? Not really actually. 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. Anthemos Georgiades CEO and co-founder. 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. Alejandro: Got it. Anthemos Georgiades: Yeah. Likewise. How do you take a company with those tractions, 10 million in revenue. 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? 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? It has to be me and thats how I started the company six years ago after business school. I was just talking to a friend of mine about this. 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. anthemos georgiades net worth Anthemos Georgiades - Quora Make sure tenants understand why things are . And so back to your point, yes, we want investors who are supportive of the fact that we didnt try to monetize the platform for the first three years because it would have created a barrier to entry. Anthemos Georgiades is the CEO and co-founder at Zumper. When people ask me what Im most nervous about its how to keep our amazing team together, a couple of tactics and then one thing that really worked. And so I didnt really think about it too often because this is kind of 15 years ago but then I moved to another six or seven times into an apartment rentals in London, in Boston, in New York and the process is so bad every time, not just in searching but also in actually like getting the apartment. So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. Anthemos Georgiades: Yeah, I think its probably the DNA of your culture is I think a lot of it is built in the tough times. 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. He was with HBS 10 years ago. How Zumper founder created software to solve the pain of apartment Youre supposed to try six things that dont work. Over time, its great to be able to bring in your team. And so I wouldnt be too pressured. 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. And the biggest change in the series C I just raised versus in the early days is having a CFO. Got it. It was incredibly difficult. He's raised $39.2 million in venture capital, grown the team to 70+, and completed the acquisition of apartment search platform PadMapper. Township Of Ocean Police Department. 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. 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. anthemos georgiades net worthperpetual futures binance. Absolutely. We both had ideas to be entrepreneurs but neither of us have the guts to actually go for it. 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. 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. Budget in my opinion perhaps should be allocated to something else. So seed, series A, series B, series C, I was always the point person in the fundraise. 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. Were incredibly grateful for everything she did and she remains kind of shareholder in the company. For me, its Zumper, an apartment rental platform. Had worked at the Boston Consulting Group. Well, first of all, your point about quashing the egg and shooting the chicken. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. 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? 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. 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.