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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. Got it and before we actually dive in to the journey here, so consulting and. So I wouldnt be too picky early. But oh we must have had like 20 persons or 20 people say not now or later. Raising money first, marketplace businesses is still really difficult and Ive raised $90 million and Im still saying it is difficult. 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 we tell the small landlords, Hey, dont just advertise in Zumper. Yeah, sure. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. Russell Middleton Co-Founder. So it doesnt always work out and I think thats fine. Anthemos Georgiades Current Workplace Zumper Location 555 Montgomery St Ste 1300, San Francisco, California, 94111, United States Industry Information Collection & Delivery, Media & Internet Description Discover more about Zumper Anthemos Georgiades Work Experience and Education Work Experience Manager, Summer Investment Atomico 2009-2010 It happened but I wouldnt say its like an obvious part. So Anthemos, whats the business model here? If you want me to help you with your fundraising, just book a call. At scale you get to do that and have those teams. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. And it is the culture that keeps people here, not the compensation or anything else. Of course. Yeah. Anthemos Georgiades: Yeah. Now we have supply so the six months curve at the series B was all about users and millions of monthly users and then at the series C it was much more revenue curve. You always have more nos that more yeses in fundraising but it was ultimately about just hustling my network as much as possible. Pat Mapper caters to 25 and under and kind of big college populations. It is not suppose to be easy. Georgiades founded Zumper after his own . Alejandro: Of course. So I think three months is an efficient round. 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. In the early days, youre going to need to take all the capital you can get. So seed, series A, series B, series C, I was always the point person in the fundraise. So I guess how did that consulting experience shape up your approach in terms of like tackling problems and the entrepreneurial journey itself? 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. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. 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. 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. Im so glad I did it. Pat Mapper caters to 25 and under and kind of big college populations. 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 to be fair, some of these 20 did indeed come back later to invest but in Boston and I pitched all of the east coast investors first because I was on the east coast and they were straight nos. 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. what was the premier league called before; How many listings do we have on the site? Every company is completely different and theres no gold standard. 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. And the biggest change in the series C I just raised versus in the early days is having a CFO. Its so hard to get marketplaces liquidity so correct, the beautiful thing as you know is when you have it, it took us three years to get to that, it just runs and you just grow naturally when you have both sides but its so hard to get to it. Anthemos Georgiades: No. Saying that to your point, we see the deal was a successful and yet M&A is really hard to integrate. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion. Alrightee. So in the first two years, Zumper is now [07:52] $90 million in capital. In the early days we love the exposure to Silicon Valley investors. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. Got it. Anthemos Georgiades: Yeah. Anthemos Georgiades: Yeah. I kind of looked through in Crunchbase which connections I have into which fund. Youre exactly right. Were going to charge you per lead or for the smaller landlords we charge them if theyre [11:15] for the transaction. How does the day to day at Zumper work? 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. Anthemos Georgiades: Yeah. 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. So you acquire not long ago Pat Mapper and how did this come together? I think the startups end up wasting a lot of cash that could really extend runway but thats a different conversation. I think just up front boundaries before you close the round is super important. Hes raising money now. Your job is to raise capital and your job is to kind of hire and retain the best talents. 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. 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. And then as we looked at the C round, Axle Springer are fantastic good example [19:59]. At scale you get to do that and have those teams. I mean if you could give some kind of like tips you know both fronts it would be really fantastic. 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. 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: Its just part of the game and it doesnt [24:30]. In terms of investors, I guess two comments. How do you take a company with those tractions, 10 million in revenue. I really enjoyed it and great stuff. I love it. 77% of you were interested in a @zumper flex living pass 1.5 yrs ago Since then we - Added 500K+ flex listings - Launched a search UX for flex rentals We're now launching an MVP of Zumper Pass - a one & done subscription. 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 what is the best way, Anthemos, for people that are listening to reach out and say hi? Alejandro: Got it. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. Well, first of all, your point about quashing the egg and shooting the chicken. A lot of that is in the bank. We love our investors. 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. Its not about the ski trips and any of that you know. Please subscribe to unlock this content. I dont think theres a startup I could have launched that taught me more. 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. Got it. So that was great. 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. For every successful fundraise, every single company have a lot of nos. Its a good question. 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. 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. Make sure tenants understand why things are . He remains a huge Tottenham Hotspur fan, and wakes up painfully every Saturday morning to tune into the live English soccer games. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. I mean I think at seed round its like an [26:02]. 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. Saying that, in the early days you kind of need to bring on all the capital that you can. Anthemos Georgiades: Hey, thanks for having me. 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. Rocketreach finds email, phone & social media for 450M+ professionals. 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 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. How flat is the company? So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. I know entrepreneurs who spend nine months raising their rounds which is a long time but they got great rounds done. So we tell the small landlords, Hey, dont just advertise in Zumper. I was just talking to a friend of mine about this. 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. If you want me to do your fundraising for you, click here. 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. Not really actually. 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. Rental listing startup with more than 26 million users. "These markets had a huge net migration from New York and California, and they have held up," he says. Had worked in politics.