Had worked at the Boston Consulting Group. "While many markets cool off during the winter, Miami is still posting month-over-month increases. A lot of that is in the bank. Your job as the CEO and the founder is to convince your investors of the reason to do this. Its a Greek name, British accent. Look how quickly our revenue are scaling. And the biggest change in the series C I just raised versus in the early days is having a CFO. I really enjoyed it and great stuff. Your job is to raise capital and your job is to kind of hire and retain the best talents. Just out of curiosity, Anthemos, like how many nos did you get for example on your seed round if you have to count it? Really good strategy to differentiate the demographics and were super happy with how it went down. 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. 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 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. We also actually had a really wonderful fourth cofounder whos no longer with us. 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. No. Retention is something I think about every day. 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. 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. But theres no right answer in business. And investors love that story because its easy to believe that you can continue to do that. 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. Alejandro: So I guess like I have one thing to follow up on this. 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. 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. 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 strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. Your third month is getting kind of diligence done and getting the wires in to the door. The one unifying theme in every fundraising Ive run is momentum. Its a good question. Background Report for Anthemos Paul Georgiades Includes Age, Location, Address History for Anthemos Paul Georgiades Arrest, Criminal, & Driving Records Social Media Profiles 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. Anthemos Georgiades: Yeah. Anthemos Georgiades is the co-founder and CEO of Zumper. 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. Really, really nice to have you here and excited for the chat that we have ahead here. 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 CEO and co-founder. Alejandro: Got it. In the early days we love the exposure to Silicon Valley investors. It just really helps to divide and conquer like that while I was meeting new investors again. But I guess you were saying then here the shift, kind of like shifted more from like growth of users perhaps retention to more kind of like deep revenue growth. There could be investors who are fantastic. 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 I guess like I have one thing to follow up on this. 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. 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 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. Got it. 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. Russell Middleton Co-Founder. How many listings do we have on the site? And as you know as and your listeners know, youre going to get a lot of nos on the way. Its just part of the game and it doesnt [24:30].
Anthemos Georgiades on Twitter: "77% of you were interested in a All of it is going to be important and it will come out at the right stage. All of it is going to be important and it will come out at the right stage. So one is weve always promoted within so whenever we needed a role, we always prefer to promote someone instead of hiring from outside. For us, I think they fully understand the entrepreneurial journey and were really excited to have them on board. I was really impressed when because its not hard, its almost impossible to land VC such as Kleiner Perkins on literally your first financing round, the seed round. Alejandro: Got it. I have no experience doing that. 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. 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. Thats your job. Pat Mapper caters to 25 and under and kind of big college populations. Anthemos Georgiades: Yeah. 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. I mean I called it like a cheat [33:33] my team. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. 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]. Got it. There was no book [01:41]. Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. 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. So it doesnt always work out and I think thats fine. 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?
anthemos georgiades net worth I think Id say forget everything you think you know and everything, your education [38:28]. In the early days, youre going to need to take all the capital you can get. Thats quite motivating for people. Of course and I agree with you there, Anthemos. 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. True to its reputation, Comfortbilt's HP22 pellet stove comes with a heating capacity of 50,000 BTU. Anthemos lives in San Francisco, where Zumper is HQd, with his wife. 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]. I grew up in London. Youre right that is wrong advice. A lot of that is in the bank. We want investors who look at $100 million in revenue as table stakes but they wont agree to a billion.
Anthemos Georgiades - San Francisco Business Times Meaning hey, we send you a ton of leads this month that close in to leases. So the series B, weve done story now look at how quickly the renters are growing on the platform. And even though that sounds so obvious six years later, people just werent doing this in 2011, 2012 and we created a bunch of data that overwhelming shows the renters wanted to be applying for apartments from their phone. Had worked in politics. You just get to this kind of motion of you all feel the same and you kind of pull in the same direction. Alejandro: Really, really nice to have you here and excited for the chat that we have ahead here. 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. 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. 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. 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. Hello, everyone, to the DealMakers Show. So I think three months is an efficient round. Its a good question. Of course. 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.