All photos courtesy of Forbes Councils members. Anthemos Georgiades: Hey, thanks for having me. I mean I called it like a cheat [33:33] my team. Just enter your email below. Remember to unlock for free the pitch deck template that is being used by founders around the world to raise millions below. Rear mounted 3" standard exhaust port, and 2" standard air intake Exterior dimensions of unit are 24" wide, 26" deep, and 40" high with mounted controller. Yeah. I knew the CEO for a while. 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. 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. And were just a little earlier than obviously a public company so our gross is spikier. 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? So for Zumper our vision as I mentioned was to make renting an apartment as easy as booking a hotel and so instead of going in with just an idea, I built like a really crappy version of the end game that I wanted to build. For every successful fundraise, every single company have a lot of nos. Really good strategy to differentiate the demographics and were super happy with how it went down. We both wanted to be entrepreneurs. Had worked at the Boston Consulting Group. rex harrison audrey hepburn relationship. Since 2012, Georgiades has grown Zumper to over 200 employees, 178 million annual visits, and raised $178 million in venture capital for the company. 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. A lot of business schools was how to make decisions with imperfect information. So we want to be the first ever kind of full stack rental platform for long term leases and we monetize that two ways. 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. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. You just get to this kind of motion of you all feel the same and you kind of pull in the same direction. Pat Mapper caters to 25 and under and kind of big college populations. 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. So Im completely there with you. So I guess like I have one thing to follow up on this. Got it. So I guess for a marketplace or lets say for the people that are listening to us like what kind of metrics do you think for the most part if were talking about hyper growth companies, like they should be a little bit more mindful about? Yeah. Yeah. He was with HBS 10 years ago. How much respect is there? Saying that, I have connections through both business school and previous people that have gone through BCG venture capital and most of your listeners and entrepreneurs will know so much of this is about like getting warm introductions to VCs so I did have a couple of cheats to get in through the network or through the BCG network. So Id say your first month you spend like getting first, second, third meeting. 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 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. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and. 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. Anthemos Georgiades: Yes, weve raised $90 million in capital including a series C that we just closed three months ago. So how did you meet your cofounders? So for the business, Anthemos, how much capital have you guys raised today? Got it. Absolutely. So the way we monetize this is we either monetize the landlord mainly and we either charge them to leads. It is ultimately the culture. I think Id say forget everything you think you know and everything, your education [38:28]. Alejandro: Got it. Terms & Conditions! Anthemos Georgiades: Yeah. 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. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. 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. In the first two or three years you will kill your marketplace if you create any barriers to entry from either side. So M&A are strategic [33:48]. 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. So I guess lets say we had the opportunity to put you in front of your younger self, Anthemos, in 2012 before you were to close that seed round, what would be that piece of advice that you would give to your younger self with everything that youve learned having this journey ahead of you? Anthemos Georgiades: Yeah. And for you I guess personally and professionally because I think they both come together, so how has your leadership and management skills changed over the time from leading the company of lets say four to ten folks initially to a company of over a hundred employees? 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Youll get terms sheets and yeses hopefully quicker than that but this process takes a while and as the money increases and a few rounds become more complicated, it can take more than three months as well. Thats just part of the game. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. In the early days, youre going to need to take all the capital you can get. 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. 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. Anthemos Georgiades: Yeah. Prior to his work at Zumper, Georgiades worked at the Boston . Got it. We envisioned a world in which a renter can find apartments, book in [tour 10:18], turn up the [10:21] and if they want to take the apartment pre-qualify, leave a deposit and book the apartment. So what is the best way, Anthemos, for people that are listening to reach out and say hi? Got it. How do you scale like 20 million in revenue to 200 million in revenue and we didnt need the more product set investors because we already have fantastic people at that. 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 All of it is going to be important and it will come out at the right stage. Yeah, sure. So the series B, weve done story now look at how quickly the renters are growing on the platform. Youre right that is wrong advice. 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. 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? 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. I kind of looked through in Crunchbase which connections I have into which fund. 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. I think if you hire four cofounders like yourself, thats difficult and luckily we didnt have that problem. Anthemos Georgiades: Yeah. 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. Its a Greek name, British accent. Of course. Got it. So seed, series A, series B, series C, I was always the point person in the fundraise. Rental listing startup with more than 26 million users. 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. This show is about storytelling and all the elements that go into telling the perfect fundraising story. Alejandro: Got it. And at one point I just told one I just feel like I want to step on the egg and shoot the chicken because it was so repetitive. Its a good question. Got it. So how did you meet your cofounders? Budget in my opinion perhaps should be allocated to something else. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. So strategically that was a good marriage where they had a great consumer brand and we have really fantastic supply side inventory. Yeah. So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. I have no experience doing that. So lets talk about Zumper here. 1.4.1 - Provisions of this Code Declared . But I will say the one thing is true is that you always raise on momentum. Look how quickly our revenue are scaling.