Alejandro: Got it. So seed, series A, series B, series C, I was always the point person in the fundraise. Were growing very quickly but none of that was true obviously in the first two years. 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. Well, Anthemos, it has been a pleasure to have you on the show. 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? You just cant get spooked. Youre supposed to try six things that dont work. I say like in the first pitch to the day the money wires, theres always been around like a minimum of three months. 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. You just cant get spooked. Anthemos Georgiades: Yes, weve raised $90 million in capital including a series C that we just closed three months ago. Obviously they knew and I think for us it was like telling Axle and the rest of our investors that there are going to be months where we massively beat plans and there will be months where were behind plans. It was incredibly difficult. A lot of business schools was how to make decisions with imperfect information. I was just talking to a friend of mine about this. Anthemos Georgiades: Yeah. So in terms of timeline, you were mentioning that the C round, you guys closed this 46 million a couple of months ago. I mean youre doing various jobs, head of sales, head of finance, head of fundraising, head of like DZ. Anthemos Paul Georgiades has been associated with one company, according to public records. 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. So I guess what was the timeline of this C round compared to perhaps your seed round of 2012? 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. I think just up front boundaries before you close the round is super important. Likewise. This show is about storytelling and all the elements that go into telling the perfect fundraising story. So I guess like I have one thing to follow up on this. I didnt think that either of them originally. 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. 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? 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. Alejandro: So I guess in just to like follow up on that, what in your mind and obviously in what youve seen creates really that magical relationship between cofounders? Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. See How I Can Help You With Your Fundraising Efforts. Absolutely. So I as British person moving to Silicon Valley in 2012 I have never run a startup before. 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. Georgiades founded Zumper after his own . 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. Over time, its great to be able to bring in your team. It is ultimately the culture. I mean your job moves from doing jobs in the first few years. Absolutely. Got it. Anthemos Georgiades: Yeah. It just really helps to divide and conquer like that while I was meeting new investors again. And so as you mature you look for a different kind of investor and that naturally tends to happen. You know its interesting that you mentioned the chicken and the egg. 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. Saying that, in the early days you kind of need to bring on all the capital that you can. Alejandro: So I guess like I have one thing to follow up on this. Now my cofounders were phenomenal in bringing them to meetings. 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? You can filter down by city and . One is I wouldnt be too pressured about it too early. So what is the best way, Anthemos, for people that are listening to reach out and say hi? Absolutely. How does the day to day at Zumper work? And so as you mature you look for a different kind of investor and that naturally tends to happen. Hes raising money now. Anthemos Georgiades: Oh yeah, on the seed round back in 2012, we had probably five investors come in to the seed round so we kind of had five yeses who put in small checks. ! Budget in my opinion perhaps should be allocated to something else. So all good companies have multiple offers on the table. But oh we must have had like 20 persons or 20 people say not now or later. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash. Had worked at the Boston Consulting Group. So paradoxically, I dont think the core DNA of a companys culture is built at ski tracks or offsite. Yeah. 1. So I saw NEA, Kleiner Perkins, Graylog, Andreesen Horrowitz, just to name a few. 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. And your cap table I mean as I was reviewing I just felt as I was looking at the Oscars of Silicon Valley, the red carpet. It was incredibly difficult. We love our investors. It seemed crazy that the real estate industry wasnt moving towards on demand. Everyone filling gaps where they could and it [07:02] fulfilling gaps in to where youre skilled and so I think the most obvious thing to do for that is to hire people with very different skill sets to you that allows you to never really have awkward overlap and egos because everyone is kind of skilled at something very unique. I knew the CEO for a while. Since 2012, Anth has grown Zumper to over 100 employees and raised $90 million in venture capital for the company. 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? Originally from London, he has an MBA from Harvard Business School, MPhil from the University of Cambridge, and BA from the University of Oxford. I kind of looked through in Crunchbase which connections I have into which fund. 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. So Ill read it if anyone tweets anything interesting or if I can be helpful in anyway. 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. How autonomous can people be at the junior levels? But was drawn in to it just to solve a problem as I think so many entrepreneurs are. Im so glad I did it. In terms of investors, I guess two comments. The other large investor in this round [20:05] scale so once you have product market set, how do you scale that? So in the first two years, Zumper is now [07:52] $90 million in capital. Its a Greek name, British accent. 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? Anthemos Georgiades. 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. She was our original CPO and after the series A, she moved on to roller, another company and we promoted someone internally to CPO. Rental listing startup with more than 26 million users. Likewise. Zumper has 7 current employee profiles, including CEO and co-founder Anthemos Georgiades. Then behind the scenes, Zumper will close the transaction with the landlord and set the renter up with kind of rent payment. 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. The one unifying theme in every fundraising Ive run is momentum. Got it. 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. Zumper which is a little bigger in terms of audience now caters more to urban professionals moving within cities. Not really actually. So the majority of that is still in the bank but yeah, we raised money in capital [12:00]. Thats just part of the game. So you acquire not long ago Pat Mapper and how did this come together? Oh yeah, on the seed round back in 2012, we had probably five investors come in to the seed round so we kind of had five yeses who put in small checks. And were just a little earlier than obviously a public company so our gross is spikier. glendale, az police activity today; archer lodge middle school calendar. Yeah. So thats how Zumper got started. So the series B, weve done story now look at how quickly the renters are growing on the platform. 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. And so I finally just gave in and thought no one is going to build this. anthemos georgiades net worth; wedding max minghella wife; private beach airbnb california; antique english double barrel shotguns; tuscany faucet cartridge removal; primeweld cut 60 machine torch. Alejandro: So Im completely there with you. We didnt go that route because I have the network but if I didnt have the network and some people have the network and still do it, they are really good cheap in to getting scaled quickly. So what is the best way, Anthemos, for people that are listening to reach out and say hi? Anthemos Georgiades is the CEO and co-founder at Zumper. Budget in my opinion perhaps should be allocated to something else. 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. How many listings do we have on the site? In terms of the dynamics, I think in the early days, you kind of through osmosis graduate towards like the things that are important. They are the two ways that Zumper currently monetizes them and there are two folks that [11:35]. 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.