Y Combinator is a type of Limited Liability Company under Venture capital industry.
It is also an American seed fund that is founded in March 2005. Twice a year, Y Combinator invests a small amount of money in huge numbers of startups. Apart from this, Y Combinator provides advice, seed money and connections to startups in exchange for 7 percent equity.
Y Combinator move to Silicon Valley for three months and their partners work closely with every company to get them into the best possible shape and at the same time refine their pitch to investors. Every batch culminates in Demo Day especially when the startups present their companies to a selected audience of investors. As of the winter season of the year 2015, Y Combinator has invented in almost 840 companies that include Weebly, Instacart, Zenefits, Reddit, Stripe, Airbnb and Dropbox. The combined market capitalization of Y Combinator is lamost 30 billion dollars. Wired has called Y Combinator a boot camp for startups and the most prestigious program for budding digital entrepreneurs. The program consists of office hours where startup founders meet in groups and individually with Y Combinator partners for advice.
Aside from this, the founders also participate in weekly dinners where guests from the Silicon Valley ecosystem, venture capitalists and successful entrepreneurs speak to the founders. Furthermore, the program aims to focus the founders on working intensively on developing their market, team, product and at the same time refining their Business Model Canvas. The program culminates at Demo Day where startups present their business to a selected audience of investors.
The History of Y Combinator
Y Combinator was founded in the year 2005 by Paul Graham, Robert Morris, Trevor Blackwell and Jessica Livingston. From the year 2005 to 2008, one program was held in Cambridge, Massachusetts and the other one was held in Mountain View, California. In the year 2009, Y Combinator announced that the Cambridge program would be closed and all the future programs would take place in Silicon Valley. On the same year, Y Combinator partnered with Sequoia Capital and angel investors that include Aydin Senkut, Paul Buchheit and Ron Conway. In September 2013, Paul Graham announced Y Combinator would fund nonprofit organizations accepted into its program after having tested the concept with Watsi. In the year 2014, the founder of Y Combinator announced that he was stepping down and Sam Altmanwould take over as the new President of Y Combinator. On the same year, the new President announced “The New Deal” for startups which offer 120,000 dollars for seven percent equity. In February 2015, Sam Altman announced a partnership with Bolt and increased support for hardware companies.
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