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Y Combinator interviews and selects two batches of companies per year. The companies receive a total of $500,000 in seed money as well as advice and connections. The $500,000 in funding is made up of $125,000 on a post-money SAFE in return for 7% equity and $375,000 on an uncapped SAFE with a "most favored nation" ("MFN") provision (i.e.: "we get the same best terms you give anyone else in the ...
Garry Tan (Chinese: 陳嘉興; Pe̍h-ōe-jī: Tân Ka-heng; born 1981) is an American venture capitalist and executive who is the CEO of Y Combinator [1] and a founder of Initialized Capital. [2] He previously co-founded Posterous and Posthaven. [3] He was an early employee at Palantir Technologies, and previously a partner at Y Combinator. [4]
Y Combinator released the Simple Agreement for Future Equity ("SAFE") investment instrument as an alternative to convertible debt in late 2013. [4] It was written by Carolynn Levy. This investment vehicle has since become popular in the U.S., Canada, [5] and Israel, due to its simplicity and low transaction costs.
Ever since Garry Tan came on as Y Combinator CEO last year, there have been changes. Last March, Tan cut its late-stage investing and laid off 17 investors, and he shrank the size of YC’s ...
In a message posted to its internal communications channel earlier this week, the massive startup accelerator Y Combinator said it will change the terms of its own PPP (the YC pro rata investment ...
As the week closed out, we had a big SPAC deal drop that I have yet to fully unpack — though I will note that its investor presentation includes a slide of global leaders’ headshots, which is ...
In 2012, in collaboration with Wilson Sonsini Goodrich Rosati, Ressi and the Founder Institute released "Convertible Equity", [14] a financing vehicle that provides all of the flexibility of convertible debt without hindering a company with loans. Convertible Equity was given by Ressi to attorneys at Y Combinator and was renamed the SAFE Note. [15]
In addition, Founders Pledge has launched partnerships with organisations including Y Combinator, [12] MassChallenge, and Forward Partners. [13] In September 2016, Sam Altman , president of Y Combinator, wrote on the Y Combinator blog: "Many of our founders ask us about how they can donate part of their equity or post exit proceeds, and now we ...