Wednesday, May 11, 2011
Y Combinator Accepts Record 60+ New Startups For Summer 2011
Y Combinator just gets bigger and bigger. They invest in batches, twice a year. The last batch had 44 startups, an all time high. But that record is about to be shattered - they've accepted 60+ startups for the Summer 2011 batch. Since 2005 Y Combinator has invested in 313 startups, including this most recent batch. They have six partners to manage all of these investments, with three of those partners focused on giving product guidance. The Summer 2010 batch was "just" 36 companies, although that felt like a lot at the time. But with the continued success of a lot of these startups, more applications come in (Y Combinator hightlights Loopt, Reddit, Clustrix, Wufoo, Scribd, Xobni, Weebly, Songkick, Disqus, Dropbox, ZumoDrive, Justin.tv, Heroku, Posterous, Airbnb, Heyzap, Cloudkick, DailyBooth, WePay, and Bump on their home page). And the $150,000 convertible debt offerings to every Y Combinator startup from Start Fund in the last class don't hurt, either. None of Y Combinators competitors have anything like that to offer new entrepreneurs.