Sequoia Capital Invests $2 Million Into Y-Combinator
Paul Graham has made the VCs open their wallets once again. Y-Combinator has raised $2 million from Sequoia Capital and several other angel investors. Up until now, only Paul Graham, Robert Morris, Jessica Livingston, and Trevor Blackwell were the sole investors in Y-Combinator companies.
Through this round of funding, Y-Combinator will open a new investment arm. Y-Combinator will also be able to increase the number of companies that they invest in ever year. They wil go from about 40 companies per year to 60. Y-Combinator invests about $15,000 per startup. Before Y-Combinator invested about $5,000 for 6% equity in the company and provided startups with office space and other resources.
Some of the companies to come out of Y-Combinator include Snipd, heysan!, Weebly, Addmired, Justin.TV, Tipjoy, Songkick, Disqus, Dropbox, Anywhere.FM, Loopt, Scribd, Xobni, Reddit, and Omnisio.
Greg McAdoo of Sequoia led the investment. Some of the angels that joined in the investment include Ron Conway, Paul Buchheit, and Aydin Senkut.
[via VentureBeat]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry