Silicon Valley’s most famous startup accelerator has a lot of participants who have already done the program. Tech founders share why they rejoined Y Combinator even after launching successful startups.


Michael Seibel

Y Combinator, the famed startup accelerator founded by Silicon Valley icon Paul Graham, will host its first multi-day Demo Day in San Francisco on August 19 and 20.
With this year’s Demo Day, 150 founders have returned to Y Combinator at least once to launch a new startup, and the Summer 2019 batch includes 10 alumni.
Justin Kan leads the group with four separate stints at the accelerator, where he founded calendar app Kiko, streaming service Justin.TV that later turned into Twitch, on-demand business service provider Exec, and startup legal assistance company Atrium.
Michael Seibel, CEO of Y Combinator’s accelerator program, went through the accelerator as an entrepreneur twice before joining the company full-time.
Many founders who spoke with Business Insider said that going through Y Combinator a second time is especially lucrative for startups that create services for other startups because batch members are essentially built-in customers.
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It was March 2005. YouTube has just launched. Google unveiled a new product called Maps. “Selfie” had yet to truly enter the the popular lexicon. And English computer scientist Paul Graham welcomed the first group of entrepreneurs to Y Combinator.

In the 14 years since then, the renowned accelerator program has gone from hosting a handful of inspired entrepreneurs on meager living stipends to funding some of the biggest private startups in Silicon Valley.

Next week, Y Combinator will host another of its famous Demo Day events, during which entrepreneurs from the program’s Summer 2019 class pitch their products to some of the biggest venture capital investors. This year, for the first time in San Francisco, Y Combinator’s Demo Day will be two-day event taking place on August 19 and 20.

“That first Demo Day was just a bunch of Paul’s friends, not the luminaries of Silicon Valley investment that you have now,” Kiko Calendar and Justin.TV cofounder Emmett Shear told Business Insider. “I don’t think anyone raised money at that Demo Day even if they raised money later.”

Read More: New Y Combinator President Geoff Ralston explains why he’s so excited about investing in the youngest startups, and his philosophy for helping them to grow

This summer’s batch, as the cohort of entrepreneurs taking part in the 3-month program is lovingly referred to by YC alumni and investors, includes 10 founders that are giving the accelerator a second go. In the last 14 years, 150 entrepreneurs have returned to the program at least once to launch a new startup.

“YC is like a tool and the better you are at using tools, the more you can make out of it,” Y Combinator CEO Michael Seibel told Business Insider. “The first time you were doing it you were just kind of learning how things work. Having done YC, I thought it was more educational, and you don’t feel like you have to go get a degree again. When I thought of it as a tool, suddenly everything clicked.”

Before leading …read more

Source:: Businessinsider – Finance

      

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