Y Combinator alumnus, Reddit co-founder Alexis Ohanian, returns as partner

Above: Alexis Ohanian

There’s a new partner at startup ranch Y Combinator.

He’s Reddit co-founder Alexis Ohanian, who was also involved in getting travel site Hipmunk and social enterprise Breadpig off the ground.

Ohanian started San Francisco-based Reddit in 2005 with Steve Huffman (also a Hipmunk co-founder) and was later joined by Christopher Slowe and the late Aaron Swartz.

Y Combinator, also started in 2005, offers seed funding to early stage startups, for which it takes a small amount of equity. Twice annually, it divides $120,000 among a number of startups, which it says most recently was 68. In this fashion, the organization has funded more than 700 startups over its lifespan. On occasion, Y Combinator has also taken a role in later-stage companies.

The infant startups work with the Silicon Valley-based Y Combinator for three months to get their pitch in shape for bigger bucks. The Y Combinator network then continues to guide the growing companies.

Reddit is a Y Cominator alumnus, as are Airbnb, Docker, Discus, Scribd, and Loopt.

Via: Re/code.

More information:

Y Combinator is a venture fund which focuses on seed investments to startup companies. It offers financing as well as business consulting along with other opportunities to 2-4 person companies looking to take an idea to a product. Y Co... read more »

Reddit is a source for what's new and popular on the web. Users like you provide all of the content and decide, through voting, what's good () and what's junk (). Links that receive community approval bubble up towards #1, so the fro... read more »

Powered by VBProfiles

Mobile developer or publisher? VentureBeat is studying mobile app analytics. Fill out our 5-minute survey, and we'll share the data with you.