There’s a new partner at startup ranch Y Combinator.
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.
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 compani... All Y Combinator news »
reddit was founded by Steve Huffman and Alexis Ohanian in 2005, and is an online community where users submit, vote, and comment on content, stories, and discussions. The hottest stories as ... All Reddit news »