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Does YC usually only accept new (i.e. early stage startup) companies? We've been online for almost 8 years now, and we have a new product we're really excited

by jamroom 16y ago

Does YC usually only accept new (i.e. early stage startup) companies? We've been online for almost 8 years now, and we have a new product we're really excited about. We already have demo code for the new product, not to mention an existing product that we've been selling since we started. So for us, the mentoring and feedback from other founders and YC would be invaluable, much more so then any investment (we're already self funded). Just curious if there is anyone that has gone through YC with an established company, and how that worked out for you. Thanks!

hugh3 16y ago
If you have a company which has been established for eight years, do you really want to give up six percent of it just to get a bit of advice?
- jonathanjaeger 16y ago
  Eight years seems like a bit much, but if they're shifting focus or going through a new phase, I think they could benefit more than just with "a bit of advice."
  - jamroom 16y ago
    Yes - we're developing a new product in a related area (that we can target to our existing customers), but it's really an entirely new direction for us, and really could easily be the start of a "new" company.
    - SwellJoe 16y ago
      Then start a new company. Eight years without going anywhere worth speaking of is time to call it quits, if what you want is a startup. Don't let old mistakes hold you back. I shutdown a seven year old business after its most profitable year in existence in order to start Virtualmin, because I made a rational assessment of where things were going and could see very clearly that the previous business would never be the business I wanted it to be, and because it had such a long, slow-climb, history, raising money for it or bringing in new partners would have been a challenge that new startups don't face. Unproven is better than "proven to grow slowly" for investors and entrepreneurs.
- jamroom 16y ago
  I hear you - at this point, 6 percent wouldn't be a whole lot though. We've been operating (mostly) profitably for a long time, but nothing to brag about. I'm just curious if anyone has done it before, and how it worked out.
- pclark 16y ago
  I think calling the Y Combinator experience "a bit of advice" is doing it an injustice ... :)

by jamroom 16y ago

hugh3 16y ago

If you have a company which has been established for eight years, do you really want to give up six percent of it just to get a bit of advice?

jonathanjaeger 16y ago
Eight years seems like a bit much, but if they're shifting focus or going through a new phase, I think they could benefit more than just with "a bit of advice."
- jamroom 16y ago
  Yes - we're developing a new product in a related area (that we can target to our existing customers), but it's really an entirely new direction for us, and really could easily be the start of a "new" company.
  - SwellJoe 16y ago
    Then start a new company. Eight years without going anywhere worth speaking of is time to call it quits, if what you want is a startup. Don't let old mistakes hold you back. I shutdown a seven year old business after its most profitable year in existence in order to start Virtualmin, because I made a rational assessment of where things were going and could see very clearly that the previous business would never be the business I wanted it to be, and because it had such a long, slow-climb, history, raising money for it or bringing in new partners would have been a challenge that new startups don't face. Unproven is better than "proven to grow slowly" for investors and entrepreneurs.
jamroom 16y ago
I hear you - at this point, 6 percent wouldn't be a whole lot though. We've been operating (mostly) profitably for a long time, but nothing to brag about. I'm just curious if anyone has done it before, and how it worked out.
pclark 16y ago
I think calling the Y Combinator experience "a bit of advice" is doing it an injustice ... :)