My understanding was that it was always common stock. I believe this is the agreement: http://ycombinator.com/documents/YC_CSPA.docx http://ycombinator.com/doc

My understanding was that it was always common stock. I believe this is the agreement: http://ycombinator.com/documents/YC_CSPA.docx http://ycombinator.com/documents/YC_CSPA.docx