Coinbase And OpenSea Make It To The Top Of Y Combinator's Breakthrough Companies
Y Combinator (YC) is a startup incubator launched in 2005 in the US. To date, Y Combinator has invested in more than 3,500 companies. YC companies have an aggregate valuation of nearly $1 billion.
As reported on August 23, Y Combinator has released its list of Breakthrough Companies for August 2022.
The list includes 40 private enterprises in 8 service industries, such as Software and B2B services; Health care; Education; Serving consumers; Financial technology; Real estate and construction; Industry; Government. Conditions to appear on the list are private businesses that have been invested by YC with a valuation of $150 million as of July 31, 2022.
Notably, Coinbase exchange and NFT marketplace OpenSea ranked 4th and 5th respectively in YC’s Breakthrough Companies list. Previously, Coinbase was valued at the time of its IPO at $86 billion, with the closing price of COIN stock at $328.2. In January 2022, OpenSea was valued at $13.3 billion after a $300 million Series C funding round.
Y Combinator is considered by the startup community as the most prominent startup support company in the US. Not only famous in the US, but the investment arm of the fund also reaches out to other countries. Usually, the company will organize short-term programs to select startups, an average of 3 months. If the deal is completed, startups are typically invested from $500,000.
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