Sam AltmanY CombinatorAnnouncement

Raises funding terms

22 Apr, 2014

Altman announces the company is increasing the amount it provides to approved startups. In return, it will take a slightly larger equity stake of 7%.

$97k was about right at the time, but the cost of living in the Bay Area has gone up substantially. So we’re increasing the total to $120k, which we hope is enough for the founders to run their business and pay their living expenses for at least six months, and sometimes longer.

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