This decision came shortly after YC announced it would be moving its headquarters to San Francisco. In March 2019, YC announced Altman's transition from president of the company to a less hands-on role as Chairman of the Board, in order for him to focus on OpenAI. YC Research has thus far announced research on basic income, the future of computing, education, and building new cities. A week earlier, Altman had introduced Y Combinator Research, a non-profit research lab, and donated $10 million to fund it. In October 2015, Altman announced YC Continuity, a $700 million equity fund investing in YC companies as they matured. He also tried to expand the types of companies funded by YC, especially "hard technology" companies. Īltman said that he hoped to expand Y Combinator to fund 1,000 new companies per year. In September 2016, Altman announced his expanded role as president of YC Group, which included Y Combinator and other units. In a 2014 blog post, Altman said that the total valuation of Y Combinator companies had surpassed $65 billion, including Airbnb, Dropbox, Zenefits, and Stripe. In February 2014, Altman was named president of Y Combinator by its co-founder, Paul Graham. Y Combinator Īltman became a partner at Y Combinator in 2011, initially working there on a part-time basis.
In 2012, it was acquired by the Green Dot Corporation for $43.4 million.
As CEO, Altman raised more than $30 million in venture capital for the company however Loopt failed to gain traction with enough users. In 2005, at the age of 19, Altman co-founded Loopt, a location-based social networking mobile application. In 2005, after one year at Stanford University studying computer science, he dropped out without earning a bachelor's degree. He received his first computer at the age of eight. He was the president of Y Combinator and was briefly the CEO of Reddit.Īltman is Jewish, and grew up in St. He was the co-founder of Loopt and is the current CEO of OpenAI. Samuel Harris Altman ( / ˈ ɔː l t m ə n/ AWLT-mən born 1985) is an American entrepreneur, investor, and programmer.
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