Thursday, January 22, 2009

Y Combinator Bails On Cambridge, Moves to Palo Alto

High profile seed funding effort YCombinator is abandoning Cambridge, Massachusetts, location in favor of a full-time presence in Palo Alto, according to the firm's founder, Paul Graham. According to Y Combinator, as of this summer, it will be based in Silicon Valley year-round, instead of alternating between the Valley and Cambridge. Graham explained the move had "nothing to do with startups," saying instead that he made the choice of locating in Palo Alto because his wife is expecting their first child. In a post, Graham said that "I think it will be better for the startups we fund to all be in the Valley," further explaining that "Boston just doesn't have the startup culture that the Valley does."