Michael Seibel is 33 years old and has lived and worked in the Bay Area for the past 8 years, currently serving as CEO of YC Core, which has been called "the world's most powerful start-up incubator" by Fast Company.
Previously, Michael was co-founder and CEO of Justin.tv from 2007 - 2011 and co-founder and CEO of Socialcam in 2012. During 2012, Socialcam participated in Y Combinator, raised angel financing from a group of amazing investors, and sold to Autodesk Inc. for $60m (link). In 2014 Justin.tv became Twitch Interactive and under the leadership of Emmett Shear and Kevin Lin sold to Amazon for $970m. Before getting into tech, Michael spent a year as the finance director for a US Senate campaign after graduated from Yale University with a degree in political science.
In part 2 of the episode we chat about:
- How keeping a startup lean and achieving profitability creates options
- Splitting Justin TV into separate companies (Twitch, SocialCam)
- Successfully selling 3-person company SocialCam for $60M in less than a year
- The 3 magic ingredients of YCompbinator and the importance of Demo Day
- The key to successfully founding companies with friends
- How making significant money via a successful exit changes things