Co-founders Jerry Guo and Michael Waxman like to joke that Grouper is a Y Combinator-funded startup. That’s because they didn’t come up with the idea for Grouper–a social service that sets you and two friends up with three strangers based on your Facebook profile–until they got rejected from YC. “We took our $400 travel reimbursement check from YC and used that as seed capital for Grouper,” Mr. Guo told Betabeat via gChat.
Does that mean Grouper is a pivot?? “Lol,” he wrote, “It’s a completely new concept. We applied to YC with paperbuff.com. In the 36 hours before our interview, we ditched paperbuff and built qomments.com, were rejected, then decided to build a product people would actually want (*measured by charging for it).”
Indeed, Grouper, which just launched out of beta in New York today, was profitable after just 60 days. Read More