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Startup accelerator named , a co-founder at seed investment firm , its next CEO and president.

Tan will replace , who said in a he is leaving the role at the end of the year.

鈥淚 am leaving YC, but I鈥檓 not actually the retiring type and am looking forward to some to-be-discovered adventures,鈥� wrote Ralston, who has been with Y Combinator since 2011.

Tan is not new to Y Combinator. He co-founded , a blogging startup which was accepted into Y Combinator鈥檚 Summer 2008 program. In 2010, Tan joined the accelerator as a designer-in-residence and became an investor.

Just two years later Tan co-founded Initialized, which has an impressive list of early investments including , and .

Busy year

The announcement continues what has been a busy year for Y Combinator, whose portfolio is a who鈥檚 who of startup success stories such as and .

In May, the accelerator sent a letter to its portfolio companies warning them of the current venture pullback the industry is witnessing and the fact it may get worse.

鈥淣o one can predict how bad the economy will get, but things don鈥檛 look good, 鈥� YC wrote in the letter titled 鈥淓conomic Downturn.鈥�

鈥淭he safe move is to plan for the worst,鈥� the accelerator wrote.

Y Combinator will shrink the number of startups within its accelerator for its Summer 2022 batch, according to a report earlier this聽month. As first by , the summer class has nearly 250 companies, down 40% from the previous class which had 414 companies.

Related reading:

• Y Combinator Warns Startup Founders Of Economic Downturn: 鈥楶lan For The Worst鈥�
• Under The Hood: How Early-Stage Investor Initialized Spots Future Unicorns

Illustration: Dom Guzman