Yes, we applied to Y Combinator's Winter 2011 found program. We did that and we were super excited about the chance of being funded by YC, not only because of the money (that would be handy to allow us to really work exclusively on this for a while) but we were really thrilled with the possibility of get to know people that would possibly be interested in our service and in helping us out.
During the time from sending the application - which we did in October, 07th - and the awaited reply day - November 02nd - we were pretty anxious. We did plans, we discuss what would be our pitch, we read that if you are not from Silicon Valley or if you don't have a Harvard/MIT or other 'strong' University in your background you have no chances and decided not to worry about that cause our idea was awesome... and yes, honestly, we really believed we would have a chance.
So in the anxiously awaited November 02 we received the rejection email from YC stating in some almost friendly words that we were not picked...that they didn't like our project that much to fund it.
First reaction? Sadness, frustration and a thousand different thoughts going through your head. Second reaction? Get some whiskey shots...
You first think that you were not chosen because you are from Brazil, far away from Silicon Valley. Then you think no, that is not it, everyone seem to love Eduardo Saverin - the Brazilian guy from Facebook, so the fact that you are from Brazil is not why you were not chosen. So you think that this happen because the University you got your degree is not even among the best ones in Brazil, so you are not even close to be recognized in the US as a 'smart one'.
After all that, you think that the idea may not be as good for other people as it is for you... but then you realize that again that is not the case. You did some research, you put you heart, effort and knowledge into this, you worked you a** off to put the service together because you do believe in the idea.
So what went wrong? Not sure... just know that as we have our great idea, many other people have their great ideas and in this particular case their ideas were better to YC.
After recovering from the 'sadness, frustration and a thousand different thoughts going through your head' moment you decide to forget about the whole 'YC rejection' and get even stronger to go on, because now you need to show YC and many other people that you idea is worth it.
So now we are in the final adjustments to launch the Beta version of Mentaway... we know that we still have some milestone to cover, but with or without YC, here we go. ;)
If you really believe in your idea, go for it, keep focused and go on with your hard work. Don't give up on it because you don't get the support you waited for.