When I first saw Divvyshot (YC09?) I thought that it was more of a feature than a startup. And I guess I was kind of right because Facebook eventually bought the company - the incredibly talented company led by Sam Odio.

I'm sure that if Facebook hadn't bought Divvyshot but had instead tried to replicate the feature set on their own that the company would still be in existence though maybe working on a different product.

The investment would still have been worthwhile in terms of YC - perhaps even more so because the founders had shown the ability to identify an opportunity and actually built it.