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For a separate project I've worked on (non-YC), we negotiated 50% off bandwidth and somewhat reduced server rates. You just need to ask for it.

Not sure what the YC deal is, but I assume it's similar.

I had a similar experience: with minimal negotiating we were able to get 50% off their initial quote. I also renegotiated our terms later within the contract period with relative ease.

They pad their pricing pretty heavily, so don't be afraid to ask.

Just reduced price hosting.

My guess is its a deal that won't be happening again? :-)

Can't speak for other YC companies (it may vary from batch to batch), but for us it was a generous rackspace cloud monthly credit for 12 months.