The site was created by Paul Graham in February 2007. It developed as a project of his company Y Combinator, functioning as a real-world application of the Arc programming language which Graham co-developed.
Hacker News serves as a tie that binds startups from all over the country. In addition to being able to post news, members can also post job openings for their startups.
Hacker News is highly respected by the tech startup community, and breaking news often hits this forum before mainstream media.