Not particularly. What's odd about it?

It's slightly more complex than desirable for good writing, but it's certainly well within normal bounds for size, especially for news articles. News articles do that sort of thing a lot.

Increasingly famous just seems like an odd thing to use to describe YCombinator in the lead of a news story, out of all the things the writer could use to add context.

YCombinator is "famous"?

Yep, YCombinator is famous. It's been featured in many mainstream publications, it's known around the globe in pretty much every country that has a startup community. I'd call that famous.