I think it definitely makes you stand-out. Like we all know, it's extremely hard to get into Facebook or the other hot shot big companies and it adds a lot of value to your resume.
That being said, I am a huge fan of small companies and absolutely adore the start-up culture. Also, nothing carries more weight in the Silicon Valley than having been a part of a start-up that has made it big or if even if the start-up crashed, the battle scars you've had in the process makes the industry like you even more.