Yes. In my experience, they will. People who hired me (or offered to do so) told me, directly, that having this experience was a competitive advantage in their eyes.
It's one thing to hire just a developer. It's another thing to hire a developer who knows first-hand what's it like to run a startup, what's important for management and what concerns do they have.
It might be a competitive advantage relative to a random, older company that isn't well-respected in the tech industry, but compared to working at an Amagoobooksoft, I think you'd be at a disadvantage.
Google or Facebook — may be, they're known for their exceptional engineer culture. But Amazon and other beurocracy-heavy companies with manager-oriented culture look like a disadvantage in the CV to me.
