Yahoo has paid a reported $30 million for Summly, a newsreader app founded by 17-year-old programming prodigy Nick D’Aloisio. The move makes D’Aloisio, based in London, both an instant multimillionaire and Yahoo’s youngest employee. The Summly app, which delivers 400-character summaries of news stories, will be shut down, but the technology will soon appear in Yahoo’s mobile products, according to a post on the Yahoo blog from Adam Cahan, senior vice president of mobile and emerging products. At least 90 million summaries have been read on Summly since it launched last fall.
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Yahoo Pays Big for Teen Coding Whiz and His App
Posted by: Richard Adhikari March 26, 2013 03:21 PMYahoo has paid a reported $30 million for Summly, a newsreader app founded by 17-year-old programming prodigy Nick D’Aloisio. The move makes D’Aloisio, based in London, both an instant multimillionaire and Yahoo’s youngest employee. The Summly app, which delivers 400-character summaries of news stories, will be shut down, but the technology will soon appear in Yahoo’s mobile products, according to a post on the Yahoo blog from Adam Cahan, senior vice president of mobile and emerging products. At least 90 million summaries have been read on Summly since it launched last fall.