17-Year-Old Sells Mobile News App To Yahoo For $30 Million, Report Says

Nick D'Alosio Summly YahooTwo years ago, a 15-year-old Brit named Nick D'Aloisio built a mobile news app which he called Summly. Sorting news by topics, the iPhone app then aggregates (and sums up) in bits ideal for the cell phone. Is that app worth $30 million? Yahoo thought so, according to All Things D.

On Monday, Yahoo announced that it bought Summly. While Yahoo didn't disclose the price, All Things Digital's Kara Swisher reports that Yahoo paid $30 million. D'Aloisio is just 17 years old.

D'Aloisio and his "team" will be joining Yahoo in a few weeks, but the app will be shut down, Yahoo said. The technology powering Summly will "come to life" through Yahoo's own mobile products, according to Mashable. The purchase was seen as part of Yahoo's attempts to reinvigorate itself.

According to news reports, D'Aloisio taught himself how to make an app. He first launched Trimit, which automatically trimmed news stories to 140 characters so that people could tweet it. Then he decided to turn that into an app which would summarize the news for users, and Summly was born. "We live in a world constant information and need new ways to simplify how we find stories," Yahoo's release says, calling Summly a "simple and elegant way to find the news you want."
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lenders1

And... he will make another another 50 mil. in the next 5 - 7 years!

March 27 2013 at 8:13 AM Report abuse rate up rate down Reply
robbhoek

You’ll be sorry. Remember what Obama said? For all their effort, anybody making over One Million will have to pay “Obama’s” fair share in taxes to pay for Obama’s freeloaders programs. That’s Obama’s revenge for his “dreams FROM my father” one has to pay for pursuing the American dream.

March 27 2013 at 1:45 AM Report abuse rate up rate down Reply
3 replies to robbhoek's comment
amlngn

And we have normal people that cant find a job, see what this sick fricking world fosters....paying 30 million to a kid, unreal. Yahoo, is just like every other corporate entity, chasing after a golden goose rather than taking care of employees. Dontcha think 5 million would have been OK?

March 26 2013 at 10:48 PM Report abuse rate up rate down Reply
1 reply to amlngn's comment
GOBGOTZ

He turned down 20 million.

March 26 2013 at 11:08 PM Report abuse rate up rate down Reply
bduchock

Yahoo reminds me of AOL a few years back.

March 26 2013 at 8:54 PM Report abuse rate up rate down Reply
Jacqueline

Well done!!!

March 26 2013 at 6:54 PM Report abuse rate up rate down Reply
Janice

Good for him

March 26 2013 at 6:31 PM Report abuse rate up rate down Reply
Terry and Mandy

Buying good ideas from a small company by a larger company has always been the way of business. If the sale is good for the seller and good for the buyer, everybody wins.

March 26 2013 at 5:17 PM Report abuse rate up rate down Reply
Jann Dillon

SHort YAHOO... are you kidding me? Is this something new? Did anyone ever hear of the AP app.

March 26 2013 at 4:42 PM Report abuse rate up rate down Reply
fcmean

another shrewd move by soon-to-be ex CEO meyer.

March 26 2013 at 3:18 PM Report abuse rate up rate down Reply
Laurie

Cool. Good for you, kid. Here's hoping you enjoy what's left after taxes.

March 26 2013 at 2:58 PM Report abuse rate up rate down Reply
1 reply to Laurie's comment
Vic

I'll tell you what. give me thirty million dollars and will pay all the taxes due, no problem. Just a bunch of jealous people on this blog.

March 27 2013 at 3:24 AM Report abuse rate up rate down Reply

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