Friday, 29 March 2013

Yahoo paid $ 30 million to a boy for the new app Summly

Nick D'Aloisio was 15 years old when he began to develop Summly, an iOS application which summarized the news using a computer algorithm digging into thousands of sources. Two years later, the Australian-born British sold his startup to U.S. portal Yahoo. Yahoo bought the Summly technology for $ 30 million (90% cash and 10% in shares of YHOO, according to AllThingsD). The portal will remove the application from the Appstore and hire Nick, who became the youngest employee of the company. During the two years of his hard work, the startup was successful in raising early 1.53 million from investors like Ashton Kutcher, Yoko Ono and Horizons Ventures.

Technology news aggregation of Summly will be integrated into mobile services of Yahoo. As mentioned Kara Swisher, the fashion is for mobile apps news: CNN has paid $ 20 million for 2011 and Linkedin Zite is doing the acquisition of Pulse for 50 million. It is not known how the young entrepreneur will touch on minor $ 30 million, but according to the Guardian, he said he was going to buy a new computer and new sneakers. Apparently the boy was already ahead of everyone when he was a child. He began to use the computer and making films at the age of 9 years, and then 12 years old, he started programming. His parents had bought the language "C #" for Dummies. And if the young prodigy was Yahoo to reborn in recent years, as did Apple with Steve Jobs when he returned?

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