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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