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25/03/2013
UK Teen Sells App For 'Dozens Of Millions'
A UK teenager has sold an app he created to Yahoo for an undisclosed sum, thought to be “dozens of millions”.
17-year-old Nick D’Aloisio created the app Summly, which summarizes news stories from popular media companies.
He launched the app when he was just 15 and soon attracted more than £1m of investment.
Neither company would disclose the terms of the deal publicly.
The app itself will now close, but its features will be used in mobile products at Yahoo, where Mr D'Aloisio has been given a job.
He will be joined by several of Summly's "top staff" in new roles at Yahoo in the next few weeks.
Mr D'Aloisio is now likely to be one of the world's youngest self-made multi-millionaires.
(H)
17-year-old Nick D’Aloisio created the app Summly, which summarizes news stories from popular media companies.
He launched the app when he was just 15 and soon attracted more than £1m of investment.
Neither company would disclose the terms of the deal publicly.
The app itself will now close, but its features will be used in mobile products at Yahoo, where Mr D'Aloisio has been given a job.
He will be joined by several of Summly's "top staff" in new roles at Yahoo in the next few weeks.
Mr D'Aloisio is now likely to be one of the world's youngest self-made multi-millionaires.
(H)
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