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Yahoo Pays $30 Million for Teenager's Summly App

Mar 26 2013, 8:14am CDT | by , in News | Technology News

Yahoo Pays $30 Million for Teenager's Summly App
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Yahoo! announced yesterday that it is acquiring Summly. The App was created by Nick D'Aloisio at the age of 15. Reportedly Yahoo! paid $30 million for the company of the now 17 year-old Nick D'Aloisio.

Yahoo! announced yesterday to buy Summly. Summly is an app that summarizes news. Now Bloomberg reports that a person familiar with the matter said that Yahoo! pays $30 million for Summly. This surprisingly high amount is mostly attributed to the long list of celebrity investors in Summly, which is amazing by itself.

According to Reuters Summly investors include Yoko Ono, Ashton Kutcher, Rupert Murdoch, Stephen Fry and Horizon Ventures.

Nick and the Summly team are joining Yahoo! in the coming weeks. While the Summly app will close, you will see the technology come to life throughout Yahoo!’s mobile experiences soon.

The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

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