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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.

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