British teenage computer whiz strikes deal with YahooThe Associated Press | March 27,2013LONDON — One of Britain’s youngest Internet entrepreneurs has hit the jackpot after selling his top-selling mobile application Summly to search giant Yahoo.
Seventeen-year-old Nick d’Aloisio, who dreamed up the idea for the content-shortening program when he was studying for his exams, said he was surprised by the deal. As with its other recent acquisitions, Yahoo didn’t disclose how much it is paying for Summly, although British newspapers suggested the deal’s value at several million dollars.
“I would have never imagined being in this position so suddenly,” he wrote on his website, before thanking his family, his school — and his venture capitalist backer Li Ka-Shing — for supporting him.
Summly works by condensing content so readers can scroll through more information more quickly — useful for the small screens of smartphones.
The deal announced Monday is Yahoo’s fifth small acquisition in the past five months. All of them have been part of CEO Marissa Mayer’s effort to attract more engineers with expertise in building services for smartphones and tablet computers, an increasingly important area of technology that she believes the Internet company had been neglecting.
Although the Yahoo acquisition won’t close until later this spring, D’Aloisio said the Summly will no longer be available. Summly’s technology will return in other Yahoo products, he said.
D’Aloisio will work for Yahoo in its London office — in part so that he can complete his high school exams. Two other Summly workers will join Yahoo at its Sunnyvale, California, headquarters.
D’Aloisio is younger than Yahoo, which was incorporated in March 1995.MORE IN Wire NewsWASHINGTON — House Republicans unveiled a slimmed-down bill Tuesday to address the immigration... Full StoryNEW YORK — When it comes to preventing the spread of germs, maybe the president is on to... Full Story
- Most Popular
- Most Emailed
- TODAY'S WEATHER MINUTE: Seals have figured out fish they like to eat gather in schools around turbines in offshore wind farms. But the environment is not without hazards, maintenance vessels and noise pollution.
- RICHARD'S POOR ALMANACK: Teamsters leader Jimmy Hoffa disappears on this day in 1975, on this day in 2003, the last Volkswagen Type I, the Beetle, rolls off the assembly line in Mexico, Nelson Mandela on the primacy of teaching love over hate.
- TOMORROW'S HEADLINES TODAY: Vermont Yankee announces final day of nuclear power generation in Vermont, storm brings floods back to Chester, Castleton town manager to resign office, chronic offender sentenced to 25 years for sexual assault.
- TODAY'S WEATHER MINUTE: Rutland Herald content editor Rich Alcott shares local weather information and easily digestible news tidbits: Archaeologists find a leather shoe in a cave in Armenia that predates the Pyramids by more than a thousand years.
- RICHARD'S POOR ALMANACK: On this day in 1932, President Hoover orders the Army to evict bonus marchers from Anacostia Flats; author Malcolm Lowry born this day, as is Jackie Kennedy and Mike Bloomfield; Stephen Crane on consuming one's own heart.
- TODAY'S WEATHER MINUTE: Rutland Herald content editor Rich Alcott shares local weather information and easily digestible news tidbits: Earth barely avoids being blasted by immense solar flare in 2012, astrophysicists say next time might not be so lucky.