• British teenage computer whiz strikes deal with Yahoo
    The Associated Press | March 27,2013
    • Email Article
    •  
    •  Print Article
     
    LONDON — 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.
    • Email Article
    •  
    •  Print Article
    2 Comments
    MORE IN Wire News
    NEW YORK — The Dow Jones industrial average and Standard & Poor’s 500 indexes soared to their... Full Story
    A broad rally drives Dow, S&P 500 indexes to record highs
    WASHINGTON — Repealing President Barack Obama’s health care law without a replacement risks... Full Story
    Study: ‘Obamacare’ repeal-only would make 30M uninsured
    WASHINGTON — Senators questioning the logic of a proposed merger between AT&T and Time Warner... Full Story
    Innovation or monopoly? Panel looks at AT&T-Time Warner deal
    More Articles
  •