17-year-old’s Summily App Gets Bought by Yahoo! for $30 Million
Getting hired by Yahoo! might not be the ultimate dream of an iOS developer, but for 17-year-old Nick D’Aloisio, it’s probably going to be a pretty sweet gig, especially if this $30 million price tag is anywhere near accurate… The teenager got the attention of Yahoo! thanks to Summly, the news summary app he created a few years ago. As of now, the popular app is no longer available in the App Store, and that’s because Yahoo! plans to repackage its service into their own products. Here’s D’Aloisio on the development:
“I am delighted to announce Summly has signed an agreement with Yahoo!. Our vision is to simplify how we get information and we are thrilled to continue this mission with Yahoo!’s global scale and expertise. After spending some time on campus, I discovered that Yahoo! has an inspirational goal to make people’s daily routines entertaining and meaningful, and mobile will be a central part of that vision. For us, it’s the perfect fit.”
Aside from the potential of Summly, hiring this youngster makes a lot of sense for Yahoo! under the leadership of Marissa Mayer. What better way to appear relevant to the mobile generation than by giving the media and consumers a young, smart face to associate with the brand? Even if you have to pay $30 million for it…
According to D’Aloisio, 90 million news summaries have been read through Summly over the course of just a few months. For those of us who haven’t had the pleasure of going hands-on with the app–its function is to take news stories and summarize them into 400 characters. How it does so is D’Aloisio’s (and now Yahoo’s) secret. Apple picked Summy as one of their best apps of 2012, pretty amazing for the product of a developer who was only 15 at the time.
Here’s hoping the teen’s new job will only help him toward pushing out more great ideas for the iOS platform, and mobile in general.