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UK teen gets ‘dozens of millions’ from Yahoo for the purchase of Summly

If you own an iPhone, you must be familiar with the Summly app. If you’re looking to download the app for your handset, we have bad news for you. It is no longer in the Apple App Store, since it has now been purchased by Yahoo for “dozens of millions”.Summly_icon_Screengrab

Yahoo announced, “Today, we’re excited to share that we’re acquiring Summly, a mobile product company founded with a vision to simplify the way we get information, making it faster, easier and more concise.

“At the age of 15, Nick D’Aloisio created the Summly app at his home in London. It started with an insight — that we live in a world of constant information and need new ways to simplify how we find the stories that are important to us, at a glance. Mobile devices are shifting our daily routines, and users have changed not only what, but how much information they consume. Yet most articles and web pages were formatted for browsing with mouse clicks. The ability to skim them on a phone or a tablet can be a real challenge — we want easier ways to identify what’s important to us.

“Summly solves this by delivering snapshots of stories, giving you a simple and elegant way to find the news you want, faster than ever before. For publishers, the Summly technology provides a new approach to drive interest in stories and reach a generation of mobile users that want information on the go.

“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. So stay tuned!”

The BBC reports, “An app created by a UK teenager has been acquired by web giant Yahoo in a deal the BBC understands to be worth “dozens of millions” of pounds.”

Do you find the story of Nick D’Aloisio and Summly inspiring? Share your thoughts through a comment below.