Nick D'Aloisio Summly

South London School boy, sells his app to Yahoo for 30 million

A south London schoolboy has become one of the world’s youngest tech millionaires after selling his mobile app to Yahoo!.

Nick D’Aloisio, 17, developed the app, called Summly, while revising for his mock GCSEs in 2011.

The app, which summarises news stories, will now close and its features will be used in mobile products at Yahoo!. Nick will also start a full-time job at the web giant while he studies for his A-levels.

He said: “I’m hoping to stay [at Yahoo!] as long as it takes to get the technology integrated. “We were approached a few months ago and what really excited me was their mobile strategy.

Nick-DAloisio

 

Sources familiar with the deal indicated that Nick received almost $30 million for the app, which has been downloaded around one million times since its launch last year.

Yahoo! said in a statement: “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.”

Source: British teen sells Summly app for millions

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