Aussie / UK Kid sells his app to Yahoo for $30m

Nick D’Aloisio, 17, the creator of the mobile news reading app, Summly has just sold the app to Yahoo! for the cool sum of $30 million helping him become...

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Nick D’Aloisio, 17, the creator of the mobile news reading app, Summly has just sold the app to Yahoo! for the cool sum of $30 million helping him become one of the worlds richest young people.

Mr D’Aloisio told News.com.au that he came up with the idea of the app while doing his history homework when he was 15. “I was writing for my history labs and I was using Google and other search engines, the issue was you have all this info but there’s so much it’s hard to comprehend it, so summaries are perfect.” he said, explaining the idea behind the app and how he came to it.

Yahoo’s acquisition of the app isn’t for the app itself but for the minds and technology behind it, in fact, they’re shutting down the app completely and taking the technology and putting in their own products.

D’Aloisio will now be employed by Yahoo! to continue work on their products with his technology which he said he doesn’t think will change his life that much.

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AcquisitionsYahoo