Yahoo to acquire app Summly made originally by 15 year old [Update]

Here's a story that will make a lot of you start working on that next great app. Yahoo has just announced that it will acquire Summly, an iOS app that was originally made by Nick D'Aloisio, a UK resident. He was only 15 years old when he first made Summly; he's 17 now.

17 year old Nick D'Aloisio, sitting here with actor-writer Stephen Fry, is likely a very rich teenager right now.

While D'Aloisio first created Summly in 2010, the app itself only launched on the iPhone a few months ago. Its main claim to fame is that it automatically generates summaries of news stories it collects on the Internet, rather than just showing news headlines. The app company had already raised $1.53 million from investors before today's announcement by Yahoo. Specific terms of the Yahoo deal were not announced.

In its press release, Yahoo stated that D'Aloisio and the Summly team would be joining Yahoo "in the coming weeks" but that the iPhone Summly app would be retired. It added, "While the Summly app will close, you will see the technology come to life throughout Yahoo!’s mobile experiences soon."

In his own statement on the Summly site, D'Aloisio said, "With over 90 million summaries read in just a few short months, this is just the beginning for our technology. As we move towards a more refined, liberated and intelligent mobile web, summaries will continue to help navigate through our ever expanding information universe."

Update: AllThingsD.com reports, via unnamed sources, that Yahoo spend a whopping $30 million to acquire Summly. It also says that D'Aloisio can leave Yahoo after 18 months.

Source: Yahoo | Image via Summly

Report a problem with article
Previous Story

Windows RT to get a Blue update as well

Next Story

HTC will no longer be "Quietly Brilliant"

13 Comments

Commenting is disabled on this article.

Why would they close the app? Sounds like a very bizarre move to me... They will now lose the momentum saying nothing like free marketing they receive... It is like Instagram would close on FB acquisition. That would kill the app actual.ly...

A propos, it was difficult to find anything on Nick, here is the best resource so far: http://many.at/nickdaloisio/

Because they were after machine learning algorithms and technology! Yahoo will use it for its own newsreader apps to summarize article! I know there is a lot of hate on yahoo by the tech geeks around the web, but Marisa mayer is trying very hard to get yahoo back on track! Doing small acquisitions of developers and technology is good! Remember yahoo isn't only know for its portal. They were the company that made Hadoop, which powers over 90% of the cloud computing technologies. Hadoop was an open source version of the Map Reduce technology that Google invented for its own servers. It helps to break down giant tasks and distribute it for processing over 100s of machines. Amazone Web Services, with Amazon Elastic MapReduce uses this and they power 1000s of startups cloud backends. Yahoo has brought a lot of great tech to the open source world and Hadoop is probably their biggest accomplishments and it is vital for the web now. They're not just some stupid email and web portal. The summly app is unnecessary to maintain because yahoo will probably add these features to their own mobile apps.

szo said,
Because they were after machine learning algorithms and technology! Yahoo will use it for its own newsreader apps to summarize article! I know there is a lot of hate on yahoo by the tech geeks around the web, but Marisa mayer is trying very hard to get yahoo back on track! Doing small acquisitions of developers and technology is good! Remember yahoo isn't only know for its portal. They were the company that made Hadoop, which powers over 90% of the cloud computing technologies. Hadoop was an open source version of the Map Reduce technology that Google invented for its own servers. It helps to break down giant tasks and distribute it for processing over 100s of machines. Amazone Web Services, with Amazon Elastic MapReduce uses this and they power 1000s of startups cloud backends. Yahoo has brought a lot of great tech to the open source world and Hadoop is probably their biggest accomplishments and it is vital for the web now. They're not just some stupid email and web portal. The summly app is unnecessary to maintain because yahoo will probably add these features to their own mobile apps.

Source?

They have improved recently, but they are not as sexy as google or new kids on the block. Let us see if Marissa can shake things up or down.

The only reason this app got noticed is because Stephen Fry liked it/mentioned it once... and for Stephen Fry's Twitter followers, he's essentially "god", so if Stephen Fry mentions something "it must be good"... but essentially this app is just a news aggregate - hardly a new/revolutionary concept!!

I've yet to see Stephen Fry mention something about technology that I've gone crazy about, half the time its waffle about Apple stuff that I try to blank out

Teebor said,
I've yet to see Stephen Fry mention something about technology that I've gone crazy about, half the time its waffle about Apple stuff that I try to blank out

He doesn't know much about technology despite trying to portray himself as some geek, he really isn't.

It's yet another ad that'll die down and cause losses for Yahoo in the long run.

Who cares, can't wait for Yahoo to die off.

By the way, may be concept came from the 15 year old, but there is a full work force along with 3rd party research firm like SRI behind their growth and RnD...

I hope those people are not left behind who helped the 15 yr old guy to build on with knowledge and other support

Meanwhile, in other news google is dumping its own "Google Reader" which does pretty much exactly the same thing, so they can try and force their dwindling userbase to use their failed google+ social network.