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Yahoo Buys Summly News Reading App from 17-Year Old Entrepreneur

Posted: Mar. 25th, 2013  |  By DailyLuxe News

Photo: All Things D

All Things D reports that Yahoo acquired the news-reading app Summly from a 17-year-old entrepreneur on Monday.

It was reported that the tech giant paid $30 million to Nick D’Aloisio for the London-based Apple smartphone app. Yahoo will shit down Summly and use the algorithmic technology that runs the mobile app.

It is reported that Yahoo acquired the startup as a PR move to enhance its rep as a “mobile-first” company that embraces the spirit of new-age entrepreneurs and to be on the bleeding-edge of the mobile era.

Said one person close to the deal, about the founder: “Nick will be a great person to put in front of the media and consumers with Mayer to make Yahoo seem like it is a place that loves both entrepreneurs and mobile experiences, which in turn will presumably attract others like him.”

Read More on allthingsd.com
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