Yahoo! acquired a startup of a 17-year-old guy for $ 30,000,000

    Yesterday, Yahoo! announced the purchase of another startup, this time the Summly mobile news aggregator . According to AllThingsD, the transaction price is $ 30,000,000 (10% in shares and 90% in cash).

    Nick D'Aloisio presenting

    The Summly project started at the end of 2011 (the and domains were registered at the end of September and October, respectively). It all started in London, in the house of Nick ( Nick D'Aloisio ), who was then only 15 years old. In the same September, he received $ 300,000 in the first round of investments from Li Ka-shing and Horizons Ventures for liking Nick’s previous program, Trimit , which reduced free text to 1000, 500, and 140 characters.

    The domain, which was used by the original service, was registered for Nick by his mother Diana at Frimby Limited. A year later, in the second round, he had already raised $ 1,230,000. In the long list of investors you can see many legends of the venture business: Mark Pincus (co-founder of Zynga), Ashton Kutcher, Yoko Ono, Wendy Murdoch ... Frimby Limited subsequently closed in early 2012 after three years.

    Nick D'Aloisio

    What is this Summly - an unusual application for the iPhone . To date, the Android version is still in development. The program helps users quickly search for news on topics they are interested in and uses some know-how and artificial intelligence.compressing an arbitrary article in a summary of up to 400 characters and selects suitable and attractive pictures for design on the screen of a mobile device. Last year, Apple received the Best Apps of 2012 Intuitive Touch Award from Apple. For comparison, this post on Habré has approximately 400 words.

    According to the creator, more than 90 million summaries of articles have been read since last November, when the application officially came out . Here is the original technology presentation clip (watch best in HD):

    With the release of the first release of Summly, Nick began to intensively promote the product in the press and on television. Interviews with him came to BusinessInsider, FastCompany, Forbes, Harvard Business Review, Inc Magazine, ReadWrite, TechCrunch, The Huffington Post, The Washington Post, Wired ... in a few months, he managed to speak at BBC, Bloomberg, CNBC, and ITV. The Evening Standard ranked him among the Top 1000 influential Londoners. He was in the Top 30 of those under 30 on the Forbes Magazine Games & Apps list. Nick also managed to appear in the Top 100 of those who should be watched in 2013 by The Mail on Sunday. In December 2012, he received the Spirit of London Award as the Entrepreneur of the Year.

    According to the absorption plan, the team (Nick plus five people) should go to Yahoo, and the application itself should develop into a product under the buyer's brand before the middle of this summer. What I don’t understand is why it was decided to remove the position from the AppStore?



    Update 2: in the examples . Thank you so much nikkar !

    Update 1: judging by the voting results (see below), Nick shows Yahoo figushki: The moment was captured at the 50th second of the commercial .

    Only registered users can participate in the survey. Please come in.

    Do you think this is a good investment for Yahoo?

    • 34.6% Yes 987
    • 65.3% No 1865

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