Yahoo! Purchases Teenager’s App in a Multi-Million Dollar Deal

yahoo appInternet giant, Yahoo! is looking to boost their mobile apps development by purchasing Nick D’Aloisio’s tech start up, Summly, in what appears to be a multi-million dollar deal. The Silicon Valley giant’s hope is to dramatically improve their mobile apps division with the help of Summly. Summly is an application that automatically delivers pictures of news stories from around the world straight to mobile devices.  The pictures and the attendant news articles are formatted for a small screen before being delivered to mobile devices.

The teenager started the company some 2 years ago at the age of 15.  His genius idea quickly attracted reputable tech companies who all jostled to recognize his invention. Li Ka-Shing, a Hong Kong billionaire as well as a Hollywood stars Ashton Kutcher and Sten Fry were all attracted by the startup company and proved to be worthy investors; some of the first to invest in the startup company.

Nick was quoted as saying he wouldn’t have gone far without the help and support of his family and friends. He quickly issued a statement on the Summly website where he paid tribute to users, friends and family. He described the acquisition of Summly by Yahoo! as a perfect fit for Summly which he hopes will be able to expand beyond its current capacity.  Last year, Summly received a prestigious Best Apps award from Apple for intuitive touch.

The acquisition of the startup company came on the heels of Yahoo’s Boss, Marissa Mayer’s announcement in November 2012 that the company would be focusing more on mobile applications in the coming year. This, she said, would be strategically focused on news, sports and apps.

Adam Cahan who is the senior vice president of Yahoo’s mobile and emerging products wrote in his blog, while announcing the deal, that mobile apps is the way in which people can be able to engage and share experiences and interests. He believes that mobile apps are at the center of the things that people love.

While the ability to skim and browse most web pages, formatted with the computer in mind, can present a real challenge when viewed on mobile devices.  The problem has been solved by the formatted and elegant snapshots delivered by Summly.  It is now easier, faster and more convenient to find news and browse through it.

The details of the new acquisition by Yahoo! are still kept under wraps, but many believe it is likely to make a millionaire out of the teenager.  Nick D’Aloisio is expected to join Yahoo after the deal is signed and delivered.  It is still speculative at this point if the teenager has indeed joined Yahoo.

Meanwhile, Summly users have been asked to stay tuned as the app will reappear as part of Yahoo’s mobile application.  It is still too early to determine if the app will be successful under the management of Yahoo! One thing Summly users are sure to expect is a surprise as the app makes reappearance sometime soon.