Dive summary:
- Nick D'Aloisio is not yet 18 and just sold his startup Summly, a news-reading app, to Yahoo; D'Aloisio will be working for the firm and help incorporate his algorithm into Yahoo's existing technology.
- D'Aloisio began developing Summly, a news-reading app that shortens long-form stories for mobile devices, when he was just 15.
- The purchase price was not disclosed, but industry buzz estimates hover around $30 million.
From the article:
"That student, Nick D’Aloisio, a programming whiz who wasn’t even born when Yahoo was founded in 1994, sold his news-reading app, Summly, to the company on Monday for a sum said to be in the tens of millions of dollars. Yahoo said it would incorporate his algorithmic invention, which takes long-form stories and shortens them for readers using smartphones, in its own mobile apps, with Mr. D’Aloisio’s help."
