Nick D'Aloisio is your typical high school kid- he has a girlfriend , his
mom is on his case to clean his room, and he has a curfew.
But
he did just sell his tech startup for about $30 Million. The
17-years-old Brit is the founder of Summly, a mobile app he developed
that searches for snippets of news and makes them better suited formobile devices- which D'Aloisio sold to yahoo.
He
will now work for Yahoo! CEO Marissa Mayer and become the company’s
youngest employee.
D’Aloisiobuilt Summly from his bedroom when he was just 15 and attracted big
investors like Hong Kong billionaire Li Ka-shing and Ashton Kutcher.
His
mobile app was a hot pickup for Yahoo!, and D’Aloisio said it took
months to come to terms.
“There
were other big Internet companies interested, but Yahoo! was the most
appropriate,” the teenager told The Post yesterday. “Yahoo! is
just one of these classic companies.”
The
price was not disclosed, but AllThingsD reported it was $30 million —
90 percent in cash and 10 percent in stock.
Yahoo!
in turn gets a new mobile product as part of its broader strategy to
entrench its brand on smartphones and tablets.
“Yahoo!
has an inspirational goal to make people’s daily routines
entertaining and meaningful, and mobile will be a central part of
that vision,” D’Aloisio said in his blog post announcing the
acquisition. “For us, it’s the perfect fit.”
Source: foxnews
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