Yahoo buys teenager's mobile app company

Yahoo acquires Summly as part of its new mobile strategy under Marissa Mayer

Nick D'Aloisio, the 17-year-old founder of Summly, is having a good week.

Yahoo announced Monday that it is buying Summly, a London-based company that developed an app that condenses information and makes it easily and quickly readable on mobile devices. Financial details of the deal were not disclosed, but it has to be a windfall for D'Aloisio, who is still in high school.

"Our vision is to simplify how we get information, and we are thrilled to continue this mission with Yahoo's global scale and expertise," wrote D'Aloisio on Summly's site. "After spending some time on campus, I discovered that Yahoo has an inspirational goal to make people's daily routines entertaining and meaningful, and mobile will be a central part of that vision. For us, it's the perfect fit."

Yahoo reported that it's not just buying the company. D'Aloisio is joining Yahoo as part of the deal.

Yahoo is shutting down the Summly app, but said the technology will reappear "soon" as part of Yahoo's mobile push.

"Mobile devices are at the center of how we engage with the people, experiences and interests we love," wrote Adam Cahan, a senior vice president of mobile and emerging products at Yahoo, in a blog post (http://ycorpblog.com/2013/03/25/yahoo-to-acquire-summly/ ) . "We're focused on creating beautiful experiences that people are excited to use every day -- products that inspire and delight. We can't wait to work with Nick and the Summly team to do just that."

D'Aloisio launched Summly in December 2011, tapping into the growing worldwide interest in mobile devices and the apps that work with them. Despite his young age, he received venture capital funding from Horizons Ventures and also received investment and advice from actor Ashton Kutcher and artist Yoko Ono.

Marissa Mayer, Yahoo's new CEO, has said that taking advantage of the burgeoning mobile market is part of her plan to rebuild the company.

In January, Mayer said mobile products are "incredibly important to our strategy."

To that end, Yahoo also recently acquired the mobile recommendations app Stamped and the video chat broadcasting app OnTheAir.

Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at @sgaudin, on Google+ or subscribe to Sharon's RSS feed. Her email address is sgaudin@computerworld.com.

See more by Sharon Gaudin on Computerworld.com.

Read more about mobile apps in Computerworld's Mobile Apps Topic Center.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

More Videos

More Brand Posts

As an ex employee of 4 years during the growth of the company, I can say that the new management has benefitted the company tremendously,...

Harry

How JobAdder's CMO is bringing the human truth to B2B rebranding

Read more

So many words, so little business benefit.

Brett Iredale

How JobAdder's CMO is bringing the human truth to B2B rebranding

Read more

This article highlights Gartner’s latest digital experience platforms report and how they are influencing content operations ecosystems. ...

vikram Roy

Gartner 2022 Digital Experience Platforms reveals leading vendor players

Read more

Ms Bennett joined in 2017 yet this article states she waited until late 2020 to initiate a project to update the website. The solution t...

Munstar Cook

How Super SA put customers at the heart of its digital transformation

Read more

Its a informative post thanks for sharing

Galaxy Education

The people and process smarts needed to excel in omnichannel retailing

Read more

Blog Posts

The 15 most-common persuasion mistakes

As workers across the country slowly head back to the office, many of us might have forgotten how to deal with one another in person and the best way to persuade someone in a working environment.

Michelle Bowden

Author, consultant

5 commonly missed opportunities when marketing to multicultural customers

The latest census data shows Australia has become a majority migrant nation for the first time. According to the new national data, more than 50 per cent of residents were born overseas or have a migrant parent.

Mark Saba

Founder and CEO, Lexigo

Post-Pandemic Business Playbook: An Opportunity Unlike Ever Before

Covid-19 created a shift in the customer and economic-based reality unlike anything most of us have ever experienced. Customers have changed from routinised pre-pandemic shopping behaviours to frequently purchasing new brands and suppliers.

Ofer Mintz

Associate Professor of Marketing, UTS Business School

Sign in