Yahoo! paid millions for summly app

Yahoo! announced on Monday the purchase of Summly app, a mobile news aggregator created by the young British teenager Nick D'Aloisio. The application was created by the teenager at his home in London. "When I founded Summly at 15 years, I never imagined being in this position so suddenly," said the founder, now 17, said in a statement.

With the acquisition by Yahoo!, Summly will be closed. According to the company, Nick and the team will be integrated into the Yahoo! application and technology will be incorporated into the company's mobile experience.



The Summly summarizes the contents of pages and search results, speeding up browsing the internet, and was created when Nick was studying for a history test. "I was using online search engines to research in history. As I studied, I noticed that I found in my research irrelevant results and this hindered me, distracted me when I clicked on these results," said io Young told the BBC in 2011. The technology created by it assesses the significance of such content instantly to save time and avoid distractions.