An app created by a UK teenager has been acquired by web giant Yahoo in a deal the BBC understands to be worth "dozens of millions" of pounds.
Seventeen-year-old Nick D'Aloisio's Summly app summarises news stories from popular media companies.
Neither company would disclose the terms of the deal publicly.
The app itself will now close, but its features will be used in mobile products at Yahoo, where Mr D'Aloisio has been given a job.
He will be joined by several of Summly's "top staff" in new roles at Yahoo in the next few weeks.
The app launched when Mr D'Aloisio was aged just 15, and soon attracted more than £1m of investment. He is now likely to be one of the world's youngest self-made multi-millionaires.
Tuesday, March 26, 2013
One of the World's Youngest Self-Made Multi-Millionaires
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Capitalism is a beautiful thing.
ReplyDeleteThat's impossible, we all know that you have to go to college to do anything like that.
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