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I’m sure it’s the dream of most teenagers to be offered several millions to spend, but in the case of Nick D’Aloisio, that’s exactly what has just happened. At the age of 17, D’Aloisio is now thought to be a millionaire after Yahoo! decided to purchase his app named Summly (formerly called Trimit).
D’Aloisio created Summly two years ago when he was just 15. The app’s tag line was “pocket sized news for the iPhone.” What it did was solve the problem of wading through text heavy articles on a smartphone. You’ll often find people skimming articles rather than reading them properly on such a small display. Summly summarized the content down into several forms with word counts between 1,000 and just 140 words making them much easier to digest in mobile form.
Yahoo! obviously liked the tech and approached D’Aloisio to acquire it. He has agreed and accepted a job with the company. But Summly as a service no longer exists as Yahoo! promptly shut it down once the deal was done. They intend to use the tech, but at the moment it’s unclear how it will integrate into Yahoo!’s existing online services. That also means the Android Summly app that was about to be released is shelved indefinitely.
As for D’Aloisio, although the terms of the sale have not been made public, he is thought to have received millions and the job probably pays quite well, too. He isn’t going to spend it all, though. A new pair of trainers and a new PC are on his shopping list. The rest will go in the bank and probably get used for some future venture once he’s bored of working for Yahoo!
source: http://www.geek.com/news/yahoo-pays-teenager-millions-for-summly-app-only-to-shut-it-down-1543962/
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