Nick D'Aloisio, 17, Sells Summly App to Yahoo for $30 Million

03/27/2013 at 11:55 AM EDT

Summly Creator Nick D'Aloisio Sold App to Yahoo for $30 Million
Nick D'Aloisio
REX USA
Nick D'Aloisio just went from being a very smart kid to a very rich kid.

After selling his app Summly to Yahoo for what's been reported as $30 million, D'Alosio, 17, is taking the tech world by storm.

Here's what you need to know about the whiz kid:

This isn't his first app. At just 12-years-old, D'Aloisio produced his first app called Fingermill, a treadmill for fingers. The tech wunderkind told Wired UK last year that it was "awful."



He was inspired by standardized tests. While studying for General Certificate of Secondary Education in history, D'Aloisio wanted to find a faster way to summarize all the content he was reading. He then developed Trimit, an app that summarized long texts into 140, 500 or 1,000 characters. After some tweaks, D'Aloisio turned his app into Summly, which could turn entire pages into a few important points.

A lot of big names are interested in D'Aloisio. Yahoo may be Summly's largest shareholder but the others are nothing to scoff at. Wendi Murdoch, Ashton Kutcher and Yoko Ono have all invested in the app, reports the New York Times.

He's about to be very rich. Although the New York Times reports that Yahoo declined to comment on the price they paid for Summly, technology blog AllThingsD says the company paid D'Aloisio $30 million and gave him a job at their London office.

He's still got to finish school. D'Aloisio is on sabbatical from King's College School in Wimbledon after stopping classes last year to concentrate on Summly. But while part of his Yahoo deal involves a position at the company, he told The Telegraph he's not turning his back on education. "Education is something that naturally interests me, so I'll be okay. If it doesn’t work out with school, I can go back when I'm 20 – or whenever,"” he said.

As for his parents being supportive of his decision to take a break from school, he said: "I talked about it with them and my headmaster and we decided it was a once-in-a-lifetime opportunity and it would be silly not to run with it. Now looking back, I can say it was a massive gamble. But a good gamble."



Your Reaction

Follow Us

On Newsstands Now

George Turns 1: Raising a Little Prince!
  • George Turns 1: Raising a Little Prince!
  • Ryan and Eva: How They Hid Her Pregnancy
  • Jillian Michaels: Why I Left Biggest Loser

Pick up your copy on newsstands

Click here for instant access to the Digital Magazine

blog comments powered by Disqus
Advertisement

From Our Partners

Watch It

Editors' Picks

From Our Partners