Featured Articles

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC has announced that it will begin volume production of 16nm FinFET products in the second half of 2015, in late…

More...
AMD misses earnings targets, announces layoffs

AMD misses earnings targets, announces layoffs

AMD has missed earnings targets and is planning a substantial job cuts. The company reported quarterly earnings yesterday and the street is…

More...
Did Google botch the Nexus 6 and Nexus 9?

Did Google botch the Nexus 6 and Nexus 9?

As expected, Google has finally released the eagerly awaited Nexus 6 phablet and its first 64-bit device, the Nexus 9 tablet.

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 27 March 2013 18:27

British teen gets millions out of Yahoo

Written by Nick Farrell



Mobile app makes his fortune

A British teen who probably did not spend most of his life hanging around shopping centres wearing a hood and mumbling has just squeezed several million pounds out of Yahoo.

Nick d’Aloisio was studying for his exams when he hit upon a wizard wheeze to build an app which shorted content searches. This made it ideal for mobiles. He dubbed his mobile application Summly and it did so well that it attracted the interest of Yahoo.

D’Aloisio, who dreamed up the idea for the content-shortening program when he was studying for his exams, said he was surprised by the deal. Yahoo didn’t disclose how much it is paying for Summly, although British newspapers suggested the deal’s value at several million dollars.

Unlike other teens he does have a venture capitalist backer Li Ka-Shing but nevertheless he was surprised by his sudden success. The deal is Yahoo’s fifth small acquisition in the past five months. All of them have been part of CEO Marissa Mayer’s effort to attract more engineers with expertise in building services for smartphones and tablet computers, an increasingly important area of technology that she believes the Internet company had been neglecting.

Summly is no longer be available. Summly’s technology will return in other Yahoo products, he said. He will also get a job at Yahoo’s London office and will work while he finishes his high school exams. Two other Summly workers will join Yahoo at its Sunnyvale, California, headquarters.

It is worthwhile pointing out that D’Aloisio is younger than Yahoo, which was incorporated in March 1995.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments