Summly is the name of an app recently acquired by Yahoo! for a substantial sum, making the young designer of the app wealthy: here’s how it works.
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News has recently broken about Yahoo!’s acquisition of an app named “Summly,” which has made its teenage creator a millionaire.
Summly was developed by Nick D’Aloisio, a 17-year-old from London, who received a multi-million dollar offer from Yahoo! for the app.
According to recent reports, Yahoo! has shelled out a noteworthy sum, which, although not officially disclosed, is rumored to be between 20 and 40 million pounds.
These are staggering numbers for an app that has enjoyed considerable success since its debut on the App Store, and not just because it was available for free download.
How does Summly work, in practice?
Summly aggregates news, and so far, it doesn’t seem like a groundbreaking or particularly unique app.
However, this application has managed to stand out significantly from others because, in addition to gathering news from multiple sources, it processes the selected texts.
This means users can read a summary of articles of interest, automatically generated by Summly.
Yahoo! has therefore decided to invest in this useful app to assert itself in the world of mobile applications and development, offering such a substantial amount to the very young D’Aloisio.
Not only that, but the 17-year-old also has a guaranteed job at the company, although he himself has specified that it will initially be a part-time position, allowing him to continue attending university.
To better understand how Summly works, we present a presentation video of the app, uploaded to Nick D’Aloisio’s official YouTube channel.
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