Why exactly did Yahoo purchase startup Summly for $30 million?

Shawn Knight

Posts: 13,753   +140
Staff member
Last month Yahoo acquired a news summarizing app called Summly for $30 million. The story garnered attention due to the fact that Summly was run by 17-year-old Nick D’Aloisio but there was something else fishy about the whole deal according...

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Posts: 13,141   +6,438
As per reports, D’Aloisio must stay on with Yahoo for the next 17 months but he won’t be in charge of the technology he invented and helped create. That task will be given to Yahoo’s mobile organization team led by Adam Cahan.
I don't have a problem with that, seeing how Summly was purchased for $30 million.


Posts: 313   +67
So, he outsourced development to another company and is now rich?
Time to start kickstarter and start outsourcing all my app ideas.