Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Please click for more information, or scroll down to pass the ad, or Close Ad.
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
APC Free White Paper
Optimize your network investment &
Enter to win a Samsung Galaxy Note

www.apc.com
World Wide Web
24/7/365 Network Uptime
Average Rating:
Rate this article:  
Yahoo Buys News App Summly, Makes Teen a Multi-Millionaire
Yahoo Buys News App Summly, Makes Teen a Multi-Millionaire

By Jennifer LeClaire
March 26, 2013 10:34AM

    Bookmark and Share
Summly was a free app that was available for the iPhone. Nick D'Aloisio, the app's teenage developer, believes his competitive differentiation is the ability to quickly browse multiple stories. Summly, which was just acquired by Yahoo, automatically determines the most relevant facts in a story and generates short summaries.
 



Yahoo CEO Marissa Mayer is in acquisition mode. After buying the mobile personalized recommendation service Jybe last week, the tech exec now is acquiring a mobile news reader developed by a 15-year-old.

Yahoo has picked up Summly, which offers an algorithm that generates summaries from hundreds of news sources, in a deal the AllThingsD blog pegs at $30 million. The developer, Nick D'Aloisio, is now 17 and a high school student in Britain. His app is a success with 90 million summaries read in just a few months, and he's an instant millionaire.

"Our vision is to simplify how we get information and we are thrilled to continue this mission with Yahoo's global scale and expertise," D'Aloisio wrote in a blog post. "After spending some time on [Yahoo's] campus, I discovered that Yahoo has an inspirational goal to make people's daily routines entertaining and meaningful, and mobile will be a central part of that vision. For us, it's the perfect fit."

News Aggregation

Summly is a free app that was available for the iPhone. D'Aloisio believes his competitive differentiation is the ability to quickly browse multiple stories. Full articles take a long time to load; stories aren't always optimized for the mobile screen; and "snippets" pulled from the first sentence of an article often provide an incomplete picture of the article's subject matter.

With Summly, D'Aloisio offers an app that's optimized for the mobile screen. The app automatically determines the most relevant facts in a story and generates short summaries that help the reader quickly grasp the main points from diverse news sources, from The Wall Street Journal to ESPN. To read the full story, readers can then click through to the original article.

Greg Sterling, principal analyst at Sterling Market Intelligence, said Summly was a relatively popular and well-recognized news aggregation app.

"With Yahoo's emphasis on news and content and a new, big push into mobile it's obvious how it could add value to what Yahoo is doing," Sterling told us. "More questionable, perhaps, might be the price paid, which was rumored to be $30 million. There's also uncertainty about how long Mr. D'Aloisio will remain at Yahoo after his contract is up."

Venture-Backed Dream

Last year, D'Aloisio's early prototype of a Web summarization app attracted the attention of various experts in the artificial intelligence, neuro-linguistic programming and machine-learning fields. To build today's fully fledged mobile news app, D'Aloisio partnered with several of them.

Summly is backed by several investors, including Horizons Ventures, Ashton Kutcher, Betaworks, Brian Chesky, Hosain Rahman, Joanna Shields, Josh Kushner, Mark Pincus, Matt Mullenweg, Stephen Fry, Troy Carter and Yoko Ono. Summly also won Apple's Best Apps of 2012 award for Intuitive Touch.

D'Aloisio said Yahoo was removing Summly from the iTunes App Store but he expected the summarization technology would soon return in multiple Yahoo products.

"Nick and team have cleverly re-imagined how content will be consumed on mobile devices," said Mary Meeker, a venture capitalist. "With the Summly app, not only does the 'who, what, when, where and how' of content rise to the top, Summly has the potential to create an ecosystem for the best content to be distributed more broadly."
 

Tell Us What You Think
Comment:

Name:



APC has an established a reputation for solid products that virtually pay for themselves upon installation. Who has time to spend worrying about system downtime? APC makes it easy for you to focus on business growth instead of business downtime with reliable data center systems and IT solutions. Learn more here.


 World Wide Web
1.   Google Street View Unravels CAPTCHAs
2.   Yahoo COO Gets $58M Parting Gift
3.   Teen Arrested for Heartbleed Hack
4.   Malware Targets Facebook Users
5.   Mt. Gox Is Headed for Liquidation


advertisement
Don't Reset Passwords for Heartbleed?
Added caution needed to ensure security.
Average Rating:
Internet Devices Lure Hackers
Mundane devices end up in online crime.
Average Rating:
Yahoo COO Gets $58M Parting Gift
What was the company thinking?
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Google's Street View Software Unravels CAPTCHAs
The latest software Google uses for its Street View cars to read street numbers in images for Google Maps works so well that it also solves CAPTCHAs, those puzzles designed to defeat bots.
 
Canadian Teen Arrested for Heartbleed Hack
One week after the OpenSSL Heartbleed vulnerability was unveiled, Canadian authorities have made the first arrest -- a London, Ontario teenager -- connected to exploiting the security hole.
 
IBM Offers Security, Disaster Recovery as SoftLayer Service
New disaster recovery and security services for SoftLayer clients are being added by IBM. Big Blue said the new capabilities will speed cloud adoption by alleviating concern over business continuity.
 

Enterprise Hardware Spotlight
Vaio Fit 11A Battery Danger Forces Recall by Sony
Using a Sony Vaio Fit 11A laptop? It's time to send it back to Sony. In fact, Sony is encouraging people to stop using the laptop after several reports of its Panasonic battery overheating.
 
Continued Drop in Global PC Shipments Slows
Worldwide shipments of PCs fell during the first three months of the year, but the global slump in PC demand may be easing, with a considerable slowdown from last year's drops.
 
Google Glass Finds a Home in Medical Education, Practice
Google Glass may find its first markets in verticals in which hands-free access to data is a boon. Medicine is among the most prominent of those, as seen in a number of Glass experiments under way.
 

Mobile Technology Spotlight
Google Releases Chrome Remote Desktop App for Android
You're out on a sales call, and use your Android mobile device to grab a file you have back at the office on your desktop. That's a bit easier now with Google's Chrome Remote Desktop app for Android.
 
Amazon 3D Smartphone Pics Leaked
E-commerce giant Amazon is reportedly set to launch a smartphone after years of development. Photos of the phone, which may feature a unique 3D interface, were leaked by tech pub BGR.
 
Zebra Tech Buys Motorola Enterprise for $3.45B
Weeks after Lenovo bought Motorola Mobility’s assets from Google for $2.91 billion, Zebra Technologies is throwing down $3.45 billion for Motorola’s Enterprise business in an all-cash deal.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | Small Business | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.