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. Click for more information, or
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
Build Apps 5x Faster
For Half the Cost
Enterprise Cloud Computing

On Force.com
Mobile Tech
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:



Salesforce.com is the market and technology leader in Software-as-a-Service. Its award-winning CRM solution helps 82,400 customers worldwide manage and share business information over the Internet. Experience CRM success. Click here for a FREE 30-day trial.


 Mobile Tech
1.   Nokia X Phones Had Identity Crisis
2.   GoTenna: Work-Thru for Dead Zones
3.   Microsoft Axes Android Phones
4.   Apple-IBM Deal Weighs on BlackBerry
5.   Google Adds Features to Wallet App


advertisement
Android SMS Worm on the Loose
Malware lets bad actors cash in.
Average Rating:
Review: Microsoft's Surface Pro 3
Is it a tablet and laptop replacement?
Average Rating:
Nokia X Phones Had Identity Crisis
'Gateway' devices didn't resonate.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Juniper DDoS Solution Aims at High-IQ Networks
In the face of more complex attacks, Juniper Networks is boosting its DDoS Secure solution to help companies mitigate the threats with more effective security intelligence throughout the network fabric.
 
Large-Volume DDoS Attacks Hit Record in 2014
The number of distributed denial-of-service (DDoS) attacks set a record in the first half of 2014, according to a report by Arbor Networks. The number of attacks over 20 GB/sec doubled.
 
U.N.: Nations Hide Rise in Private Digital Snooping
Governments on every continent are hiding an increasing reliance on private companies to snoop on citizens' digital lives, the U.N. human rights office says, with grave concerns about privacy.
 

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

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.