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| Subject: Teen's multi-million dollar Yahoo payday Mon Mar 25, 2013 10:38 pm | |
| Yahoo has snapped up mobile news aggregator Summly, the latest in a string of small acquisitions intended to bolster the web portal's mobile services.
Summly, founded by British-Australian 17-year-old Nick D'Aloisio two years ago from his home in London, sorts news by topics in quick bites for smartphones.
The start-up works closely with News Corp and is backed by Chinese investor Li Ka-Shing and angel investors including actor Ashton Kutcher and artist Yoko Ono.
Terms of the deal were not disclosed, though technology blog AllThingsD reported that Yahoo paid roughly US$30 million, citing anonymous sources, while the London Evening Standard said Yahoo would pay between £20 million and £40 million (NZ$36 to NZ$72 million).
D'Aloisio said Yahoo would use the technology that powers Summly to reinvent the delivery of information such as news, weather, stocks and finance for mobile devices.
http://www.stuff.co.nz/technology/digital-living/8474218/Teens-multi-million-dollar-Yahoo-payday |
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