Summly’s 17-year-old founder becomes multi-millionaire with Yahoo’s $30 million acquisition

“Nick D’Aloisio became a millionaire at 17 after selling a mobile-phone application he came up with at home in London two years ago to Yahoo! Inc.,” Douglas MacMillan and Amy Thomson report for Bloomberg.

“The largest U.S. Web portal announced on its blog yesterday a deal to acquire Summly, an app which makes it easier to read news on smaller screens, without disclosing financial details,” MacMillan and Thomson report. “Yahoo agreed to pay $30 million, according to a person familiar with the transaction.”

“D’Aloisio, who will join Yahoo along with some members of his team, has been building applications for handsets since he was 12,” MacMillan and Thomson report. “His parents will keep the money from the sale in a trust fund for him, he said.”

MacMillan and Thomson report, “D’Aloisio said he’d like to continue building companies after a stint at Yahoo and is particularly interested in artificial intelligence technology, such as Apple Inc.’s Siri. [Yahoo CEO Marissa] Mayer has said she sees the company building sites and technologies for daily activities such as checking e-mail and stock tickers. In January, she said she’s focused on technology that will personalize content from the Web and deliver it to people on their handheld devices. ‘We think about how do we take the Internet and order it for you,’ Mayer said.”

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