Yahoo! buys app from British teen
- Published: 26 Mar 2013 at 02.09
- Online news:
Yahoo! announced plans Monday to buy mobile news reader app Summly from the London teenager who invented it, likely transforming him into one of the world's youngest self-made multimillionaires.
The company did not disclose the terms of the deal it struck with 17-year-old Nick D'Aloisio, but the London Evening Standard said Yahoo! would pay between £20 million and £40 million ($30 to $60 million).
"We're excited to share that we're acquiring Summly, a mobile product company founded with a vision to simplify the way we get information, making it faster, easier and more concise," Yahoo! said in a statement.
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