Yahoo Acquired Summly, Start up by 17 years Old

Today, Yahoo has announced that it has acquired mobile news aggregator start up Summly. Summly is an iPhone app that allows users to find news based on their interest.

Yahoo Acquired Summly, Start up by 17 years Old

“Today, 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,” Adam Cahan, SVP of Mobile and Emerging Products announced.

“Summly solves this by delivering snapshots of stories, giving you a simple and elegant way to find the news you want, faster than ever before. For publishers, the Summly technology provides a new approach to drive interest in stories and reach a generation of mobile users that want information on the go,” He wrote about Summly.

“Nick and the Summly team are joining Yahoo! in the coming weeks. While the Summly app will close, you will see the technology come to life throughout Yahoo!’s mobile experiences soon. So stay tuned,” He added.

This app is displays news articles with snapshots from variety of news sources by using artificial intelligence and natural language processing. Read more about the technology behind Summly here.

Summly was founded by a 17-year-old Nick D’Aloisio. Company was founded back in 2011 when Nick was only of 15 years. He raised $300,000 seed round of funding in September form Li Ka-shing and Horizons Ventures. A year later , he again raised a second $1.23 million round of funding from many popular tech people including Zynga co-founder Mark Pincus, Ashton Kutcher, Yoko Ono and Wendy Murdoch.

Summly team will soon join yahoo in coming weeks. App will soon cease operation and the technology behind the app will be used in Yahoos mobile products.