The impetus for Summly came to teenage Nick D'Aloisio when he realized that the physical activity of sorting through and reading his daily online news was just exhausting. Founded in 2011, Summly cut down news articles by distilling their words into simple, 400-character summaries and displaying them on a mobile interface that catered to the user's specific tastes. Summly is to Watson what a Hot Wheels toy car is to a real Indy race car.Summly is to Watson what a Hot Wheels toy car is to a real Indy race car. The acquisition of Summly follows Yahoo's purchase of Jybe , a social recommendation company, just last week and New York City-based app Stamped , which similarly let users build recommendation lists, last fall.
Yahoo has acquired Summly, a mobile news aggregator that aims to make the gathering of news and information simple. Summly was acquired for a reported $30 million; 90 percent in cash and 10 percent in stock, according to AllThingsD .
As part of the deal, three Summly employees will join Yahoo. The deal is subject to closing conditions, and is expected to close next quarter. D'Aloisio will remain in London, where he attends King's College School . He will be Yahoo's youngest employee. He commented to Reuters that because of his age, he has to wait to get access to the money he made from the sale of his company.
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Yahoo has acquired Summly, a mobile news aggregator that aims to make the gathering of news and information simple. Summly was acquired for a reported $30 million; 90 percent in cash and 10 percent in stock, according to AllThingsD .
As part of the deal, three Summly employees will join Yahoo. The deal is subject to closing conditions, and is expected to close next quarter. D'Aloisio will remain in London, where he attends King's College School . He will be Yahoo's youngest employee. He commented to Reuters that because of his age, he has to wait to get access to the money he made from the sale of his company.
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