Founded in 2011 by Nick D’Aloisio, then 15-years old, Summly is a news app for iPhone with an interestingly smart, summarizing-algorithm to present content in the most concise and easily read layout possible. It made a big splash in Apple’s App Store as a top app in 2012 and has over 90 million summaries in it’s database so far.
D’Aloisio was called a ‘boy genius‘ by Giga Om and the ‘mini’ London-based programmer brought in upwards of $1 million in investments from Li Ka Shing’s Horizon Ventures, Betaworks, Mark Pincus, Matt Mullenweg, Ashton Kutcher, Yoko Ono and Lady Gaga’s business manager Troy Carter, to name a few.
Nick D’Aloisio, now working as the mobile app company’s CEO will be one of the world’s first self-made millionaire. Yahoo is said to purchase the company for “dozens of millions” of pounds and released the following announcement on Monday:
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.
At the age of 15, Nick D’Aloisio created the Summly app at his home in London. It started with an insight — that we live in a world of constant information and need new ways to simplify how we find the stories that are important to us, at a glance. Mobile devices are shifting our daily routines, and users have changed not only what, but how much information they consume. Yet most articles and web pages were formatted for browsing with mouse clicks. The ability to skim them on a phone or a tablet can be a real challenge — we want easier ways to identify what’s important to us.
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.
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!
Mobile devices are at the center of how we engage with the people, experiences and interests we love. Across Yahoo!, we’re focused on creating beautiful experiences that people are excited to use every day — products that inspire and delight. We can’t wait to work with Nick and the Summly team to do just that.
On the Summly landing page now reads the following open letter from D’Aloisio:
Android users can sign up to be one of the first to get the app when it hits Google’s Play Store (at a now-unknown date) but iOS users can scoop it up for free from the App Store.