Yahoo Buys App for $30M From 17 Year Old Tech Geek

So, this 17 year old tech geek just sold his start-up for $30 million. Couldn't make that up...

Meet Nick D’Aloisio, a 17 year old tech geek who just made a fortune from an app he developed.

Yahoo purchased D’Aloisio’s Summly, a mobile app developed by the 17 year old that searches for snippets of news and makes them more mobile friendly.  Yahoo spent $30 million on the buy.

According to D’Aloisio, Yahoo is intending to use the technology powering Summly to reinvent how news, weather and stocks are delivered to mobile devices.  Yahoo will shut down the Summly app and take its technology for use in their own mobile apps and online services.

Not only will Yahoo give D’Aloisio $30 million for the deal, but he also will become Yahoo’s youngest employee, along with two other Summly employees.  Shares rose 19 cents for Yahoo to $23.45 on Monday.

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So, my fellow geeks, I strongly encourage you to finish coding that mobile app you’ve been working on.  You can send it my way, if you want. I don’t mind.  I promise, I won’t tell anyone!

Source: Reuters

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