Since Marissa Mayer took over as CEO of Yahoo she has been making tremendous number of changes to turn the company into a global leader. Amongst the many changes is her effort to turn the company into a mobile first and web second company. Yahoo announced that acquisition of an iOS app, Summly, developed by a 17 year old Nick D’Aloisio. Nick first came into limelight when he started his first version of content summarisation algorithm back in 2011 when he was 15 year old. His idea took over well and got pretty good response with Hong Kong based Li Ka-shing announced his interest in funding his app and build it further. This is when things started shaping well for Nick as he could hire a proper team and build his app Summly. Other investors for the app include Wendi Murdoch, Ashton Kutcher and Yoko Ono.
Summly is a news summarisation app that relies on proprietary algorithm that automatically condenses information and put up a condensed version of the news articles on the app. Nick’s app attracted huge attention and he became the youngest entrepreneur to get a funding from a VC firm soon. With Nick’s success the world once again realises the potential of good and groundbreaking mobile applications.
Nick currently has around 1.5 years of high school remaining after which he would take down his job offer at Yahoo which is a perk along with the $30 million offer that Summly bagged from Yahoo.