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Yahoo spends 'millions' on UK teen Nick D'Aloisio's Summly app

Summly

An app created by a UK teenager has been acquired by web giant Yahoo in a deal the BBC understands to be worth "dozens of millions" of pounds. Seventeen-year-old Nick D'Aloisio's Summly app summarises news stories from popular media companies.

 

Can Instagram be worth $1bn?

Can a two-year-old photo sharing app really be worth $1bn? It would buy you some some 2,100 Rolls Royce Phantoms. Or 200 million mosquito nets to fight malaria. Or the whole of the New York Times company (with $50m change to spare). If you are Microsoft, it buys you some 800 AOL patents to fight the next patent war.

 

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