Nick D’Aloisio, 17, has app bought for millions by Yahoo!
A London teenager has become one of the world’s youngest internet millionaires after the app he dreamt up in his bedroom to help with his homework was bought by Yahoo! in a multi-million pound deal.
Nick D’Aloisio, 17, said he would buy a pair of shoes and a new computer after the deal was confirmed by Yahoo!.
The terms of the purchase have not been disclosed, but it is thought Yahoo! will pay between £20million and £40million for his Summly app.
Although iPhone app Summly was only released on the Apple App Store four months ago, it has already been downloaded one million times.
The free app, which is now no longer available to download, allows iPhone users to break down any internet article into a summarised version of no longer than 350 to 400 words.
The origins of the app lie in a 15-year-old Nick wanting to make it easier for him to read articles online while he revised for mock exams, with several incarnations of the app attracting celebrity investors such as Stephen Fry, Yoko Ono and Ashton Kutcher.