Yahoo buys out Summly app for USD 30 million

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Got a tech idea, sell it and make millions, says the teenager from the United Kingdom whose summly app, the giant company Yahoo bought for $30 million. Money is right there and is just waiting for some clever moves, says the youngster. His recent success proves that any teenager with outstanding ideas can make millions even before passing the teenage.

The Summly app developed by the British teenager summarizes news stories from almost every popular media company. The name of the teenager who created the app is Nick D’ Aloisio. The teenager after making a big deal of money out of the app says that he will buy some computers and trainers. He says he just intends to save and put the money which he got out of the deal in a bank.

The features of the app will be incorporated into the mobile products of Yahoo. The teenager will work in Yahoo while also studying his A-levels. The app is so designed that it reduces the lengthy online stories into crisp ones to enable readability for users. The app is placed in the 9th spot in the free iPhone app list and users can now find news stories within seconds.

The Summly app will be reportedly closed down from the Apple Inc store and be integrated with Yahoo’s mobile services. Yahoo has been acquiring many small web and mobile start ups since last few years. The acquisition became intense after Marissa Mayer; the former Google executive became the Chief Executive last year.

Summly could possibly fill the gap left by the Google reader. The teenager says that the greatest advantage of joining the Yahoo Group is that they have numerous publishers. Yahoo now is planning to shift completely to Summly app, but says that it will integrate the app with the company’s natural language and also utilize the app for its mobile services.