The latest analyses, insights and strategies that inspire CMOs and marketers everywhere.
Yahoo Buys Summly News Aggregation App Developed By UK Teen
Yahoo has acquired mobile app Summly, which was founded by UK teen Nick D’Aloisio. He was 15 then; he’s 17 now. Summly is not unlike Zite or Flipboard. It’s a mobile app that aggregates and formats news content from numerous publishers and offers elegant “summaries” of those articles.
AllThingsD reported that the acquisition price was “close to $30 million.” Founder D’Aloisio and the Summly team will join Yahoo. However, the Summly app will disappear, starting today.
This is both an “acqu-hire” and a technology acquisition for Yahoo, which will incorporate Summly’s capabilities into its news app and other mobile properties (“throughout Yahoo!’s mobile experiences”). It may well be a mistake for Yahoo to shutter Summly, but CEO Marissa Mayer is trying to create consistent PC-to-mobile brand experiences.
This acquisition follows last week’s announcement that Yahoo was buying Jybe.
Below is a video of Nick D’Aloisio and actor-technology enthusiast Stephen Fry explaining the benefits of Summly.