17-year-olds start up tens of millions of dollars

Yinpeng

Yahoo Inc. announced March 25 that it would buy a summly mobile-reading application for the development of a British teenager, but did not disclose specific terms of the deal. According to media reports, the transaction value of about 30 million U.S. dollars.

Summly, developed by the 17-year-old British teenager Nick Daloisio, is centered on a news-streamlining technology that simplifies long news as a headline-and-Simple news digest, dramatically reducing the time it takes for smartphone users to read news.

Aloisio, a 17-Year-old student at King's College in London. Since the parents are Australians, Aloisio was in Australia before he was 7 years old. When he came to England, his father worked as an analyst at a Morgan Stanley department and his mother was a lawyer.

Aloisio is currently living with his parents and a younger brother at Wimbledon in London's affluent district. He said he would take part in the work of the Yahoo London office while continuing his studies. "I'm only 17 years old-I want to stay with my family and friends and go to school." In addition, Aloisio says he plans to major in the humanities rather than computer science in college.

For the huge sums of money acquired through acquisitions, Aloisio said he had no special plans to use, except to buy a pair of Nike sneakers and a new computer, and managed the assets together with his parents.

Aloisio 2011 at home in preparation for the exam, found that the news article points on the efficiency is too low and waste time, so began to design a semantic analysis algorithm to streamline the news program, last November, developed the software, launched in a short period of 4 weeks to obtain more than 500,000 downloads.

Summly formerly known as Trimit, the application software through the full length of the semantic analysis algorithm, the use of a piece of information into a clear title and with a few outlines of the 100-word summary of the news, users can only spend less than a minute to understand the most critical information in the news. Its function is similar to the automatic text compressor, can be condensed reading content. Users can read the details by clicking on a bookmark, or they can share the news content with their friends in text form, via telecoms, email, Facebook or Twitter.

In addition to the outstanding article enrichment technology, Summly beautiful layout design also attracted a lot of people's attention. In the main interface of Summly, different news content is marked with different background colors, and the user can update the main interface article by scanning the finger.

After the release of Summly, Aloisio received praise from Apple, which was among the best iphone apps of the 2012. Summly has been removed from Apple's software store after Aloisio's deal with Yahoo is complete.

Aloisio, who taught himself to write a software program at age 12, has launched several apps, including Facemood, which can help users determine the mood of their friends on Facebook and an application that can be used to help people discover new music.

In 2011, Aloisio founded a company called Trimit and released an application that could condense news to about 400 words. He was recognised by the horizon venture, the richest man in Hong Kong, China, and invested 300,000 of dollars to make him the youngest entrepreneur to venture capital.

After that, the Zynga founder Ping Cass, film star Kutcher, British anchor Stephen Fries, Japanese-American artist Ono, News Rupert, and other celebrities have been supporting, Summly has so far raised more than 1.5 million U.S. dollars.

"They all contacted me without any indication when they began to gain market recognition after the release of Trimit," Aloisio said. ”

With the intervention of Sri Analysys, Aloisio republished the application in 2012 and named it summly.

Aloisio has recently become a small star in the scientific and technological community, and has started appearing frequently in newspapers and television screens. Aloisio said in an interview with Reuters 25th night that the money was there, waiting for smart action, "If you have a good idea, or think there is a gap in the market, act, because investors all over the world are looking for companies to invest."

Although the specific terms of the transaction have not yet been announced, according to media reports, Yahoo has spent nearly 30 million dollars to acquire the news application software. The deal made Aloisio the world's youngest millionaire.

While mobile devices are changing our daily lives, "most articles and Web pages are designed for the PC side and are suitable for clicking and browsing with the mouse," Adam Karn, head of Yahoo's mobile phone business, said in a blog post announcing the deal. Browsing them on a mobile phone or tablet can pose a big problem--and readers want to find something important to them more conveniently. Upon completion of the acquisition, Aloisio will join with his team in the Yahoo Company. Yahoo will shut down summly apps and incorporate technology into Yahoo's mobile experience.