British Teen Earns Small Fortune as Yahoo Buys Startup

British Teen Earns Small Fortune as Yahoo Buys Startup

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Summly founderOne of Britain’s youngest Internet entrepreneurs has hit the jackpot after selling his top-selling mobile application Summly to search giant Yahoo.

17-year-old Nick d’Aloisio may be getting several million dollars for his news-summarizing program, if British newspapers are to be believed.

D’Aloisio taught himself to code at age 12 to create products for Apple’s new App Store, according to the Associated Press.

“When I founded Summly at 15, I would have never imagined being in this position so suddenly,” said Nick on his website, “I’d personally like to thank Li Ka-Shing and Horizons Ventures for having the foresight to back a teenager pursuing his dream.”

Officially launched just last November, the free app, which wasn’t available in the US when I checked the Apple store today, tallied 500,000 users in just a month, and earned “Apple’s Best Apps of 2012” award for Intuitive Touch.

Daniel Ek, Founder of Spotify said, “Summly is an amazing piece of technology which easily summarizes the world news into a bite-sized format. Perfect for people like myself who are constantly in a rush, but want to be in the know.”

(READ the AP story at NBC)