Teenage Inventor, Nick D’Aloisio, Hits $30million Deal At 17.He also becomes the youngest employee in Yahoo

 Nick D’Aloiso as been described as Britain’s most exciting young tech entrepreneur. The 17 year old school boy who devised a mobile phone software to make news search easier and quicker, which he named Summly app.Report had it that the teenager has concluded the sales of his smartphone news app to Yahoo Inc. for are ported sum of $30 million.

Summly App is a software to summaries news, pulls in news from a variety of sources and uses a computer algorithm to boil it down to a couple of key sentences, with users choosing the subjects most relevant to them.If you are interested you can click through to a longer summary or the entire original article. The latest version which is free has already been downloaded more than 750,000times since it was launched in November 2012, with its summaries being read more than 75 million times.

More after the cut....

The success of Summly App software is a collection of efforts,ranging from genius, hard work, trust and unflinching support. The earlier version of the Summly app by Nick was Trimit, which is powered by an algorithm that automatically boils down articles to about 400 characters. It caught the eye of Horizons Venture, a venture capital firm owned by Hong Kong billionaire Li Ka-shing the richest man in Hong Kong and an investor in tech firms from Facebook to Siri who invested $250,000 in it. Trimit cuts down long web contents into tweet-sized bites and fits into App Stores New & Noteworthy shop window too. The software was later reviewed favourably by several tech blogs and quickly hit 30,000 downloads.

D’Aloisio’s love for computers developed to the point where he pestered his parents to invest in an Apple Macbook because he was intrigued by its iMovie application.When Apple launched its iPhone App Store in 2008, he visited an Apple Store and asked the staff how he could learn the coding and make his own apps. Eventually,he taught himself via online videos and launched his first app, Finger Mill – a workout for your finger - at the end of summer 2008, when he was 12, and when there were only a few thousand apps available. He currently lives in Wimbledon, a prosperous suburb in London and is employed by Yahoo. According to Yahoo,D’Aloisio is the youngest recruit on its list of employee. The success story of Summly App is not his first. D’Aloisio had had several other similar sophisticated designs aimed at easing the conventional difficulties in mobile telecommunication process.

 He has created several apps, including Facemood, a service which analyzes sentiment to determine the moods of Facebook users, and music discovery service SongStumblr among others. D’Aloisio, who taught himself to code at age 12, after Apple’s App Store was launched, had struggled to acquire sophisticated skills in mobile telephone software designs enough to make him financially independent for life.D’Aloisio was inspired to develop Summly App due to to his frustrating experience of trawling through Google searches and separate websites to find information when revising for a test. His business has worked for around 250 content publishers,he said, such as News Corp’s Wall Street Journal. People reading the summaries can easily click through to the full article, driving traffic to newspaper websites or blog.He said every human being has a gift that can rule the world. The money is there, just waiting for clever new moves, he said. “If you have a good idea, or you think there’s a gap in the market, just go out and launch it because there are investors across the world right now looking for companies to invest in,” he told Reuters in a telephone interview.

Source: Guardian Newspaper