Yahoo strengthens its mobile portfilio with news aggregator created by a British teenager
Yahoo has strengthened its mobile portfolio with the acquisition of news aggregator Summly for an undisclosed amount.
Summly was founded by 17-year old Nick D’Aloisio when he was just 15 from his home in London. The service works by sorting news stories by topic and condensing them into bite-sized chunks for time-conscious readers.
The Summly application will be closed down and integrated with Yahoo’s existing range of mobile applications. D’Aloisio and the Summly team will be joining Yahoo as part of the transaction, which is subject to customary closing conditions and is expected to close in the second quarter of 2013.
Acquired for a tidy Summly
“I am delighted to announc
e Summly has signed an agreement to be acquired by Yahoo,” said D’Aloisio. “Our vision is to simplify how we get information and we are thrilled to continue this mission with Yahoo’s global scale and expertise.”
“After spending some time on campus, I discovered that Yahoo has an inspirational goal to make people’s daily routines entertaining and meaningful, and mobile will be a central part of that vision,” he continued. “For us, it’s the perfect fit.”
Yahoo CEO Marissa Meyer has made mobile a priority in her efforts to revive Yahoo since she assumed control last year, stating that the company has “underinvested” in the fastest growing area of the Internet.
Mayer has stated that the company’s focus would be on fewer, but more key mobile applications and an email solution that is superior to its competitors. Yahoo currently has more than 200 million active monthly mobile users and between 60 and 75 mobile applications – a number she wants to trim down to nearer to a dozen
The Internet giant recently unveiled a new Facebook-inspired homepage that is optimised for mobiles and tablets with a strong emphasis on sharing. The company has also been reported to be interested in acquiring a majority stake in video sharing site Dailymotion.
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