D'Aloisio is only 17-years-old. When he started Summly, he was only 15.
Summly scans the Web for news and uses an algorithm to find the type of content you want to read. Then it summarizes it for you.
Yahoo is going to shut down Summly as a stand alone app, but it says it's going to incorporate Summly technology into its own mobile apps and sites.
Clearly, Yahoo CEO Marissa Mayer wanted to hire D'Aloisio. She has been making a lot of small acquisitions like Summly. She wants to bring young, fresh, mobile-focused talent to Yahoo.
Humorously, Aaron Levie, CEO of cloud storage company Box, notes on Twitter that D'Aloisio was born after Yahoo was founded.
There was no price announced with the deal. However, All Things D reporter Kara Swisher says Yahoo paid just under $30 million. The app generated no revenue.
According to Crunchbase, Summly has raised $1.53 million in venture funding from an impressive list of investors.
A year later, the rest of the money came from people like Brian Chesky, the CEO and founder of AirBnb, Mark Pincus, the founder and CEO of Zynga, Ashton Kutcher, Yoko Ono, Wendy Murdoch, and a few other big names in tech.
When Steve Jobs opened the iPhone's App Store, Nick D'Aloisio was only 12-years-old.
D'Aloisio taught himself how to make an app. Three years later he launched his own startup, Trimit, which truncated a news story into 140 characters for people that wanted to tweet out stories.
He realized people didn't want to truncate the news. They wanted the news truncated for them. So, he flipped the app and made Summly.
Previously it was reported Summly only had 500,000 downloads, which is not much for an app. D'Aloisio says Summly has had "90 million summaries read," whatever that metric means.
Here's the release from Yahoo announcing the deal: