Nick D’Aloisio was only 12 years old when the App store opened. After self teaching mobile application development for three years the teenager would go on to launch his own startup, Trimit, which summarized news articles into 140 words for tweets. Soon they released an app called Summly which became a hit at the apple store.

It seems Nick identified what customers and users wanted in their news app. We all are very  busy people and we don’t have much time to spare for news reading but yet we want to know everything that is going on everywhere. Looks like Nick hit a jackpot here when he decided to develop a news app that not only gives you news of your interest but also summarizes its contents.

Seeing the growing potential of this App, Yahoo has decided to acquire the 15 year old’s startup for a whopping $30 million. It seems both Yahoo and Nick are happy. Both have released statements regarding the acquisition. Nick will now be working in Yahoo along with the rest of the Summly team. In the statement Nick said that Summly had over 90 million summaries read in just few months and this was just beginning for this app. Summly previously had raised its venture funding from a number of high profile people such as Hong Kong Billionare Li Ka-shing, the founder and CEO of Zynga Mark Picus, Ashton Klutcher and Yoko Uno


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