News17-Year-Old Summly Developer Now a Millionaire

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Seventeen-year-old British developer Nick D’Aloisio has had an experience that many in the mobile development industry only dream about—Yahoo has purchased his mobile app Summly for a reported $30 million. D’Aloisio’s app uses a unique algorithm to shorten news articles, making them more digestible for reading on smartphones and tablets.

In addition to his big pile of cash, D’Aloisio also has a new job. He’ll be working at Yahoo’s London offices—when he can get out of his high school classes, that is. “I’ve still got a year and a half left at my high school,” D’Aloisio explained. As for the millions, he said, “It’s going to be put into a trust fund and my parents will help manage it.”

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