Absolute interestingly, meet Nick D'Aloisio, the 17-year-old British entrepreneur who just sold his popular news-reading app to Yahoo Inc. for close to $30 million, instantly becoming one of the world's youngest self-made millionaires.
To move ahead with the real story...
It’s the classic Silicon Valley success story of a young software prodigy striking it ridiculously and improbably big.
Fact-fully, D’Aloisio, who taught himself to write software at age 12, built the free iPhone app Summly which automatically summarizes news stories for small screens in his London bedroom in 2011. He was just 15 years old. Soon he had backing from Horizons Ventures, the venture capital arm of Hong Kong billionaire Li Ka-shing and big names such as Zynga Inc.’s Mark Pincus and actor Ashton Kutcher.
Before it was pulled from the app store Monday after the announcement of the Yahoo deal, D’Aloisio’s app Summly had been downloaded nearly 1 million times. It had deals with 250 online publishers, including News Corp., and 10 employees in London. Not bad for a high school student!
Truly thinks and lives in the mobile world...
D’Aloisio said in an interview to him, Yahoo is the best company to be joining right now because it’s one of these classic Internet companies and with new leadership from Marissa Mayer, Yahoo has a strong focus on mobile and product, and that’s the perfect fit for Summly.
Mayer, the former Google Inc. executive who took over the Sunnyvale, California company last summer, has focused on mobile technology to revive Yahoo’s lagging fortunes while she has snapped up a number of promising mobile start-ups as much for their personnel as for the innovation.
According to Yahoo mobile chief Adam Cahan, in D’Aloisio, Yahoo is getting someone who truly thinks and lives in the mobile world. Rather than browsing the Web by clicking a mouse, more people are connecting to the Internet with their smartphone or tablet, changing what kind and how much information they consume. It seems Silicon Valley companies such as Facebook and Yahoo are looking to adapt their Internet businesses to hold on to consumers who want easier, faster ways to find what matters to them.
Cahan said that summly solves this by delivering snapshots of stories, giving you a simple and elegant way to find the news you want, faster than ever before.
Full time focus on Summly...
D’Aloisio, who took a break from school for six months to focus full time on Summly, will join Yahoo’s London office while continuing his studies in the evenings and living at home with his parents while he added that Yahoo plans to integrate Summly into all sorts of mobile experiences. The real idea is to take the core of the technology and find different fits for it and make it as ubiquitous as possible on the Web.
Quiet interestingly, he says his parents his dad is an energy financier, his mother is a lawyer who will help him manage the financial windfall (he says all he wants is a new computer and pair of Nike trainers) that they want to take summarisation and build beautiful content experiences around it but he says he was not driven to the deal by dollar signs.
D'Aloisio said that Technology has really been the driver behind this whole deal and he can’t wait to see how it plays out at Yahoo.
Millions at a very young age...
D’Aloisio is just one of a number of under-21 entrepreneurs who have made millions at a very young age. Patrick Collison, who took his first computer class at age 8 and entered young scientist competitions as a teen in Ireland, was just 19 when he and his brother John sold their Silicon Valley start-up Auctomatic to Canadian company Live Current Media Inc., a deal that made them overnight millionaires.
Collison, who is now co-founder and chief executive of San Francisco payments start-up Stripe said that it was helpful perspective to have something like that happen very early on. It shows you that it’s not all that big a deal and that it’s wonderful to create something that someone is interested in acquiring, and it’s nice to have more money than you had before, but really nothing changes. Enjoying what you do on a day-to-day basis is what’s important.
As a concluding fact, D'Aloisio The sudden flash of worldwide media attention has been a bit overwhelming but not in a bad way as it’s been an absolutely awesome experience and that he would love to do it again someday with another company.
He indeed spoken like a true entrepreneur!
A true genius a true success!
(AW:Samrat Biswas)
