Monday, March 25, 2013

Yahoo Acquires Summly

Sunnyvale-based Yahoo said Monday that it has acquired Summly, a mobile applications firm headed by 17-year old Nick D'Aloisio. Summly provides snapshots of stories pulled from articles and web pages, making it easier for mobile users to browse and find news. Yahoo said that it will be closing Summly's apps as part of the acquisition, but will incorporate that technology into Yahoo's mobile services. Financial details of the acquisition were not disclosed, however, the acquisition has been pegged at $30M.