The latest post on ‘ReadWrite’ is titled “Yahoo Buys Summly — Paying $30M To Kill The App, But Keep Its 17yo Founder”.

Nick Statt says, “Yahoo has made another bold move in the mobile space by acquiring news reading appSummly. While the deal is not yet closed, sources tell AllThingsD that Yahoo ponied up $30 million in cash.

That hefty sum is notable because Yahoo is also killing the Summly app, but holding onto its creator Nick D’Aloisio, who built it in his London home two years ago when he was just 15. Yes, you read that right. The charismatic English entrepreneur is only 17 years old, and he’s managed to put his creation in the hands of nearly a million users since its December 2011 launch while raising $1.5 million from big names like Horizon Ventures”.

Yahoo Buys Summly — Paying $30M To Kill The App, But Keep Its 17yo Founder

ReadWrite

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