Yahoo Acquires Summly “pocket sized news for iPhone” TechnologyI've always found iOS devices good for consuming content. Hence when I got to know about Yahoo's acquisition of mobile product company Summly, which has an app billed as “pocket sized news for iPhone”, it appeared a good acquisition.
Under the deal terms, Summly Founder Nick D’Aloisio and his team will join Yahoo in coming weeks, and the Summly app will be shut down. That's Yahoo is acquiring the technology, and will develop a similar product or some other product for its own mobile offerings.
Summly Founder Nick D’Aloisio created the App when just 15 Years Old:
At the age of 15, Nick D’Aloisio created the Summly app at his home in London. This is just November 2011. The idea behind the app was — with increasing content consumption on mobile devices how to simplify discovery of news and information that are important to us, at a glance. And articles and web pages formatted for browsing with mouse clicks, definitely not suit mobiles.
Summly offers a solution to this problem by delivering snapshots of stories, giving a reader a simple and elegant way to find the news you want, faster than ever before. Summly offers simple browsing and condensed summaries from news outlets to get the point across, and quickly allows you to digest what’s happening in the world. Summly users read over 90 million summaries in just a few short months, since the app is launched.
The acquisition is expected to close in the second quarter. Terms of the deal are not being disclosed.