A teenager from south-west London in the UK has sold an app he designed to Yahoo! in a deal believed to be worth tens of millions of euro.
Nick D'Aloisio created the Summly app at his home in Wimbledon. It offers users a quick and easy way of finding news stories on the internet.
In a statement the 17-year-old said: "When I founded Summly at 15, I would have never imagined being in this position so suddenly... With over 90 million summaries read in just a few short months, this is just the beginning for our technology."
@summly has signed an agreement to be acquired by Yahoo!! Excited for the next chapter of Summly! Thanks to all who have supported me.
— Nick D'Aloisio (@nickdaloisio) March 25, 2013
D'Aloisio has been placed in Forbes 30 under 30, Evening Standard 'Top 1000 Londoners' and received a Spirit of London Award in December 2012 for Entrepreneur of the Year.
He received his first investment at age 15 from Hong Kong billionaire Li Ka Shing which helped fund the creation of an early Summly prototype.
This received over 200,000 downloads and was chosen by Apple as its App of the Week in the UK and other countries.
