Yahoo! acquires Summly and continues its investments in mobile

by bold-lichterman

After Jybe last week, Yahoo! pursues its acquisitions in the mobile sector through the acquisition of the Summly application, a news aggregator created in 2011 by Nick D’Aloisi, then 15 years old.

Summly is an application offering, thanks to its algorithms, automatic summaries of news articles in 400 characters. Its users can select interest categories and access source articles directly through the app.

Despite recurring formulation problems, Summly and its founder had no trouble convincing investors by increasing the number of fundraisers: $ 300,000 when the application was launched then $ 1.23M a year later, from investors like Li Ka-Shing and Horizons Ventures, Mark Pincus (co-founder of Zynga) but also Ashton Kutcher, Yoko Ono and Wendy Murdoch… The amount of the transaction, not disclosed by Yahoo !, could reach $ 30M according to AllThingsD.

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If the application should be removed from the AppStore during the day, its technology will be integrated into the products developed by Yahoo! in the mobile sector, the main focus of development for the American giant since the arrival of Marisa Mayer at its head.