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Profile of a teenage tech millionaire – Nick D’Aloisio sells Summly app to Yahoo! for £20 million

Having just bagged a monstrous amount of money after selling his Summly app, 17-year old Nick D’Aloisio explains that although his bank balance has changed, he remains the same.

The Summly app summaries web articles of all kinds into three concise paragraphs for easier reading whether studying, catching up on news or just browsing through general interest pieces. Not surprisingly the idea came to him while he was studying for an exam and his on-line research produced large amounts of irrelevant information and repetition.  Even less surprising is that this highly efficient method of reading on-line is hugely popular, having been downloaded a million times since 2011, amounting to 90 million condensed articles.  The young entrepreneur is set to be the next jeans and t-shirt wearing CE of a major software corporation (can you say Zuckerberg?).  The deal sealed with Yahoo! means that not only will he get the cash but he now has a full-time job working from their London office.  D’Aloisio has since taken a sabbatical from school (after negotiations with his parents) and does schoolwork in the evenings, which consist of A-level Maths, Physics and Philosophy.  He admitted to The Telegraph that he’s ‘quite obsessive’ – his passion for education also involves studying Russian and Mandarin.

The teenager travels to international business trips with his mother, plays rugby and cricket on the weekend and has a girlfriend while holding down a job, studying in the evening and planning future business endeavors like a new tech start-up and angel investing.  He said of his new circumstances, “I don’t feel like a different person. My motivation has always been to do technology apps and companies, not making money. Just because the money’s come, nothing’s changed.”

 

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