Yahoo acquires Summly

Summly has signed an agreement to be acquired by Yahoo.

Speaking on the agreement, Nick D'Aloisio , founder, Summly said "Our vision is to simplify how we get information and we are thrilled to continue this mission with Yahoo's global scale and expertise. After spending some time on campus, I discovered that Yahoo has an inspirational goal to make people's daily routines entertaining and meaningful, and mobile will be a central part of that vision. For us, it's the perfect fit."

I would personally like to thank Li Ka-Shing and Horizons Ventures for having the foresight to back a teenager pursuing his dream and Also to our investors, advisors and of course the fantastic team for believing in the potential of Summly added Nick.

Summly was awarded Apple's Best Apps of 2012 award for Intuitive Touch.

With over 90 million summaries read in just a few short months, this is just the beginning for our technology. The company is planning to move towards a more refined, liberated and intelligent mobile web as the company moves forward.

 

Nick D'Aloisio launched Summly in December 2011 as a tech summarization prototype that garnered significant interest worldwide. With backing from Horizons Ventures, and help from many natural language processing and artificial intelligence experts around the world, Nick and the Summly team have been able to further develop summarization technology, the first result being the new Summly mobile news app.

Angel Investors and Advisors for Summly include; Ashton Kutcher, Betaworks, Brian Chesky, Hosain Rahman, Jessica Powell, Joanna Shields, Josh Kushner, Mark Pincus, Matt Mullenweg, Seb Bishop, Shakil Khan, Spencer Hyman, Stephen Fry, Troy Carter, Vivi Nevo, Yoko Ono and many more.