An app created by a UK teenager has been acquired by web giant Yahoo in a deal the BBC understands to be worth "dozens of millions" of pounds.

Seventeen-year-old Nick D'Aloisio's Summly app summarises news stories from popular media companies.

Neither company would disclose the terms of the deal publicly.

The app itself will now close, but its features will be used in mobile products at Yahoo, where Mr D'Aloisio has been given a job.

He will be joined by several of Summly's "top staff" in new roles at Yahoo in the next few weeks.

The app launched when Mr D'Aloisio was aged just 15, and soon attracted more than £1m of investment. He is now likely to be one of the world's youngest self-made multi-millionaires.

Speaking to the London Evening Standard, the Wimbledon-based teen said: "I like shoes, I will buy a new pair of Nike trainers and I'll probably get a new computer, but at the moment I just want to save and bank it.

"I don't have many living expenses."
'Fantastic team'

In a note on the Summly blog, Mr D'Aloisio wrote on Monday: "When I founded Summly at 15, I would have never imagined being in this position so suddenly.

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

"Without you all, this never would have been possible. I'd also like to thank my family, friends and school for supporting me."

Yahoo's senior vice president of mobile, Adam Cahan, said the company was "excited" to have Mr D'Aloisio and his colleagues on board.

"For publishers, the Summly technology provides a new approach to drive interest in stories and reach a generation of mobile users that want information on the go," he wrote.

http://www.bbc.co.uk/news/technology-21924243

When will Facebook and Nairaland spend money on the teeming tech-savvy Nigerian youth making use of their sites and apps? Is it that we're are not innovative enough - lacking requisite tech skills, or that our talents are yet to be appreciated by the government and private sector? Perhaps it could be that we're just heavy users and not innovators - using without adding value. I think this is a wake up call for Nigerians to challenge the domestic and global players with our handiwork. Nigerians I believe U!

When will Facebook and Nairaland spend money on the teeming tech-savvy Nigerian youths making use of their sites and apps? Is it that we're are not innovative enough - lacking requisite tech skills, or that our talents are yet to be appreciated by the government and private sector? Perhaps it could be that we're just heavy users and not innovators - using without adding value. I think this is a wake up call for Nigerians to challenge the domestic and global players with our handiwork. Nigerians, I believe U!

So, to all our lazy nairalanders who keep shouting:
"abeg, I cant read, it is too long" or "Am I mad? Summaray please!" or "I cant fit read all these thng, make sumbodi summarise am for me". Summly is for you. Buy it and start summarising your life. Kudos to the teen prodigy.
If only a smart app developer had done somethng like that for the sake of all those whining NLrs...if only.