Yahoo pays millions for Oz teen's app

Yahoo! has reportedly paid up to $58 million to a UK teen for his Summly news app. Above, Yahoo CEO Marissa Mayer is leading the company's efforts to reinvent itself. Picture: AP/NBC Source: AP

YAHOO! announced plans Monday to buy mobile news reader app Summly from the London teenager who invented it, likely transforming him into one of the world's youngest self-made multimillionaires.

The company did not disclose the terms of the deal it struck with 17-year-old Nick D'Aloisio, but the London Evening Standard said Yahoo! would pay between 20 million and 40 million pounds  ($29 million to $58 million).

"We're excited to share that we're acquiring Summly, a mobile product company founded with a vision to simplify the way we get information, making it faster, easier and more concise," Yahoo! said in a statement.

"At the age of 15, Nick D'Aloisio created the Summly app at his home in London. It started with an insight - that we live in a world of constant information and need new ways to simplify how we find the stories that are important to us, at a glance."

Yahoo! said most articles and web pages were formatted for browsing with mouse clicks and that "the ability to skim them on a phone or a tablet can be a real challenge - we want easier ways to identify what's important to us."

The California firm said that "Nick and the Summly team are joining Yahoo! in the coming weeks."

D'Aloisio said in a tweet: "@Summly has signed an agreement to be acquired by Yahoo!! Excited for the next chapter of Summly! Thanks to all who have supported me."

The Evening Standard said the Wimbledon youth, who would become one of the world's youngest technology millionaires, claims to have created the app as a hobby.

"I didn't realise it was possible to make money out of it," he was quoted as saying.

About the new inflow of cash, the youth 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."

Former Google executive Marissa Mayer took over at Yahoo! in July 2012 as part of efforts by the struggling Internet search pioneer to reinvent itself.
 

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Upton accepts teen's prom invite

Jake Davidson is a Los Angeles teenager with a simple dream: Taking model Kate Upton to his senior prom. Courtesy YouTube/Talia Myers

A HIGH School student has received the shock of his life when model Kate Upton agreed to go to his prom.

Jake Davidson from Los Angeles made a two-minute YouTube video asking the Sports Illustrated cover girl to consider accompanying him to the event.

"I'm Jewish, 5'9" on a really good day - and I can't dance. At all," he jokes in the video. "You're Christian, 5'10", and that Cat Daddy video should have won an Oscar for best short film. You could say this is destiny.”

He argues that despite this the pair have a lot in common.

“You like sports, I like sports," he says. “You like fine dining, I like fine dining. You’re on the cover of Sports Illustrated. I read Sports Illustrated."

The 17-year-old was left speechless when he was discussing the video on the US Today show and Upton called in.

“This just got so much better now that you’re on the phone. I’m telling you it will be a great night, great evening – I could even get the curfew extended hopefully by my parents maybe," he said. "I hope you’d be interested if your schedule is free, and what time should I pick you up if you are interested?”

US model Kate Upton has agreed to be a 17-year-old's prom date if her schedule allows.

“I definitely have to check schedules, but you seem like so much fun and if everything works out, I’d love to go with you," Upton said. “I know we’d have a blast

“I absolutely love the video,’’ Upton said. “It was so hilarious and so creative. Thank you so much for doing that, I really appreciate it."

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