No kiddin’, this tech titan is all of 17

Written By Unknown on Selasa, 26 Maret 2013 | 10.46

In some ways, Nick D'Aloisio is your typical high school kid — he has a girlfriend, his mom is on his case to clean his room, and he has a curfew.

But he did just sell his tech startup for about $30 million.

The 17-year-old Brit is the founder of Summly, a mobile app he developed that searches for snippets of news and makes them better suited for mobile devices — which D'Aloisio sold to Yahoo!

He will now work for Yahoo! CEO Marissa Mayer and become the company's youngest employee.

D'Aloisio built Summly from his bedroom when he was just 15 and attracted big investors like Hong Kong billionaire Li Ka-shing and Ashton Kutcher.

NICK D'ALOISIO - The $30 million teen.

NICK D'ALOISIO
The $30 million teen.

His mobile app was a hot pickup for Yahoo!, and D'Aloisio said it took months to come to terms.

"There were other big Internet companies interested, but Yahoo! was the most appropriate," the teenager told The Post yesterday. "Yahoo! is just one of these classic companies."

The price was not disclosed, but AllThingsD reported it was $30 million — 90 percent in cash and 10 percent in stock.

Yahoo! in turn gets a new mobile product as part of its broader strategy to entrench its brand on smartphones and tablets.

"Yahoo! has an inspirational goal to make people's daily routines entertaining and meaningful, and mobile will be a central part of that vision," D'Aloisio said in his blog post announcing the acquisition. "For us, it's the perfect fit."

The high-schooler said he plans to invest his new-found fortune; no big-ticket purchases yet. He still lives at home and will commute to Yahoo!'s London office via "the tube."

"It's my first job," he said, and he starts in two weeks.

The mop-topped, sleepy-eyed teen said his girlfriend of 10 months is "very excited."

D'Aloisio joins the ranks of an ever-younger list of high-paid tech founders, though there are precedents. In New York, Alex Godin co-founded Dispatch, a startup valued in the millions, at the age of 17,

"The tech industry is unlike almost any other industry," Godin said yesterday. "Being young is actually helpful."

Dispatch has raised almost $1 million in its short existence. Godin is now 19 and has been through similar experiences to D'Aloisio's, having to contend with high school and his teenage years while also committing to a fledgling company.

gsloane@nypost.com


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