A few weeks ago, Yahoo made headlines when it acquired Summly, a startup run by a 17-year-old CEO named Nick D’Aloisio for $30 million. Summly is a news aggregation app. We thought the deal was weird. . . .What could be going on here? Is this just incompetence? Or is it something more nefarious?
Now we’ve learned another piece of information that makes the deal stranger. Not only did the Summly team not invent the app’s technology, they also did not build the app. A company called Somo did . . . So here is what Yahoo did: It “aqui-hired” a team of people, led by a 17-year-old living in London, that cannot claim to have invented a cool technology OR to have built a cool app.
Yahoo's Odd App Acquisition
From Talking Points Memo: