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March 26th, 2013
02:25 PM ET

Yahoo pays a large sum for Summly

Yahoo was already around two years old by the time app developer Nick D'Aloisio was born. Now the Internet giant is paying the teen millions of dollars to acquire his mobile start-up, Summly.

Neither side has released details of the deal. But we do know the 17-year-old will go to work for Yahoo... while still doing homework.

D'Aloisio tells News Stream, "I’ll be focusing on other projects on the side as well as finishing my A-level exams. But I’m really going to be focusing on integrating summarization technology at the heart of Yahoo’s mobile solution. These summaries that we provide make it a lot easier for users to consume content and information when they’re on their mobile screen. So it’s really exciting to be working with Yahoo and Marissa Mayer on this."

But this deal is notable for much more than D'Aloisio's age. It tells us that Yahoo's Marissa Mayer is interested in making Yahoo relevant for the mobile space.

A string of CEOs before her have tried and failed to figure out what Yahoo does. Mayer has made many internal changes since taking the helm. But her broader vision for the company still remains to be seen.

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