YAHOO chief executive Marissa Mayer on Tuesday revealed the result of the firm’s $30m (£18.2m) purchase of Summly – the startup created by British teenager Nick D’Aloisio last year.
D’Aloisio, product manager of mobile and emerging products at Yahoo aged just 18, took to the stage during Mayer’s keynote at the Consumer Electronics Show in Las Vegas to reveal Yahoo News Digest, a new app that delivers short news summaries of key stories from the day.
“With Summly, we learned that people don’t necessarily have the time to read a lengthy article, especially when they have limited screen real-estate while they’re on the go,” said D’Aloisio. “We’ve taken summarization to the next level... by algorithmically and editorially selecting the important articles.”
Mayer also introduced a number of new Yahoo Magazines – online publications that curate the very best online articles each day – starting with Yahoo Food and Yahoo Tech.
Since joining the Yahoo in July 2012 Mayer has led the company to acquire over 30 companies, including Summly, and the company’s share price has jumped more than 175 per cent since her arrival.