Yahoo buys news app Summly from teenager

#1

Post by soitgoes » Mon, Mar 25, 2013, 2:45 PM UTC

Yahoo buys news app Summly from teenager
bbc.co.uk

Re: Yahoo buys news app Summly from teenager

#2

Post by anu_gupta » Mon, Mar 25, 2013, 4:08 PM UTC

...and shuts it down.

Re: Yahoo buys news app Summly from teenager

#3

Post by alanbyrne » Mon, Mar 25, 2013, 4:35 PM UTC

anu_gupta wrote: post #2

...and shuts it down.

I don't understand why they did that... couldn't they have just offered him at job at £200,000 a year? I'm sure he'd have accepted.

Edit: Typo

Re: Yahoo buys news app Summly from teenager

#4

Post by mchusma » Mon, Mar 25, 2013, 4:37 PM UTC

This sounds like an acquihire to me: -Shutting the product down -Deal is worth "millions" which could mean $2M

My guess is nobody is being made a multi-millionare off this. But I'm not playing a tiny violen, getting acquihired is actually rare/hard to do so good job to them and the team.

Re: Yahoo buys news app Summly from teenager

#5

Post by TallGuyShort » Mon, Mar 25, 2013, 4:46 PM UTC

mchusma wrote: post #4

This sounds like an acquihire to me: -Shutting the product down -Deal is worth "millions" which could mean $2M My guess is nobody is being made a multi-millionare off this. But I'm not playing a tiny violen, getting acquihired is actually rare/hard to do so good job to them and the team.

"Dozens of millions of pounds" => > 24M

Re: Yahoo buys news app Summly from teenager

#6

Post by al3xdm » Mon, Mar 25, 2013, 4:46 PM UTC

mchusma wrote: post #4

This sounds like an acquihire to me: -Shutting the product down -Deal is worth "millions" which could mean $2M My guess is nobody is being made a multi-millionare off this. But I'm not playing a tiny violen, getting acquihired is actually rare/hard to do so good job to them and the team.

He appeared on the BBC News channel (here in the UK) earlier this afternoon and it was suggested, though not confirmed, to be in the dozens of millions (£ not $).

Re: Yahoo buys news app Summly from teenager

#7

Post by jonascopenhagen » Mon, Mar 25, 2013, 4:46 PM UTC

mchusma wrote: post #4

This sounds like an acquihire to me: -Shutting the product down -Deal is worth "millions" which could mean $2M My guess is nobody is being made a multi-millionare off this. But I'm not playing a tiny violen, getting acquihired is actually rare/hard to do so good job to them and the team.

I don't know if they edited the article, but right now it says "dozens of millions of pounds", which would mean at least £24 million, or roughly $36 million.

Re: Yahoo buys news app Summly from teenager

#8

Post by rssident » Mon, Mar 25, 2013, 4:53 PM UTC

Hey Yahoo... maybe you want to buy a news search engine?

http://rssident.com