Summly Creator, Nick D'Aloisio Sells App To Yahoo for $30 Million

Summly creator, 17-year old British wiz kid Nick D'Aloisio is sitting pretty after recently selling his news-summarizing app to Yahoo on Tuesday. Since it's November release, Summly already had millions of downloads, but no plan on how to maximize profits.

But Yahoo has different plans for Summly. Unlike Facebook's Instagram buy-out (which left the app intact), Yahoo plans on destroying Summly, opting only to keep the math under the hood.

Yahoo hasn't released the deal's worth but Kara Swisher of All Things D told NPR D'Aloisio received an estimated, "$30 million...90 percent in cash and 10 percent in stock."

Automate This: How Algorithms Came to Rule Our World autho Christopher Steiner said, "The story of the next 20 years is the story of big data and algorithms."

So could these algorithms [basically, math] be the next tech bubble? Already used heavily finance, tech, medicine, sports and the music industry, Steiner says algorithm dependence will only increase. But how far will it go?

According to Steiner that depends on how companies react to the possibilities of just buying the science as opposed to the app itself.

During the dot-com boom companies dolled out huge sums into a myriad of websites, most of which failed.

Slashdot writer Nick Kolakowski believes the hype is a little pre-mature.

"A true tech bubble occurs only when irrationality takes over, and otherwise-sane investors start pouring fortunes into, say, Websites that specialize in pet accessories...nobody is going to confuse Google, Apple, or Amazon with Pets.com."

So maybe we're not to a "bubble" per say. But one thing is for sure. Summly creator Nick D'Aloisio's girlfriend of 10 months is a "very excited" young lady.