The 17-Year Old Kid That Sold His App For $30 Million

I wish and wish and wish upon a star that one day random people on the Internet who can’t pronounce my name will write blog posts about me.

Nick D’Aloisio.

You’ve probably heard of him by now. The 17-year old blew up over the Internet (not literally) this week when it was reported that he sold his app to Yahoo! for $30 million.

Nick D'Aloisio

The app is called Summly and basically it’s a news-aggregator.

Now when I heard about this, I was really taken aback. It just goes to show the power of mobile marketing. And in particular, the epicness of the app industry. For a school kid to become an overnight multi-millionaire is pretty inspiring.

And this isn’t even his first app.

D’Aloisio first produced an app when he was only 12 years old. He called it Fingermill. It was a treadmill for fingers. Not the most useful creation to mankind. But a unique creation nonetheless.

A few years later when he was studying for his General Certificate of Secondary Education in history, he felt a need. And that need was to have all the material he had to go through, automatically summarized so he could read faster.

Now unlike the rest of us (namely me), this kid didn’t just sit around and bitch about it. He went ahead and filled that need.

Trimit was born. An app that summarized long texts into 1000, 500 or even 140 characters. 140. That’s the length of a tweet.

He would later tweak and perfect Trimit into what is now the $30 million app – Summly. Entire pages of news articles can be broken down into just a few important points.

And I guess that’s the key here.

Find a problem. Solve that problem. Then sell it.

Now even though Yahoo! is the largest shareholder of Summly, there are in fact other investors. Ashton Kutcher and Yoko Ono. Just to name a few.

D’Aloisio took a sabbatical from high school to concentrate on further developing his app last year. Part of the mega sale was a position at Yahoo! which he has since taken up.

What I want to know is what he’s planning to do with that 30 million bucks.

Nick-DAloisio

A few months back I was asked what I would do with a million dollars. My answer was simple. Throw a massive pool party. So if I had 30 million..? THIRTY massive pool parties!

Um… maybe not.

I don’t know how true this is, and if so how long it will last… But D’Aloisio claims that he’s going to buy a new sling bag because his old one broke. And that the rest will go into a trust fund for his future.

Meh.

Either way, I have to admit I’m excited to see what else this kid has up his sleeves. Definitely one to watch over the next couple years.

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