Join Hands to Build a Smarter India: Sign in | Join now

Was Yahoo Cheated By Summly In The Startup Deal?

By SiliconIndia  |   Wednesday, 10 April 2013, 23:03 Hrs
cmt right
Comment Right
cmt right
cmt right
Printer Print Email Email

Bangalore: CEO of Yahoo, Marissa Mayer is now concentrating on growing the company further with the acquisition of various small startups which include names like Stamped and Summly. The startups are being acquired for over millions of dollars.

Recently a startup ‘Summly’ was acquired for $30 million by Yahoo as it mainly dealt with providing smartphones with an app for news aggregation. The seventeen year old CEO, Nick D’Aloisio is a high school student from London who is the brain child of this startup. Though the startup has not managed to win many users it won a big deal unlike other startups in the same vertical.

Also, its technology was not built by its own employees but by an organization called the SRI International. Its app was built by a company called Somo, a mobile marketing agency in the U.K, reports yahoo.

"Basically, Nick developed the original code for Summly.", says a spokesperson at SRI, as reported by the business insider. Also, the outsourcing of the startup’s technology and app development is the work of the startup’s CEO.

Yahoo’s acquisition of Summly was mainly a part of a deal with SRI in exchange for summarization technology, what the CEO believes is "going to be huge for Yahoo", as reported by the business insider. "After the original product was built, SRI supported development of the technology and provided artificial intelligence expertise in machine learning and natural language processing."

Also Read:
Goddess Durga's Team Empowerment Lessons For Startups
John Abraham Named Creative Entrepreneur Of The Year

Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Ather Mohammad A
Sr. Executive
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
Reena Khanna
Dellas  Asse
sys-network admin
Computer Station
Follow SiliconIndia :
Write your comment now
Submit Reset
SiliconIndia About Us   |   Contact Us   |   Help   |   Community rules   |   Advertise with us   |   Sitemap   |  
News:       Technology   |   Enterprise   |   Gadgets   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Newsletter   |   News archive  
Cities:        CEO   |     Startup   |   Mobile   |   CIO   |   Women   |   BI   |   HR   |   SME   |   Cloud   |   Marketing   |   QA   |   Java   |   Web Developer  
Community:      Members   |   Blogs   |   Indian Entrepreneurs   |   Gyan   |   Advice   |   Community   |   Find   |   CXO Insights  
Job Board:      Jobs   |   Freshers   |   Companies   |   HR Speak   |   Forum  
Online Courses:   Web Developer   |   Java Developer   |   CCNA Training   |   SEO   |   SAS   |   SQL Server 2005   |   J2EE
Education:   MBA   |   MCA   |   Engineering   |   Training Institute
Life:          Real Estate   |   Travel   |   Finance   |   Gadgets   |   Movie Reviews   |    Jokes  
Send your feedback and help us continue to improve SiliconIndia
© 2015 InfoConnect Web Technologies India Pvt Ltd. all rights reserved