The news summarising iPhone app developed by a time-saving school boy
Founder: Nicholas D’Aloisio
Launched: November 2012
When Horizons Ventures and a host of high profile angel investors including Stephen Fry, Yoko Ono, and Ashton Kutcher choose to invest close to £1m in a 17 year-old app developer, it’s safe to assume this is not your average schoolboy venture.
Reducing the time wasted sifting through useless information, Summly collates news articles from around the web and summarises them in 400 characters, using developed technology that mimics how a human thinks.
The iPhone app is the brainchild of 17-year-old Londoner Nicholas D’Aloisio, who developed the idea at the age of 15 and went on to become the youngest person ever to receive venture capital backing in the same year. Since then California’s Stanford University has helped to develop Summly’s algorithm and has a stake in the company too.
Officially launched in November 2012, Summly has impressed time-restricted users worldwide, reaching 500,000 downloads in the first four weeks and featuring as the number one news app in 28 countries.
With a content sharing deal already in place with News Corp, Summly aims to secure similar deals in the future, while plans to develop the app for Android and across a variety of languages are also in place for 2013.