Nick D’Aloisio invests in Swedish e-commerce start-up Tictail

Teen millionaire marks return to tech sector following Summly sale

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  • Ryan Platt

Summly founder Nick D’Aloisio has invested in Swedish e-commerce start-up Tictail, marking a return to the tech sector for the successful entrepreneur.

Young Gun D’Aloisio is one of several investors in Tictail, which allows retailers to design their own e-commerce store free of charge, with a strong focus on independent brands and retailers.

Founded in 2012 by Carl Waldekranz, Kaj Drobin, Birk Nilson and Siavash Ghorbani, the company has since seen more than 35,000 online stores created across 110 countries since its launch, with 10,000 in the UK.

D’Aloisio’s investment marks the 17 year old entrepreneur’s first independent return to the tech sector, following the sale of his news app Summly to net giant Yahoo! for an estimated £19m in 2013.

Created during revision for his mock GCSEs in 2011, Summly automatically summarised news stories in 40 words or less using a specially designed algorithm.

D’Aloisio now works at a project manager at Yahoo! and gave a speech alongside CEO Marissa Meyer at tech industry event CES last month.

His investment was part of a Series A funding round into Tictail, led by Thrive Capital in New York.

 

Ryan Platt

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