A London teenager has found himself at the center of today's hottest tech news, thanks to a multi-million pound deal with Yahoo.
Earlier on Monday, the search giant revealed its plans to acquire Summly, the news reading iPhone app and brainchild of 17-year-old Nick D'Aloisio. Terms of the deal weren't made public, but sites like BBC News have predicted D'Aloisio will become one of the youngest self-made millionaires in the world.
The app for Summly, which summarizes news from popular media companies, launched when D'Aloisio was only 15 and attracted more than a million pounds of investment, according to BBC News. Now the Wimbledon-based teen must decide what he'll do with all the money he's earned from his passion project.
As he told The London Evening Standard: "I like shoes, I will buy a new pair of Nike trainers and I'll probably get a new computer, but at the moment I just want to save and bank it. I don't have many living expenses."
Since he's too young to be the company's director, the money will have to go into a trust-fund while D'Aloisio prepares for his A-level exams to get into universityâ€”and works his day job at Yahoo. He'll still remain the majority shareholder and have deals with 250 online publishers, including Rupert Murdoch's News Corporation, to manage.