Millionaire Teen App Maker Explains Who Helped Him Before Sale

Millionaire Teen App Maker Explains Who Helped Him Before Sale

Money isn’t everything – but if you’re 17 and made $30 million overnight, it certainly doesn’t feel too bad.

Millionaire Teen App Maker Explains Who Helped Him Before Sale

Nick D'Aloisio is the 17-year-old wunderkind everyone is talking about since Yahoo announced the purchase of his two-year-old app, Summly.

In an interview with CNN’s Ali Velshi on Wednesday, D'Aloisio explained that though he was the “sole founder” of the company, he did get help from some big names before Yahoo’s purchase.

“I was fortunate enough for the Hong Kong billionaire Lee Ka Shing to just cold approach me,” D'aloisio said – he was fifteen at the time.

Lee’s team was trying to work out a date to meet with D'Aloisio, but when they realized he was still in school, they decided to fly out and meet the schoolboy in person.

D'Aloisio said though he developed the original algorithm, he wasn’t the only person behind the app’s engineering. “We have a team of in-house scientists that have also been coding,” he said.

“We worked with Sanford S.R.I. – they are the guys who did Siri, for example. So they actually generated brand new I.P. – it wasn’t licenses. They didn’t have any staff, previously existing.

We built I.P. together, under an exclusive license. And then when we sold to Yahoo – all that I.P. was transferred over to them. So Summly and Yahoo owns 100% of the I.P.”

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