Now Nick is no ordinary 17 year old. He started programming when he was 12. His dad works for Morgan Stanley, and his mom is a lawyer. His company Summly has a number of high profile investors such as Ashton Kutcher. Nick is the majority owner of the company. As such, he will be keeping most of the $30M proceeds.
Many are wondering why Yahoo paid such a high price for an app they are shutting down. Summly only had 5 employees. It seems that only 2 of them are making the move to Yahoo. One thing is certain. Yahoo will be getting a lot of press out of this acquisition.
