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A 17-year-old Londoner, who has Australian parents and grew up in Australia, has sold his news app Summly to Yahoo for what is believed to be around £18m.

Nick D'Aloisio, from Wimbledon, South London, grew up in Melbourne and Perth before moving to the UK aged seven.

D'Aloisio invented the app aged 15 while studying for his GCSEs.

"I was writing for my history labs and I was using Google and other search engines," said D'Aloisio.

"The issue was you have all this info but there's so much it's hard to comprehend it, so summaries are perfect.

"It's not so much we're trying to substitute content or dumb it down, we want to entice people to read the full story," D'Aloisio told News.com.au.

"By reading a summary you're more likely to want to read the article."

D'Aloisio's app has garnered some big time investors in previous months including the British polymath and technology enthusiast Stephen Fry and Hong Kong Billionaire Li Ka Shing.


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Teenage Aussie-Londoner Nick D'Aloisio sells Summly app to Yahoo! for 'millions'
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