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British teenager has become multi-millionaire after selling app he created to web giant Yahoo. deal is reported to be worth up to $30 million and includes position working on Yahoo's future mobile projects. Nick D'Aloisio, 17, started his Summly app when he was just 15. He was studying for school exams and became frustrated at ploughing through lengthy online articles. He created app to summarise long reports so people could more easily digest content. Yahoo's boss of mobile content development Adam Cahan said: "It started with insight, that we live in world of constant information and need new ways to simplify how we find stories that are important to us, at glance."

Mr D'Aloisio started coding when he was 12 years old and developed bulk of his Summly app in his bedroom. He launched his app when he was 15 and it soon attracted over $1.5 million of investment, including from Hollywood stars Ashton Kutcher and Stephen Fry. acquisition by Yahoo makes British teen one of world's youngest self-made millionaires. He believes his tie-up with Yahoo is perfect, saying: "To me, Yahoo is best company to be joining right now because it's one of these classic Internet companies. With new leadership from Marissa Mayer, Yahoo has strong focus on mobile and product, and that's perfect fit for Summly."