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

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