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article imageTeenager receives $1 million for creating app

By Richard Mccallum     Nov 5, 2012 in Technology
London - Founder of the Summly app, Nick D'Aloisi is in awe of the new found app's popularity and the $1 million in investment capital he has received from celebrities such as Ashton Kutcher and Mark Pinkus.
The creation of the new app christened Summly, which is a news summary for smartphones, began when the boy genius was studying for a history exam.
In order to research his schoolwork he was logging keywords into search engines Google and Bing and like many of us found the results wanting for accuracy.
While clicking on the result and returning to the key words it occurred to him that the whole process could be more efficient if he concentrated the search results in to a short summary.
The result was that a million dollar idea was born.
The first incarnation of the app was called Trimit which summarized articles into 140 character Tweets.
Trimit attracted a $300,000 investment from Hong Kong billionaire Li Ka Shing. The investment led to the first incarnation of Summly which the young inventor considered a demo, which attracted over 200,000 downloads upon its debut.
Returning to the proverbial drawing board DAloisi honed Summly into an effective research tool which can offer numerous articles from dozens of periodicals for browsing.
"The only way I see my age coming into this is that I bullt this for my age, my demographic."
, said D'Aloisi, whose father is a London based investment banker.
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