Yahoo Buys Coolness From Teenager for $30M

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There’s no logical explanation for Yahoo’s reported $30 million acquisition of Summly, an app created by a 17-year-old Brit that launched five months ago. The team and technology are unexceptional and the app itself will be shut down. What Yahoo really gets for its big check is momentum and buzz.

In other words, Yahoo bought Summly to appear cool again.

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Story added 26. March 2013, content source with full text you can find at link above.