Today's Hard|Forum Post
Today's Hard|Forum Post

Wednesday April 10, 2013

The Real Reason Yahoo Bought That Kid's Startup For $30M

For over a month, no one really knew why Yahoo spent $30 million on a seventeen year old kid's company that didn't even design or build the app it was selling. Business Insider has the answer (now the whole thing makes sense).

So why, exactly, did Yahoo buy Summly? We finally have an answer! Acquiring Summly seems to have been an almost incidental side effect of a deal Yahoo made with SRI for a piece of "summarization technology." A source tells us that Yahoo has "agreements in place" with SRI for "knowledge transfer," and the acquisition of IP, code, and technology.