Mr. D'Aloisio became a minor tech celebrity, and his efforts garnered numerous print-media articles and TV appearances.
Mr. D'Aloisio has sold the free newsreader app he began developing at age 15 to Yahoo Inc.
Seventeen-year-old Nick D'Aloisio's Summly app summarises news stories from popular media companies.
Although the Yahoo acquisition won't close until later this spring, D'Aloisio said the Summly will no longer be available.
To help with the launch, Mr. D'Aloisio raised funding from Zynga Inc.
Last fall, when Mr. D'Aloisio was seeking financing, he said "a number of companies approached us" about a possible acquisition.
In a statement on the Summly website, teenager D'Aloisio paid tribute to his friends, family and users while adding that Yahoo!
Yahoo's senior vice president of mobile, Adam Cahan, said the company was "excited" to have Mr D'Aloisio and his colleagues on board.
In 2011, Mr. D'Aloisio founded his company, at the time called Trimit.
The London-based company was commissioned by Mr D'Aloisio to create an Android version of the Summly app - which was days away from launch.
The app itself will now close, but its features will be used in mobile products at Yahoo, where Mr D'Aloisio has been given a job.
Mr D'Aloisio took time off school to develop his idea for a smartphone application that offers summaries of existing news stories published on the net.
Although the details of the deal are not disclosed, the acquisition is likely to make a millionaire of teenager D'Aloisio, who will now join Yahoo!
D'Aloisio is younger than Yahoo, which was incorporated in March 1995.
Seventeen-year-old Nick d'Aloisio, who dreamed up the idea for the content-shortening program when he was studying for his exams, said he was surprised by the deal.
D'Aloisio started the company when he was 15 and quickly attracted investors, including Hong Kong billionaire Li Ka-Shing and Hollywood stars Ashton Kutcher and Stephen Fry.
Other investors in Summly, Mr. D'Aloisio said, include Wendi Murdoch, wife of Rupert Murdoch, the chief executive and chairman of Wall Street Journal owner News Corp.
Mr. D'Aloisio has met with a number of Valley luminaries, including Apple's senior vice president of industrial design Jonathan Ive, according to people familiar with the conservations.
This week, 17-year-old Londoner Nick D'Aloisio sold his app called Summly - which offers summaries of existing news stories published on the net - for what was reportedly millions of pounds.
Summly -- the brain child of London-based boy genius Nick D'Aloisio -- delivers automated snapshots of news stories to its users on mobile devices and formats articles for the small screen.
Adam Cahan, a Yahoo senior vice president, said in an interview on Monday that Mr. D'Aloisio was an "exceptional" talent and that Yahoo did "extensive" testing of Summly's algorithm, or mathematical formula, for condensing news articles.
Carlo Aloisio, a futures and options vice president at UniCredit in Milan, said investors are awaiting the reaction of Italy's political leaders to the gridlock election result before deciding what to do next with their positions in the market.
Franco Aloisio, President of the Parada Foundation created in the mid 90s to help children living in the sewers in Bucharest, said the problem still existed in the city particularly in winter when temperatures drop to minus 15C but there had been an improvement.
Mr. D'Aloisio, who lives with his parents and younger brother near the southwest London suburb of Wimbledon, said he will stay at home for the time being and remain on a kind of sabbatical from King's College School while continuing to take some "exams outside of school" in order to prepare for eventual university enrollment.
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