Yahoo's Odd App Acquisition

From Talking Points Memo:
A few weeks ago, Yahoo made headlines when it acquired Summly, a startup run by a 17-year-old CEO named Nick D’Aloisio for $30 million. Summly is a news aggregation app.  We thought the deal was weird. . . .

Now we’ve learned another piece of information that makes the deal stranger. Not only did the Summly team not invent the app’s technology, they also did not build the app. A company called Somo did . . . So here is what Yahoo did: It “aqui-hired” a team of people, led by a 17-year-old living in London, that cannot claim to have invented a cool technology OR to have built a cool app.
What could be going on here?  Is this just incompetence?  Or is it something more nefarious?

No comments:

Post a Comment