Changing the Way People Read

Young entrepreneur Nick D’Aloisio is declaring that he is “changing the way we read.”

Nick D’Aloisio was born in Melbourne Australia; however his family moved to the United Kingdom when D’Aloisio was seven and he grew up in London. He was a student at the predominantly male, particularly high achieving private school King’s College School in Wimbledon, London, where he received an academic scholarship. He lives in London, with his mother, father and younger brother Matthew, 14. D’Aloisio is currently 19 and is a computer programmer and an internet entrepreneur.  He currently attends the Hertford College at Oxford University where he is studying Computer Science and Philosophy.

Though Nick is still very young, he is already gaining a lot of national recognition as an entrepreneur.  In fact, he was recently named Innovator of the Year by the Wall Street Journal for his app, Summly.

D’Aloisio first started creating apps when he was just 15.  In March in 2011, D’Aloisio created Trimit, an application for iOS which uses an analytical tool to condense text content into 1000, 500, or 140 character summary text.  Trimit caught the attention of many, including Apple.  Most importantly, however, it caught the attention of Hong Kong billionaire Li Ka-shing.  Li Ka-shing met with D’Aloisio and decided to provide him with $300,000 in venture capital funding.  This funding makes him the world’s youngest venture capital-backed entrepreneur ever at the age of 15.

So, D’Aloisio used the funding provided by Ka-shing to redesign Trimit in December of 2011.  He renamed the app Summly and it was soon thereafter downloaded over 200,000 times.  Summly continued to grow, and the app was downloaded by more and more users.  Eventually, almost a year after D’Aloisio changed the name to Summly, he received more venture capital funding to further develop and promote his app.  This time, however, Nick received $1,000,000 in funding and not only from Li Ka-shing.  D’Aloisio also received funding from numerous international celebrities such as Ashton Kutcher, Stephen Fry, Rupert Murdoch and Yoko Ono.

With this investment, D’Aloisio really started loading up his team of processors and scientists.  Nick eventually contracted a team of Israeli coders, and also hired scientist Inderjeet Mani.  With these hires, Summly really started to pick up speed and became recognized by a lot of major technology firms.

When Nick turned 17, however, he sold Summly to Yahoo for $30 million making him one of the youngest self-made millionaires ever.  He is now a key fulltime member of Yahoo’s mobile engineering team, but he does not plan to stay there for long.  In fact, D’Aloisio wants to start another company.  When asked by the Wall Street Journal what he wanted to do next, Nick said “Serial entrepreneurs get addicted to creation. I want to be passionate. I feel really bad when I’m not doing something new.”