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16-Year-Old Kid Raises $250,000 In Seed Funding

Sites include . Published on December 20th, 2011. Written by Anthony West.

There aren’t many 16-year-olds that can say they have a company that is attracting funding from billionaire investors. But most teenagers aren’t like Nick D’Aloisio.

Since creating Summly, an App that attempts to summarize the web across various platforms, the teenager has been creating quite a buzz and many are even comparing him to a young Steve Jobs. So impressive was D’Aloisio, that prominent billionaire Hong Kong investor Li Ka-shing, decided to invest in his venture that was previously called Trimit.  Immediately after Trimit was rebranded as Summly, Ka-shing, using his investment vehicle, Horizons Ventures, pumped $250,000 into the company.

Summly as an App seems ready to make using the web a more enjoyable experience—especially for those of us stretched for time. Already big tech futurists from MIT are singing Summly’s praise, even going as far as to compare it with other technologies and citing that Summly performs at the “highest academically published results”, beating out similar patented technologies by a factor of 30%. D’Aloisio too has been busy mapping out the future growth of the App and has hired more experienced programmers to help make the architecture more robust.

This success story perhaps doesn’t come along often, but it should be encouraging for other young programmers out there who have a keen eye for developing.

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