Funding and Acquisitions Roundup: Yahoo! acquires Summly, founded last year by now 17-year-old entrepreneur

By Editor March 25, 2013

Today’s early-stage startup funding and acquisitions news:


Summly, launched last year by then 15-year-old Nick D’Aloisio, and which automatically summarizes news for mobile sites, has been acquired by Yahoo!. Terms of the acquisitions weren’t disclosed, but it certainly demonstrates some new thinking by Yahoo! about how to approach user experience, moving forward. Here’s the company’s blog post about the acquisition, by D’Aloisio.

Apple has acquired WiFiSLAM, which offers an indoor GPS solution for smartphones. The specific terms of the deal have not been disclosed, but Apple paid approximately $20 million for the company and has confirmed the buy, according to TechCrunch. WiFiSLAM was founded in 2011 and is based in Palo Alto.


Tangentix has landed $2.1 million in new funding for its download compression solution for speeding up game downloads. Investors include EV Group, RisingStars Growth Fund II, ParkWalk Advisors and Finance Yorkshire (Seedcorn and Equity) Funds, according to VentureBeat, which got the scoop on the funding. The Sheffield, South Yorkshire, United Kingdom-based Tangentix was founded in 2009 and previously raised $1 million in investment capital.

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