A few weeks ago, Yahoo made headlines when it acquired a startup, Summly, run by a 17-year-old CEO named Nick D’Aloisio for 30 million dollars.
Yahoo acquired the app which summarised news articles from the web and no one could really knew why, which has now been answered.
According to telegraph.com.au, Summly was not Yahoo’s main target. It was after one of its equity holders, a company called SRI.
SRI actually created the technology that powers Apple’s personal assistant app, Siri.
Yahoo wanted a Siri of its own, but Summly was part of a package deal.
If Yahoo wanted to buy the “summarisation technology” invented by D’Alosio, it had to purchase Summly (and then subsequently shut it down).
A source close to Yahoo told Business Insider that CEO Marissa Mayer believed its version of Siri was ‘going to be huge for Yahoo’ as it built ‘personalised news feeds’ into mobile versions of its ‘core experiences’ such as Yahoo Finance and Yahoo Sports, the report said.
This is bound to create some copyright issues down the road.