Why Yahoo's Summly Acquisition Was a PR Stunt
You may have heard today that Yahoo, which is in the midst of trying to “sex up” its brand image, just bought Summly, a “news summary” app created by a 17-year-old British kid named Nick D’Aloisio, for a whopping $30 million. But was Yahoo really expanding its product portfolio, or was the company just buying a bunch of good publicity? We’re firmly in the latter camp — and we’ll explain why.
The real value of this app has to be less than the selling price, especially when it faces competitors like Pulse, Flipboard and Pocket.
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