03-27-2013, 08:59 PM
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The People's Post
Industry Role:
Join Date: Dec 2008
Location: invisible 7-11
Posts: 67,377
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Quote:
Despite speculation on the Internet that Summly only licensed its summarizing technology from SRI International, an independent research institute, Mr. D?Aloisio said the technology was developed by Summly and that the company owned 100% of the intellectual property behind the service.
Summly's own Website says:
SRI International, with the help of the Summly team, built the summarisation technology behind Summly. They own a small share in the company and are helping us improve the algorithm.
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http://www.businessinsider.com/the-1...hnology-2013-3
Quote:
So let's review: Yahoo bought a startup to acquire its talent.
But that talent lives 10,000 miles away, is still finishing high school, and is not actually responsible for the startup's core technology.
This has us suspicious that they are other reasons Yahoo bought Summly.
Some possible explanations:
Summly has an impressive list of angel investors, including Brian Chesky, Mark Pincus, Matt Mullenwegg, Li-Kai Shing, and Josh Kushner. These people are influential with lots of startups that Yahoo will want to acquire some day. Maybe Yahoo has decided spending $30 million to give one of their disappointing startups a safe landing is a way to get on their good side. Certainly Yahoo has some rehabilitation to do with Silicon Valley investors and entrepreneurs.
Yahoo is getting tons of press in the mainstream media for making a teenager a millionaire. The CEO is on the Today Show this morning. $30 million is not a lot of money to spend for so much "earned media," as marketing people call mentions in the press.
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