He doesn't have $30M. He raised $1.5 million 2 years ago to develop the app. I'd be surprised if he had $5M after everything was all said and done. Investors investing in a 15 year old aren't stupid. They definitely maximized their upside.
Plus, these types of deals typically want the founder to stay on for a period of time.
I am. If you have $30M in the bank, why the fuck are you joining Yahoo?
He doesn't have $30M. He raised $1.5 million 2 years ago to develop the app. I'd be surprised if he had $5M after everything was all said and done. Investors investing in a 15 year old aren't stupid. They definitely maximized their upside.
Plus, these types of deals typically want the founder to stay on for a period of time.
Yahoo Buys Summly
Summly.com
He's the same guy who Gizmodo made fun of 2 years back - How I Made a 15-Year-Old App Developer Cry
He doesn't have $30M. He raised $1.5 million 2 years ago to develop the app. I'd be surprised if he had $5M after everything was all said and done. Investors investing in a 15 year old aren't stupid. They definitely maximized their upside.
Plus, these types of deals typically want the founder to stay on for a period of time.
Interesting enough, it looks like this is her @ Google HQ.
Check out the colors of that rocket ship bullhorn thing + Google thing in frame on top of bookshelf...
It's now 2 years later, so his app obviously had some more time in the oven. More importantly he finally found someone that found value in either his app or patents (if there are any) and is willing to pay him premium $$ for it.He's a kid who was trying to do big boy things and almost pulled it off. His app might even be useful if it had a little more time in the oven. If I wanted to invest in an app developer, I'd put Nick D'Aloisio through etiquette school, manners class, drill him with social skills and most importantly, teach him the basics of how e-mails work (or maybe just strip him of e-mail rights altogether) and then I'd let him work. The kid got unhinged at what happened with the coverage of his app (I would be too at 15) but he obviously has the sort of so-insane-it-might-be-great passion for this.