Yahoo Acquires News App -- And Youngest Employee

17-year old founder of Summly bought out for $30 million.

By Chris Roberts
|  Monday, Mar 25, 2013  |  Updated 5:55 PM PDT
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Marissa Mayer hires her youngest employee via a buyout.

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Yahoo's youngest employee is 17 and still in school -- but the London-based founder of a mobile news app comes packaged with some very vital code.

The tech giant has purchased mobile news app Summly -- which delivers bite-sized news tips to mobile phones -- for a reported $30 million, according to Reuters. And Summly's founder, 17-year old Nick D'Aloisio, is now Yahoo CEO Marissa Mayer's youngest employee, the news service reported.

The app will be shut down, but the app's code -- the valuable bit that's worth the reported $30 million -- will be "integrated" into Yahoo's other products, Reuters reported.

Mayer in particular has demonstrated keen interest in acquiring products that work on mobile platforms like smartphones and tablets. And it appears to be paying off -- stock in the company, which struggled for years to keep up with entities like Google, is up 50 percent under Mayer's watch, Reuters reported.

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