By Louis Eksteen
Importance of Yahoo!'s Summly app purchase
Traditional media companies do not often invest in technology creation directly. They use technology to conduct their business, but one would be hard-pressed to find a real deep-tech innovation lab within (or even close to) traditional newsrooms. Even media companies that have bought into tech startups and companies, often do this in holding company fashion, avoiding introducing code builders straight into the media heart of the operation. This needs to change. Yahoo!'s Summly app purchase therefore shows traditional media the way.
Yahoo!'s Marissa Mayer (she's now been CEO for about eight months), startled the tech world recently by authorising the purchase of a mobile app called Summly from a 17-year-old UK schoolboy. (Plus, in reality, some true heavyweight early investors.) An interesting aside to the story is that the app was removed immediately from the App Store, as Yahoo! aims to use its auto-summarise technology in its own branded apps.