REPORTER: He's just 17 and lives with his parents. But Nick D'Aloisio has just become a multimillionaire after selling his news app to Yahoo for a reported $30 million.
NICK D'ALOISIO, FOUNDER SUMMLY APP: "I didn't anticipate any of this happening. I think when we launched the product in November we had high hopes for user response but to get the industry and companies like Yahoo so interested has been awesome."
REPORTER: Summly edits news items making them user friendly for a mobile phone screen. Nick taught himself how to code at 12 and developed his first app aged just 15. It's attracted some pretty impressive investors, among them actor Ashton Kutcher, Yoko Ono and British broadcaster Stephen Fry. It's an investment that's paid off. But apart from a new pair of trainers, Nick says he more interested in business than money.
NICK D'ALOISIO: "It's been put in a trust fund and will be invested in due course, but, you know, beyond that side of things the thing that's really excited me about this deal is going to join Yahoo and working with Marissa Mayer the new CEO and the team over there. It's going to be really exciting."
REPORTER: Nick will become Yahoo's youngest employee.
NICK D'ALOISIO: "I've seen everything I've done with Summly and prior apps as like a hobby and I like maintaining that mindset because it means that I'm just very much focussed on the quality of the creative output."
REPORTER: Despite his pay packet Nick's not giving up on his studies. He'll combine school work with a job at Yahoo's London offices.