3 ms·
The summarization tech isn't owned by Summly. It's owned by SRI International and was licensed to Summly. Maybe a large chunk of the reported $30 million was ac
by alex1 14y ago
The summarization tech isn't owned by Summly. It's owned by SRI International and was licensed to Summly. Maybe a large chunk of the reported $30 million was actually used to acquire that technology from SRI?
- hdra 14y agoI actually didn't know about this before. I think one of the first article I read about the product was the story when the product was called TrimIt, and the company just received some investment from Li Ka Shing. For some reason, the articles[1][2][3] gave me the impression that the technology was developed by the founder (or did they switched the algorithms?) [1]: http://www.forbes.com/sites/parmyolson/2011/12/13/teenage-programmer-backed-by-hong-kong-billionaire-li-ka-shing/ http://www.forbes.com/sites/parmyolson/2011/12/13/teenage-pr... [2]: http://techcrunch.com/2011/07/15/trimit-summarizes-emails-blog-posts-and-more-with-a-shake-of-your-iphone/ http://techcrunch.com/2011/07/15/trimit-summarizes-emails-bl... [3]: http://gigaom.com/2011/12/13/meet-the-internets-newest-boy-genius/ http://gigaom.com/2011/12/13/meet-the-internets-newest-boy-g...
- arunoda 14y agoA good answer.
- lubujackson 14y agoHere's my conspiracy theory - Summly has a very nice contract with SRI that gives them full usage forever and is transferable to Yahoo. Yahoo tries to license the tech from SRI directly and realize it will cost them 20 mil a year based on their heavy usage. So instead they buy Summly for the SRI tech at a discount. Annnd that's about the only way this makes sense to em.