A British app founded by three Cambridge graduates that predicts the next word you want to write using artificial intelligence has been bought by Microsoft for £174 million - but one of the three missed out after selling his stake for a bicycle.

Chris Hill-Scott, who set the company up with Jon Reynolds and Ben Medlock in 2008, relinquished his share in SwiftKey the same year. He now works for the Government Digital Service, the branch of the Cabinet Office that is attempting to bring government operations online.

He tweeted that it was the "biggest mistake I ever made" and posted a picture of his resignation document, The Times reported.