Disney Acquires Club Penguin For Up To $700 million
Club Penguin, a social network/virtual world that has been on the market for some time, was acquired by The Walt Disney Company and announced today. An earlier deal with Sony fell apart over valuation and Club Penguin's policy of donating a substantial portion of profits to charity. The company, which launched in October 2005, has 700,000 current paid subscribers and 12 million activated users, primarily in the U.S. and Canada.
Source: http://www.techcrunch.com/2007/08/01/disney-acquires-club-penguin/
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