Penguins are Millionaires
Internet Safety Educator
2 Comments
The three founders of Club Penguin, a social networking site for lil' ones, just got a whole lot richer.
In a deal announced earlier this week, Walt Disney Co. has agreed to purchase the pre-teen social networking site for a whopping $350 million in cash with additional payment based on performance. Now who's waddling all the way to the bank, eh?
The online club launched in 2005,has more than 700,000 paid subscribers who pay about $6 a month. The Canadian Club Penguin website, has over 100 employees. The three founders all have children of their own and wanted to design a online playground that was creative and fun. The site, which is ad-free, features penguin avatars. Children can chat, play games to earn cash, buy virtual items such as clothing for the penguins and furniture for the igloos.
Can you say happy feet?
Reader Comments (2)
I think this will be the end of social sites, if you notice after their are too many it really goes down hill.
I think they should of held out for more though, its Disney.
Hi Mike,
I suppose time will tell! Thanks for stopping by.