$700 Million Happy Feet – Club Penguin Acquired by Disney
August 9th, 2007 • Related • Filed Under
Thanks to Stephen Foley of the UK Telegraph for today posting an article about Disney’s acquisition of Club Penguin ($350 Million now and $350 Million later on certain user growth targets and metrics.) Club Penguin is a social network for kids, where parents pay membership fees for their 7-12 year old children to waddle around online and make friends. Never heard of it until today, but apparently a ton of kids have…not to mention Disney. They have posted the press release on their site here : The Walt Disney Company Acquires Club Penguin
Stephen also asked the question is the social networking bubble about to burst?
No Stephen… it is not!
Social Networking is in its infancy, and as it morphs slowly into social commerce there will be winners and many losers along the way. It’s face will change a thousand times, but at its base application is to powerful to burst (ALA .com bubble).
Either way, I would imagine the three founders Lane Merrifield, Dave Krysko and Lance Priebe, are doing a little dance right now… I think I can hear the ‘$700 Million Happy Feet’ tapping all the way to the bank.
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