Rajan Sodhi of PEER 1 just acquired by Disney.
This news comes after months of acquisition rumours which included Sony and others. The site will now be called Disney’s Club Penguin but will continue to operate out of Kelowna.
The Club Penguin founders will receive $350 Million and potentially another $350 Million based on future performance incentives. From start-up to $350 Million in less than two years – Mickey Mouse ears off to you.
When we launched Club Penguin in October 2005 we had a clear vision of a virtual world so fun and safe that we, and other adults around the world, would feel completely comfortable letting our own children and grandchildren visit. As word about Club Penguin spread and the popularity of the site grew, we were approached by countless international organizations about partnerships. From the outset, we made it clear we weren’t willing to compromise the integrity of what we’d created and would only work with a company that shared our founding principles and core values. Disney is that company. It is the world’s best loved and most respected provider of family entertainment with a strong commitment to providing safe fun. As Club Penguin heads into its third year in operation, the Walt Disney Company is perfectly positioned to help take it to the next level.