As we’re wondering how many billions Facebook might sell for, Disney bought Club Penguin, a social network for kids, for $350 million. Didn’t see that one coming, did you?
“Move over, Donald, there’s a new favorite bird at Disney. Walt Disney has snapped up the snow-covered virtual world/social-networking portal Club Penguin for $350 million — and promises to pay another $350 million through 2009, depending on the growth of Club Penguin’s earnings.” Via AdAge
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