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ChefPatrick.com
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Disney Spends $700 million For ClubPenguin.com Only To Let It Expire
Posted: June 21st, 2011, 5:42am UTC by Chef Patrick
Disney purchased ClubPenguin.com in August of 2007 for $700 million, $350 million cash and potentially another $350 million based on performance goals. At the time of purchase ClubPenguin.com had more than 12 million members with roughly 700,000 of them paying $57.95 per year. Do the math, that is over $40 million per year in revenue. You [...]