![]() Virtual worlds and immersive environments are key elements of Disney's strategy, said Steve Wadsworth, president of the Walt Disney Internet Group. The company's three founders will join Disney, which says it plans "no immediate changes" to the operation or business model of the company.Ībout 10 per cent of the purchase price will go toward Club Penguin's foundation, which is involved in child-focused charitable work in countries including Uganda, Kenya and Romania, Mr. ![]() Under the terms of the deal, Club Penguin and its current 130 employees will remain in Kelowna. "We are passionate about this, this is our baby." "For us, the process of finding the right partner was paramount," Mr. The Club Penguin partners held out, aiming to find a partner that would respect the company's approach. ![]() The founders, who all have children of their own, wanted to create a virtual playground that would emphasize fun and creativity.Īs the site snowballed, picking up subscribers in the United States, Britain and across Canada, calls and e-mails started pouring in from would-be investors and purchasers who wanted to join the march of the penguins all the way to the bank. Merrifield, Dave Krysko and Lance Priebe, the site was designed to appeal to youngsters from 6 to 14 and provide an advertising-free zone that features penguin avatars through which subscribers chat, play games to earn cash and decorate their igloos. Merrifield said it was designed to be self-sustaining from its inception and is profitable.įounded by Mr. The privately held company does not release financial information, but Mr. "For us, this whole decision was based around being able to connect with infrastructure that we wouldn't be able to build on our own and being able to take this thing further, and to more countries and more children around the world than we would be able to on our own."Ĭlub Penguin launched in October, 2005, and now has more than 700,000 subscribers who pay $5.95 a month or $57.95 a year. ![]() Merrifield said on a conference call with reporters. "We have been offered a lot of money from a lot of different people at various different points," Mr. ![]()
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