Disney Gets Club Penguin: $700m

Impressive. The rumored $500m Sony deal for kiddie social network Club Penguin falls through, and Disney comes along with an even better offer: $700m in total, assuming performance targets through 2009 are met.

Congrats to Lane and the entire team at Kelowna, BC-based Club Penguin. Awesome stuff for their (almost entirely) boostrapped young company.

[via PaidContent]