Disney Buys A Social Network For Company Investment

By: Michael Stevens - Staff Writer
Published: Feb 24, 2021

Disney Buys A Social Network. Disney buys Togetherville, a social network for children, for an undisclosed sum. The deal is part of the company’s of investing more in social companies and less in creating console-based video games.

Togetherville is meant for children aged 6 to 10 and allows them to interact with the children of their parents’ friends on Facebook. They can play games, watch videos, send pre-selected messages to their friends or have their comments vetted before being published.

The acquisition follows Disney’s purchases of social gaming company Playdom for $563 million and mobile music game maker Tapulous last year.

The company would not say how many people work at Togetherville or how many members it has.

Disney has been trying to turn around its interactive division, which lost $234 million last fiscal year on $761 million in revenue.

The co-presidents of the division, John Pleasants and Jimmy Pitaro, told an investors conference last week that their goal is to make the division profitable some time in 2013.


Business NewsBusiness News Stay ConnectedStay Connected

Add our Facebook page to receive updates and participate in new tools and features.Add our Facebook page to receive updates and participate in new tools and features. It's a great way to stay connected with all the latest news.

Receive daily bite-sized updates by following us at Twitter.Receive daily bite-sized updates by following us on Twitter. Receive Tweet-sized 140-character updates on your mobile phone device or PC.

Subscribe to our daily RSS feed to get the latest national news stories.Subscribe to our daily RSS feed to get the latest national news stories. We offer a feed for every topic including business, entertainment, health, politics, science & technology, travel and more.