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Pudgy Penguins Path to Legacy Brand & IP Powerhouse | Luca Netz

Empire

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Pudgy Penguins: A Tale of Two Million Dollars

Pudgy Penguins felt kind of dead in the water as a project. There hadn't been a deal like this had been done before. I thought two and a half million dollars was incredibly cheap, figuring the business had netted seven million dollars in six months prior. So if you just do the math on like a PE multiple or like a traditional acquisition, it was like an obvious acquisition.

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