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Once Valued at $1.8B, OnLive Was Sold For Only $5M 168

Posted by Unknown Lamer
from the how-the-mighty-have-fallen dept.
gabebear writes with details of what happened to OnLive back in August: "In a firesale, OnLive, which was once valued at $1.8bn, was sold for practically nothing. Workers are mostly losing their jobs and stock options and investors are having to write off their investment." More details.
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Once Valued at $1.8B, OnLive Was Sold For Only $5M

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  • Re:OMG! (Score:5, Informative)

    by Necroman (61604) on Wednesday October 10, 2012 @12:51PM (#41609179)

    From the employee comments that were posted when OnLive went belly up, that doesn't sound like it was the case at all. I don't have links for any of this (it was either on /., reddit, or some other site), but the basic idea was:

    * The tech seemed to work pretty well. I think it was best if a customer was within 50 miles of a data center.
    * The cost of games through the service was near the same price as retal box versions (difficulty #1, as customers didn't feel like they had ownership of the games).
    * OnLive had a hell of a time getting titles available on their systems when they hit the streets. So not having AAA games available when they launched made it difficult to attract people.
    * The CEO was bull-headed. From one story I read, he was trying to get an exclusive contract with EA for being the only streaming gaming service EA used, but EA was also partnering with another company that had similar tech to OnLive. The CEO of OnLive flipped out and told his staff to pull all the EA games from their system 2 weeks before launch.

  • Re:OMG! (Score:0, Informative)

    by Anonymous Coward on Wednesday October 10, 2012 @02:00PM (#41610093)

    You do know that none of those are adventure games, right? An adventure game is something like Space Quest or Dreamfall.

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