OnLive's debt was $30-40 million, insolvency group reveals
Last week, the California-based company's assets were transferred to Insolvency Services Group. Those assets were then sold on to Lauder Partners, LLC on the day OnLive ceased operations. Yesterday, ISG's CEO Joel Weinberg revealed the extent of OnLive's arrears to San Jose Mercury News.
"It was a company that was in dire straits. It only had days to live in terms of cash flow and the like," Weinberg disclosed, "Something had to be done immediately or there would have been a hard shutdown, which would have been a disaster."
The newly acquired company will continue to run under the OnLive name, but it had to lay off at least half of its 200 employees as part of the process. It now also appears likely that investors HTC and British Telecom will write off their investments. Weinberg also revealed that he expects investors to only receive 5 to 10 cents per dollar owed.
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Source: http://www.joystiq.com/2012/08/23/onlives-debt-was-30-40-million-insolvency-group-reveals/
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InspiringGraphicsPosted:
MinecartGoldenDiamondsMinecartGoldenDiamonds Onlive in my opinion is aweful
I've never even heard of this website.
Its not a website i dont think
Yes it is.
It's a gaming website.
I think you will find it's not so much a gaming website, it is a gaming client for your computer, which allows you to purchase games or demo them, playing them over Wifi, so that you do not have to download any software. OnLive is only good if you have a strong Wifi connection which has great speed, I previously used OnLive on my Android tablet, now I currently use it on my iPad, its great for gaming if your out on the move etc.
MortarPosted:
OnLive is a platform on the computer which allows you to purchase trials of games and purchase the full game (If a trial was purchased before, then the price of that is knocked off the cost of the full game).
You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.
I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.
You can also save and load clips that you have saved, and even a rather interesting game viewer sort of system where you are able to watch other people whilst they're playing.
I personally think its better to stick with the main 3, Xbox, PlayStation and Computing, not a fail attempt at binding them all together.
CearnsyPosted:
tacticdesignz Onlive is a website which allows ps3 and xbox players to play against each other
No it doesn't ?
GoldenDiamondsPosted:
MinecartGoldenDiamondsMinecartGoldenDiamonds Onlive in my opinion is aweful
I've never even heard of this website.
Its not a website i dont think
Yes it is.
It's a gaming website.
Is it? You learn something new everyday
GoldenDiamondsPosted:
MinecartGoldenDiamonds Onlive in my opinion is aweful
I've never even heard of this website.
Its not a website i dont think
GoldenDiamondsPosted:
skullcandy12 Its a service in which you play games through their server, but the video stream is shown to the player through the onlive application. it's kind of like playing on a computer/console in the next room with the tv in your room.
It's not bad but you need a good internet connection.
Its not bad, its very bad
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