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Steve Perlman remains OnLive CEO in company rebirth

OnLive CEO Steve Perlman is retaining his position as chief operating officer of the cloud gaming service, despite over half of his employees losing their jobs when the company shut down. OnLive amassed debts of over $30 million, but was acquired by Lauder Partners, LLC with the company's new owner...

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OnLive's debt was $30-40 million, insolvency group reveals

It's now been revealed that OnLive's debt was somewhere between $30 million and $40 million before last week's collapse and subsequent reincarnation. Last week, the California-based company's assets were transferred to Insolvency Services Group. Those assets were then sold on to Lauder Partners,...

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British Telecom says it's 'highly likely' to write off OnLive stake

British Telecom has reported that it is "highly likely" to simply write off the 2.6 percent stake it invested in the recently rebooted cloud computing service, OnLive. The issue isn't yet settled, but a BT spokesperson told TechRadar that "the 2.6 percent shareholding in OnLive does not represent a...

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Yes, Ouya is still supporting OnLive

Yes indeed, the Ouya is still planned to have OnLive support at launch. Ouya announced in late July that OnLive cloud game streaming support would be in the Android-powered, Kickstarter-funded open-source console when it launches early next year. Reps from both companies reconfirmed their...

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OnLive's mysterious benefactor revealed, 'almost half' of original staff hired on at new company

Venture capitalist group Lauder Partners, LLC – helmed by long-time tech investor Gary Lauder – is the group behind OnLive's new incarnation. OnLive representatives announced this morning that Lauder Partners' Gary Lauder is the "very accomplished and well known venture capitalist"...

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Documenting the death of OnLive: notes from the company's final meeting

"I've been a non-stop fundraising machine," OnLive CEO Steve Perlman told his entire staff yesterday morning. "And I finally got to the point where I just could not bring in enough funding to carry this thing forward." The hundreds of employees that make up OnLive were – en masse –...

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Source: OnLive averaged 1800 concurrent users, CEO promised to protect patents against Gaikai [update]

A source confirmed to have been affected by today's OnLive company shift has stepped forward, telling Joystiq that staff were shocked when company CEO Steve Perlman announced OnLive would be restructured. Employees had joked, before the 10am meeting, that perhaps the company had finally been...

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OnLive spun off into new company, service 'will continue to operate'

Cloud streaming business OnLive confirmed its sale and subsequent restructuring "into a newly formed company" this afternoon, and said both its game and desktop services "will continue to operate." That includes "all of OnLive's apps and devices." According to the statement, OnLive, Inc. is now a...

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Source: OnLive losing 'at least 50 percent of staff,' bought out by unknown third party

OnLive let go "at least 50 percent" of its staff today, Engadget learned, and the company was purchased by an unknown third party. A former employee confirmed layoff reports that popped up earlier this afternoon and recounted the events that led to today's firings. A meeting held this morning by...

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OnLive on rumors of closure: 'of course not' [update]

InXile Entertainment's Brian Fargo tweeted this morning that he heard from someone inside Onlive that it was closing down, and has now posted that everyone on staff has lost their jobs, and that "a new company will be formed" soon after. A Mashable report from an anonymous source alleges the same....

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