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OnLive CEO keeps his job after new investors

by on24 August 2012 1849 times
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After we found out that OnLive faced financial disaster we expected that a new board would come to replace the one that led the company to bankruptcy, but looks like that is not the case. Steve Perlman get to keep his chair and remains CEO at OnLive. Their restructuring created a $40 million loss to HTC for what they invested in the company. I looks like the new investors believe that the former CEO can turn things around and make profit with their help.

An official statment was made which gave insight into how things will work in the near future as well as what customers can expect. All purchases, achievements, stevevideos and other user content will remain intact and be available to users as it was before. The company plans to continue operating 24/7 like they used to before recent changes. Also users can expect Vizio, CoStar, and Ouya consoles  in near future. With Visio CoStar they expect to offer decent competition for  Apple TV, while Ouya's goal is to bring Android based games to TV.

OnLive will now concentrate on a major transition due to new owners and afterwards Pearlman will focus on new product releases and promised major announcements; both large and small. Some of them have already mentioned Ouya and Visio CoStar, but OnLive said that more will be coming very soon. Hopefully Steve Pearlman will be able to bring the company back to its feet, or maybe even take it “to a higher level“. OnLive is really a great project and will help those who cannot afford to buy a new PC or console every (few) years.

[Ed – We are certainly interested in seeing where this goes. The fact that all of the employees were laid off and then only 50% were hired back is more than a little suspicious with Perlman maintaining the top spot. We do hope that someone looks into the situation to ensure that the employees of OnLive were not taken advantage of in this transition.]

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Last modified on 24 August 2012
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