The story
OnLive was announced at the Game Developers Conference in 2009. The service was originally planned for release in the winter of 2009. OnLive's original investors include Warner Bros., Autodesk and Maverick Capital. A later round of financing included AT&T Media Holdings, Inc. and Lauder Partners as well as the original investors. In May 2010, it was announced that British Telecom and Belgacom invested in and partnered with OnLive.
On March 10, 2010, OnLive announced the OnLive Game Service would launch on June 17, 2010, in the US, and the monthly service fee would be US$14.95. At launch the membership option available was through AT&T's Founding Members promotion, which provides the service for free for the first year and US$4.95 per month for the optional following year. On October 4, 2010, OnLive announced that there would no longer be any subscription fees for the service. On March 11, 2010, OnLive CEO Steve Perlman announced the OnLive Game Portal, a free way to access OnLive games for rental and demos, but without the social features of the Game Service. It was stated that it would roll out later in 2010 after the OnLive Game Service launch. The OnLive Game Service was launched in the United States on June 17, 2010. Shortly afterwards, on December 10 Onlive was awarded a patent for cloud gaming The US Patent Office. The service was launched in the United Kingdom on September 22, 2011. On January 10 at the 2012 Consumer Electronics Show, OnLive announced "OnLive Desktop". OnLive Desktop used virtualization technology to create a remotely hosted Windows 7 desktop.
Layoffs and buyout
On August 17, 2012, the company laid off all of its employees. OnLive entered into a proceeding known as an "Assignment for the Benefit of Creditors", wherein OnLive shareholders lost their stakes in the company. OnLive then sold off its assets and started a new company, also called OnLive. On August 20, 2012, the company officially revealed Lauder Partners as the buyer. On August 27, 2012, founder Steve Perlman stepped down as CEO, Gary Lauder became chairman, and Charlie Jablonski, former VP of Operations, was appointed COO and acting CEO. It was revealed in October of that year that OnLive was sold for only $4.8 million. For a company that analysts once estimated was worth approximately $1.8 billion, there was some surprise at the low figure for which the company was sold. Some analysts speculated that the true value of the patents held by the company was potentially in the hundreds of millions of dollars, but that the firm's poor bargaining position led to the cheap sale.
Relaunch
In March 2014 the company hired a new CEO, Mark Jung and released a new gaming service, CloudLift. Cloudlift links to selected titles in a player's game library and allows the player resume game-play on another device.
Sale to Sony and Shut down
On April 3, 2015, OnLive announced it had sold most of its assets to Sony Computer Entertainment and would be shutting down all services on April 30, 2015.
From Wikipedia’s article on OnLive, shared under CC BY-SA 4.0.4
