Here's an entry in the epilogue for OnLive – or at least what used to be OnLive – before it was sold to a holding company owned by Silicon Valley venture capitalist Gary Lauder. According to a report in the Mercury News, the cloud-based gaming service was sold to Lauder for a little under $5 million USD. Lauder reportedly paid $4.8 million for OnLive as part of an insolvency process this summer.
At the same time the company had an outstanding debt of $18.7 million, excluding what it owed on future leases and contractual obligations. And of course, investors who gave the company more than $40 million (AT&T, HTC and other major investors) accepted that they had taken a bath and would not be seeing a return on that investment…
You can read the entire fascinating report here.
Source: Mercury News