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With the death of OnLive a new company is born with the same name and around half the existing workforce. According to the latest reports it appears that OnLive CEO, Steve Perlman will also be remaining with the company.
OnLive faced imminent closure recently due to lack of cash to even sustain the company for more than a few days. The company’s CEO Perlman gathered the 200 some staff members and took the blame for the state of the company.
He stated:
I’m the one that brought you here. I’m the one that ultimately made decisions. And I’m the one that ultimately takes responsibility. So I am sorry, and it didn’t end up exactly as we’d hoped.
According to Perlman the company had purchased 8,000 servers and only had 1,600 concurrent users to sustain them. According to Mercury News, the company apparently owned $30 to $40 million to various creditors and was unable to pay them.
The collapse of OnLive was substantial as it even impacted mobile manufacturer HTC, as the company also invested nearly $40 million in OnLive’s integration with its devices. According to reports, HTC’s $40 million is completely lost and cannot be recouped.
OnLive entered ABC (Assignment for the Benefit of Creditors) a form of bankruptcy, at which point venture capitalist, Gary Lauder stepped forward to assume liability of the company. According to a letter Lauder Partners sent to OnLivefans.com (yes, there is a fan site for OnLive), the new owner of OnLive has decided to keep Perlman onboard as CEO of the newly formed company.
Steve continues as CEO and is currently concentrating on the transition; once this is complete, he’ll be very focused on our next product releases and the vision. There will be changes to the organization both with old and new OnLive staff that will be bringing new features and games to the service.
Its surprising to hear that the new owner of OnLive wishes to keep Perlman running the company considering the state it was in before. It will be interesting to see how much influence Lauder will have in the day to day operations of the company.
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