At the time of its insolvency last week, streaming game company OnLive was in far greater trouble than was publicly known.
The company owed $30 million to $40 million to various creditors and had little money to pay them. It had failed to find a buyer despite shopping itself around and was facing a complete shutdown of its services, said Joel Weinberg, CEO of Insolvency Services Group.
DS:
Sometimes life just isn't fair. Vincent Van Gogh went completely unappreciated during his lifetime despite his obvious genius; Jesus - a man who could turn water into wine, don't forget - was nailed to a cross and left for dead; while Steve Brookstein has only ever had one number one single, despite winning the very first series of The X Factor. Now what's that about?
the dreamcast was not amazing:
-It's graphics were in between ps1 and ps2
-the controller felt so narrow and skinny
-no dvd drive
I don't know why people act like it was anything more than another overrated undersold flop of a console. My friend had one because "next gen" and I told him I'm just waiting for PS2.
He always talked about graphics, non stop. Of course when I played it did look better than anything I've seen before, but that was it. The games were ok at best. I didn't like NFL 2K's control scheme compared to Madden's.
Even as a kid I predicted this console would die off in 2 years, well what happened...
Failure is always relative. How many sales makes something successful? "If your not first, your last", or in this case, you failed. I'll admit, I've never heard of a couple of these.
GameCube made the most profit in its generation. I don't consider that console a flop.
I consider a flop to be a product that has a negative impact financially for a company.
OnLive announced that they would be shutting down their streaming service for good at the end of this month, which has unsurprisingly upset some of the streaming service’s supporters. While some took to griping on forums, OnLive user Larry Gadea decided to take action.
OnLive has been acquired by Sony and will shut down all services on April 30th, 2015. Vault of the Gameverse says Goodbye & Thank You.
OnLive was bound to be a failure
Gameover man
We got Gaikai.
I am still trying to figure out how they got out of their debt via this legal loop hole? I mean they F'd a bunch of people including all the employees that got laid off. Now they get to continue on as a smaller company and just wash their hands of the previous debt? Am I missing something here cause I just don't see the justice in that.
Well OnLive was a very risky investment, especially when the technology for streaming games efficiently isn't really there yet. There's much more of an incentive to buy the game instead.