Onlive's mysterious buyer is a mystery no longer. The streaming-game company was purchased by venture capitalist group Lauder Partners, LLC – helmed by tech investor Gary Lauder.
Oh crap! No stock was purchased. Everyone who held stock in the old OnLive just got #@%&ed. I'll bet LLC paid cents on the dollar for those assets as well.
Well depending on how Onlive was fiscally structured Lauder Partners could of had to pay full price for some items, and then be able to purchase the ip's for pennies on the dollar. @LostDjinn below- I don't know California disclosure law so I cant say, but seems quite possible.
Something tells me they're not goin' to share that info for some reason. ;)
I don't know about anyone else, but I really hoped someone who actually knew about gaming had bought this company out, but it's just a random venture capitalist meaning, he throws money at OnLive, nothing changes, and we're back in this same situation a year or two from now.
Onlive is a privately held company anyway, the only people who would have any stock in the company are the top executives of the company
Alongside HTC, other major technology companies have also invested in OnLive, including Warner Brothers, AT&T and BT, which acquired a 2.6% stake in the company. http://n4g.com/news/1063668... Also employees at all different levels held stock in the company
You know if I am one of those former investors I would screaming bloody murder. Something about this whole situation just stinks as in insider dealing. Onlive files ABC, they get to pick the creditor trustee who just happens to sell the company assets in their entirety to this VC guy. Prior to this Perlman was holding out on selling to the likes of HP cause he wanted 1 billion. Now he fucks his employee's, investors and people he actually owed money to with this ABC filing... gets a new job / company doing exactly the samething just minus a salary (which i doubt he needs anyway) but i am sure he is getting a huge chunk of new stock in the new company. Just feels a bit underhanded imo.
"Q. Did Steve Perlman receive stock or compensation in this transaction? A. Like all shareholders, neither Steve nor any of his companies received any stock in the new company or compensation in this transaction at all. Steve is receiving no compensation whatsoever and most execs are receiving reduced compensation to allow the company to hire as many employees as possible within the current budget."
Well at least its not blatant, but do you really think Perlman has not been promised something in return for staying on?
Gaikai FTW! Screw OnLive for fucking people over.
Vulture capitalists gonna tear it apart, GG.
glad M$ didnt bought onlive now next gen belongs to sony
glad the world is not full of fanboys like you.
no it's just that MS can actually afford to build there own.. MS will be more dominant next gen. 720 will be the best cross platform system. http://www.youtube.com/watc... 720/pc ports > ps4 ports.. Funny when sony does it you don't mind being lock into the cloud? Stfu..
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