hot  /  reviews  /  videos  /  cblogs  /  qposts

OnLive reportedly filing for bankruptcy (Update)

4:30 PM on 08.17.2012 // Jordan Devore
  @DtoidJordan

[Update 2: The restructured OnLive has issued a press release which offers insight into what happened and how those changes will affect the business going forward.]

[Update: Engadget reports that "at least 50 percent" of the OnLive staff will be affected by layoffs and severance won't be offered, according to a source who attended the staff-wide meeting earlier today. It seems unsustainable operating costs are to blame, and an unknown party is buying the company.]

It seems that cloud gaming service OnLive has been having a rough day. It all started with a Tweet from InXile Entertainment CEO Brian Fargo which, based on an email he had received from an OnLive employee, suggested that the company would be closed as of today.

OnLive director of corporate communications Brian Jaquet told Joystiq "We don't respond to rumors, but of course not." The outlet then asked for a comment on whether or not there had been any layoffs, to which Jaquet replied: "the OnLive service is not shutting down."

Despite the denial, a source told Kotaku that an "all-hands meeting" occurred this morning where CEO Steve Perlman explained that the company would be filing for bankruptcy in California. While the current OnLive will reportedly no longer exist as an entity, Perlman went on to say some employees would be brought back to work at a new, restructured company that would come out of these ashes.

For now, it seems the cloud gaming platform is indeed working as if nothing has happened yet. We will keep you posted, though hopefully we'll hear a definitive statement sooner rather than later. This back and forth is getting ridiculous.

OnLive on rumors of closure: 'of course not' [update] [Joystiq]
Source: OnLive Filing for Bankruptcy, New Company to Take Its Place [Kotaku]



Jordan Devore, Managing Editor
 Follow Blog + disclosure DtoidJordan Tips
Jordan is a founding member of Destructoid and poster of seemingly random pictures. They are anything but random. Disclosure: I backed Double Fine Adventure and Awesomenauts: Starstorm on Kickst... more   |   staff directory

 Setup email comments

Unsavory comments? Please report harassment, spam, and hate speech to our moderators, and flag the user (we will ban users dishing bad karma). Can't see comments? Apps like Avast or browser extensions can cause it. You can fix it by adding *.disqus.com to your whitelists.

 Quickposts
Status updates from C-bloggers

Niero Desu avatarNiero Desu
Just tried to explain the word BEAT to an ESL student. Reference.com has 58 variations of the definition. At the least, they can finally understand that Michael Jackson was not asking people to fight each other.
Mediamister avatarMediamister
Steven Hansen avatarSteven Hansen
DTOID PAX MEET UP DAY 1 WAS FIRE.EMOJI!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Shinta avatarShinta
[youtube]https://youtu.be/JOXdORyTqVY[/youtube] I told you guys ... The Witcher 3 has more pirouettes than a ballet show. It's ridiculous!
Nathan D avatarNathan D
Are we really calling followers "fappers" on these quick posts? I knew I loved Dtoid.
OverlordZetta avatarOverlordZetta
[youtube]https://youtu.be/z04MAOubUgM[/youtube] This might've been a fun show.
Cosmonstropolis avatarCosmonstropolis
Someone is trying to log into my Dtoid account. I keep getting emails notifying me of bad password attempts. What?
gajknight avatargajknight
If you spend 10 minutes trying to write a Quickpost...can it really be called Quickpost?
Mike Wallace avatarMike Wallace
So I have enough coins to get a new character in Heroes of the Storm. I like big portly characters like the Butcher or Stitches, but I did enjoy my free week of Tychus. Crowd thoughts?
GoofierBrute avatarGoofierBrute
Today I learned that Bad Rats 2 is a thing that is happening. I don't know how to feel about this.
techsupport avatartechsupport
The temp agency that employs me had me work as a sign spinner today. As in, I held a six foot cardboard arrow-shaped sign and spun it and danced for six hours. It got interesting when a homeless couple confronted me about hogging their spot.
Rad Party God avatarRad Party God
V days until !
Snaveage avatarSnaveage
5ish hours into Phantom Pain and it is absolutely glorious. This is truly A Hideo Kojima game.
Robo Panda Z avatarRobo Panda Z
It looks like my job at PAX didn't work out (For a variety of reasons). Have fun at the convention, everyone! https://www.youtube.com/watch?v=CdqoNKCCt7A
thelivinglegend avatarthelivinglegend
Witches of Crookback Bog from Witcher 3 is the best quest in the whole game and of any game I've played in recent memory.
Pixie The Fairy avatarPixie The Fairy
I was just accosted by the most gorgeous cosmetics saleswoman with an adorable Hatian-Creole accent. It's not often my attention gets that immersed in a total bullshit sales pitch. Well, that and I didn't want her to let go of my arm.
Cosmonstropolis avatarCosmonstropolis
My son just washed my Majora's Mask NEW 3DS because the screen was dirty. Bahahaha *cries uncontrollably*
Flegma avatarFlegma
Ever thought of skipping a console generation (and not upgrading PC for years, either) because of how big your pile of shame is? I'm doing that just now.
Tenzan  avatarTenzan
Apparently there are cancellations on the CE versions of MGSV:TTP from Europe and North America. People getting emails saying they are cancelled and such. On top of that is that there's been unboxings that don't have the extras for the Day One edition.
OverlordZetta avatarOverlordZetta
I've been mad at myself all morning for missing the apostrophe in "I'll" on my Quickpost last night, but it turns out that apostrophes just don't show up on the feed! Isn't that the bee's knees?
more quickposts


Contest!


Seriously

Invert site colors

  Dark Theme
  Light Theme


Destructoid means family.
Living the dream, since 2006

Pssst. konami code + enter

modernmethod logo



Back to Top


We follow moms on   Facebook  and   Twitter
  Light Theme      Dark Theme
Pssst. Konami Code + Enter!
You may remix stuff our site under creative commons w/@
- Destructoid means family. Living the dream, since 2006 -