Flailing OnLive Sold For Only $4.8m
Posted by Rock, Paper, Shotgun Oct 10 2012 18:00 GMT in OnLive
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Oh crikey. You may remember in August that online game streaming service, OnLive, was in a spot of bother. Stories of impending bankruptcy came on the heels of a company that had previously been valued at an extraordinary $1.8bn. The next day news came that despite lay-offs, a buyer had been found, and “substantial investment” was being put into the company to keep it going. But what’s been revealed today, reported by the BBC, is that it was sold for only $4.8m. That would be 1/375 of its previous estimated value. Or 0.27%.

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