debuted its cloud-based gaming service and demonstrated
the service at GDC 2009. The company was very quiet with the
development of its product and has announced that it has completed
a round of new funding.
OnLive won’t specify how much
funds it raised, however, the level of funding for the company
included investors from AT&T Media Holdings Inc. and Lauder
Partners. Original investors in OnLive included Warner Brothers,
Autodesk, and Maverick Capital. The original investors also
participated in the new round of financing.
OnLive CEO Steve
Perlman would only say that the new round of investments represents a
"large investment at a large valuation."
service plans to officially launch this winter and is undergoing beta
testing right now. OnLive reports that it is having to rethink its
original estimates for adoption over the first year the service is
available. The company reports that hundreds of thousands of people
signed up for the beta test period of the service. That number was
more than the company estimated would adopt the service in the first
year it was available.
Perlman said, "Our projections
have changed. Our projections originally for the first year were less
than the number of people that have so far signed up for beta. So I
guess we underestimated."
How much OnLive users will pay
for the monthly service needed to play games is still unknown. So
far, the service has signed up publishers like EA, Ubisoft, and
Take-Two Interactive to provide game titles.