OnLive Closes Major Investment
Big news today—OnLive has closed a major round of funding with participation from AT&T Media Holdings, Inc., Lauder Partners, Warner Bros., Autodesk and Maverick Capital. The funding is much larger than our previous rounds and gives us a serious jolt of rocket fuel as our Beta progresses and we look forward to launching the OnLive® Game Service.
Over the last decade, we’ve seen an enormous upheaval in the media business as the written word, photos, music, and video have been steadily moving away from physical media to online delivery. One major category that still remains largely based on physical discs is fast-response interactive media—in particular, video games. And, of course, OnLive’s goal is to enable that last remaining transition.
We are both pleased and inspired that our investors share this vision with OnLive. Not only do they see the value in OnLive in particular, but they also understand the significance of what OnLive is doing to lead a massive sea change in interactive media distribution. We are grateful that they have not only provided OnLive with their support, but they have also provided OnLive with such a strong endorsement.
All fueled up, there’s only open road ahead.
—Steve Perlman, OnLive Founder & CEO
