OnLive Lands Major Funding to Launch Game Service

Authored by Mark Hefflinger on September 30, 2009 - 9:22am.

San Francisco - OnLive, the developer of a Web platform that delivers instant video games on demand, said on Wednesday that it has landed a major new round of funding, which the company calls "by far" its largest to date.

New investors in the company's third round include AT&T Media Holdings, Lauder Partners and Maverick Capital.

Previous backers Warner Bros. and Autodesk also participated.

San Francisco-based OnLive is preparing to launch its OnLive Game Service, a cloud-based video game platform that currently is in beta testing.

The company said that its service can instantly deliver games to a TV, through a special adapter, or computer, through a browser plug-in.

OnLive spent seven years in stealth development before officially launching in March.

http://blog.onlive.com/2009/09/29/onlive-closes-major-investment/

http://www.onlive.com

Published in DMW Daily, September 30, 2009

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Comments

I would really like to see

Submitted by anonymous (not verified) on October 2, 2009 - 5:24am.

I would really like to see OnLive succeed but they should throw that money back at AT&T. It was not less than 3 weeks ago that AT&T submitted to the FCC that video games were not vital interest with broadband: http://gullfoss2.fcc.gov/prod/ecfs/retrieve.cgi?native_or_pdf=pdf&id_document=7020037016 What a bunch of hypocrites.