OnLive CEO Steve Perlman exits company after reformation

OnLive, one of the first cloud gaming companies to come into existence in the past few years, recently was forced to enter into a type of bankruptcy that caused as much as half the entire staff to be laid off in one day.

However, the brand and much of the company will live on through a reformed corporation that purchased OnLive's assets, logo, and name. At the time, Perlman was still with the company, leaving some scratching their heads wondering why the captain wasn't going down with the ship.

Today, however, Perlman announced that he is leaving OnLive to pursue new goals while the venture capitalist, Gary Lauder, who purchased their assets will be taking over as CEO. 

"Steve has created an extraordinary company that no one else could have created. He is a unique entrepreneur and deserves his legendary status in Silicon Valley as a creator of groundbreaking companies," Lauder said. "The new OnLive is emerging with greater financial security and a brighter outlook on the future. OnLive is now positioned to execute against longer-term projects with our breakthrough technology, products, and services."

It's not clear yet what sort of projects Perlman is planning to work on, but we've got a feeling it wont be long before he's back in the saddle as he's had quite a storied career in technology and entrepreneurship.

Source : gamesradar[dot]com

OnLive denies reports that it will lay off entire staff soon

Two reports came out today that are alleging that OnLive may be preparing to fire their entire staff. The reports come from tech site Mashable, and InXile Entertainment's Brian Fargo who both cited insiders at OnLive telling them bad things were afoot at the cloud gaming company.

The confusing part is that OnLive has issued clear denials of these claims so far. However, given that the company might be in its death throes it's hard to completely trust what they say over independent sources. Similar to the 38 Studios debacle, companies often don't like to portray any weakness until the very moment of death in case a last minute investor can be persuaded to save the day.

OnLive offered a clear, "of course not" answer when asked directly about whether the company was closing. And others at OnLive have been a little more reserved, saying that they couldn't comment, but the OnLive service won't be shut down.

All of this leaves the story still very much up in the air, and we don't yet have any idea what the resolution will be. Is somebody at OnLive trolling these journalists? Is this a weird publicity stunt? Or is OnLive very much in financial trouble? We'll likely find out very soon.

Source : gamesradar[dot]com

OnLive Possibly Being Closed by End of Day

IGN is hearing rumors that OnLive may be shutting down as early as end of day today.

Brian Fargo from inXile says he received an email from an OnLive employee which read:

"I wanted to send a note that by the end of the day today, OnLive as an entity will no longer exist.  Unfortunately, my job and everyone else's was included.  A new company will be formed and the management of the company will be in contact with you about the current initiatives in place, including the titles that will remain on the service.

It has been an absolute pleasure working with you and I’m sure our path with cross again."

Mashable corroborates Fargo's email, saying "According to a source close to the situation, the company called an all hands meeting at 10am PDT, at which the entire staff was fired. Some staffers may be rehired as the company transitions to its next unknown iteration."

IGN has reached out to our sources at OnLive but have yet to receive confirmation.

We'll update with more information as we hear it.

Developing...

Nic is the Editor of IGN Tech. He loves technology almost as much as Brand New, Boyz II Men, and Catcher in the Rye. You can follow him on Twitter and IGN.

Source : feeds[dot]ign[dot]com