Cloud Gaming, Software Provider OnLive Bites The Dust
Cloud gaming vendor OnLive, whose Windows 7 desktop-as-a-service incurred Microsoft's wrath earlier this year, laid off its staff and shut down after racking up between $30 million and $40 million in debt, according to the San Jose Mercury News.
OnLive said it is not shutting down, just re-organizing under a bankruptcy alternative. It has created a new company -- also called OnLive -- and re-hired some of the people it laid off, according to a report from The Verge. The bad news for investors: OnLive has few remaining assets, which means a lot of early supporters are going to be getting back a fraction of what they put in.
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