Onlive, the cloud video game startup based out of Palo Alto, CA is adding some major new players into it’s investor base. Telecommunications giant AT&T.
AT&T Media Holdings Inc. and Lauder Parters LLC, a Silicon Valley venture capital firm, are part of this latest volley of support for OnLive. This action also includes three previous investors, Warner Bros, Autodesk Inc., and investment firm Maverick Capital Ltd.
OnLive seems to really be turning some heads in the industry, and with the addition of these very large companies as investors, they must be doing something right. OnLive isn’t disclosing how much money it raised in this round, saying only that the funds will go toward the launch of service sometime this winter.
Steve Perlman, OnLive’s founder and CEO, said the investments “…expands the scope of what we can do. It establishes OnLive as a real player. This is not just some goofy video game delivery company.”
This AT&T investment is pretty significant because OnLive will benefit from having a strategic parter with a stranglehold on the networking and telecommunications industries. That relationship could go far beyond video games as other types of content, from software to high definition video, gets pushed down from the clouds.
If I was a gambling man, I’d be buying stock in this company as soon as it goes public…but that’s just me.
Boooo to them for not picking me as a tester.