OnLive valued at $1.1bn
Cloud gaming service booms following $30m stakes from BT and Belgacom
A recent filing suggests game streaming startup OnLive is now worth at least $1.1 billion.
The cloud gaming service launched in June, but saw BT and Belgacom pick up 2.6 per cent stakes estimated to have cost $30 million each.
With the new Delaware filing citing that OnLive shares are valued at $7.50 each, VCexperts analysts have calculated that the entire company is currently worth $1.1 billion – although vagaries in the filing could mean the value is $2.2 billion.
While OnLive is currently a US-only service, BT and Belgacom hope to launch European version soon, with BT arranging as-yet unspecific exclusive rights to the system in the UK.
Although the cloud gaming service had been subject to great skepticism, CEO Steve Perlman last month claimed that consumer demand had exceeded expectations.
Other OnLive investors include Warner Bros, Autodesk, AT&T, Lauder Partners and Maverick Capital.