The sale should happen soon if it's going to happen.
Source: http://fortune.com/2015/04/28/exclusive-gaming-startup-ouya-needs-to-find-a-buyer-quickly/Fortune said:Gaming company OUYA is on the auction block after tripping a debt covenant, according to a confidential email sent out earlier this month from CEO Julie Uhrman to company investors and advisors.
Investment bank Mesa Global which recently managed the sale of music service Songza to Google GOOG -0.27% has been hired to manage the process. No word yet on asking price.
OUYA originally raised $15 million in Series A funding in early 2013 from investors like Kleiner Perkins, Mayfield Fund, Occam Partners, Shasta Ventures and NVIDIA NVDA 0.18% . Not too long after, it quietly secured some venture debt from TriplePoint Capital.
It is unclear exactly how much was lent by TriplePoint, except that it must have been more than the $10 million that OUYA raised just two months ago from Alibaba BABA 0.06% . Debt restructuring negotiations were unsuccessful. In her memo, Uhrman writes: Given our debtholders timeline, the process will be quick. We are looking for expressions of interest by the end of this month.