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[Nirolak]

The sale should happen soon if it's going to happen.

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 debtholder’s timeline, the process will be quick. We are looking for expressions of interest by the end of this month.”

....

Source: http://fortune.com/2015/04/28/exclusive-gaming-startup-ouya-needs-to-find-a-buyer-quickly/

 

[Sendou]

I really wonder who would buy it and why.

 

[Enter the Dragon Punch]

Ouno

 

[Leafhopper]

I really wonder who would buy it and why.

Was thinking the same thing.

 

[Zeyphersan]

$5

 

[phanphare]

Ouno

lol

 

[AGoodODST]

What a success story Ouya has been.

 

[Inuhanyou]

I'm probably the only one legit sad about this news :/ My Ouya is a great little emulator box. Would have loved to see an Ouya 2 with more power under the hood

 

[Mr.Mike]

Gaming company OUYA is on the auction block after tripping a debt covenant

So like, they're bankrupt?

 

[Garrett Hawke]

Would Amazon? It removes one of their competitors what with their small console-thing.

 

[BlackBuzzard]

Canada is going to miss its favourite console.

 

[TraBuch]

Now's Nintendo's chance!

 

[Bubbavelli]

I have $50 in cash and a stack of free small sandwich cards for Which Wich.


Your move ouya

 

[OnPoint]

It would make sense for someone like Amazon to swallow them up for the catalog alone, IMO.

 

[anexanhume]

Kickstutter.

 

[Kriken]

$5

$5.01

 

[-tetsuo-]

BRB gais gonna start a kickstarter to buy this

 

[Nibel]

GAF, let's do it.

Let's buy it and create our own console.

 

[WhiskerFrisker]

Man, I remember when this was first announced. I knew it wouldn't do well since I first heard about it. Kinda funny

 

[JP]

They started off in a carpark outside of E3 and they've probably ended up in a carpark outside of Walmart, this must be one of those circle of life things that people go on about.

 

[MUnited83]

Amazon aqquiring them would make sense.

 

[KnockOneOff]

$5

I honestly wouldn't at that lmao

 

[nictron]

Ouno

I was wondering how to spell that kind of a thing. You knocked it out of the park.

 

[lobdale]

Have two OUYAs, they're used every day as the satellites for our XBMC setup. Sorry to see the company go, but they put out a neat little device.

 

[malfcn]

Anything of value for Amazon?

 

[funkystudent]

Willing to trade for the $12 credit on my gamestop membership card and a used copy of Far Cry 2 for the PS3?

 

[CapitalismSucks DonkeyBalls]

GAF, let's do it.

Let's buy it and create our own console.

I'd hate to see the "kill me now" console GAF would create. We can't even count to 5 sequentially.






1

 

[The_Dama]

Never forget

 

[Lucian]

In for one.

Erm, sorry. Wrong forum.

 

[Triggerhappytel]

Would Amazon? It removes one of their competitors what with their small console-thing.

I doubt Ouya has been successful enough to be called a 'competitor' for anyone.

I can't really see anyone being interested. I mean, I guess they have a degree of infrastructure in place, but nothing that a company like Amazon or Tencent couldn't do themselves in a couple of months.

 

[jooey]

tripping a debt covenant

is this like opening a portal to hell or something

 

[Bomber Bob]

lol ouya

 

[MisterCTwo]

Is OnLive still around? Maybe the Ouya can become their new official micro console? The Ouya OnLive Network aka TOON™!!!

Spoiler

i keed, i keed!

 

[DidntKnowJack]

$99 with a free controller.

Seriously though, everyone had to see this coming. Either that or Chapter 11.

 

[Mr.Mike]

I'm not really sure what reason Amazon has to buy them. This competitor seems to have taken itself out already, and I don't think they own any of the IPs on the Ouya store?

 

[Ray Down]

Never forget

HAHAHAHAHA.

 

[Leafhopper]

is this like opening a portal to hell or something

Maybe.

 

[PeakPointMatrix]

I'm probably the only one legit sad about this news :/ My Ouya is a great little emulator box. Would have loved to see an Ouya 2 with more power under the hood

Couldn't you arguably build a modestly powered PC and get the same form and emulator function you're looking for and beyond? It's the main reason I don't understand why people really wanted this smaller "open" device in the first place when a PC could do the same.

 

[Myggen]

I'll buy it for $100.

 

[massoluk]

Clearly, NIntendo shouldn't miss this second chance!

 

[BatDan]

Would this sale include marketing courses on how NOT to promote your console?

Man, Ouya was such a trainwreck.

 

[Slayven]

They started off in a carpark outside of E3 and they've probably ended up in a carpark outside of Walmart, this must be one of those circle of life things that people go on about.

.

 

[BlackBuzzard]

is this like opening a portal to hell or something

 

[Mr-Joker]

We should hold a kickstarter and buy it, we can work up a rota to share it.

I will take Friday.

 

[mp1990]

Never forget

I'm not sure if i should laugh or get sad at this lol

 

[Blobbers]

https://www.youtube.com/watch?v=g0ha6Mb5_YQ

 

[Kuni]

Goodnight sweet prince. All the best to all affected.

 

[Triggerhappytel]

I'm not really sure what reason Amazon has to buy them. This competitor seems to have taken itself out already, and I don't think they own any of the IPs on the Ouya store?

The only reason would be if Ouya owned any desirable patents.

 

[Figboy79]

I never had any interest in the Ouya, but I feel bad, because I know some good people that work there, and I worry about what's going to become of them.

 

[SneakyStephan]

$5

4 dollars!