Gaming startup OUYA needs to find a buyer quickly

From crowdfunding darling to horribly in debt.

Ouya, the company behind the Android-based microconsole of the same name, tripped a debt covenant (which means they violated the terms of a loan agreement) and is now on an auction block, according to Fortune. We do no know what the asking price is, but investment bank Mesa Global will handle the process.

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DimensionalSound1059d ago

Hardly a surprise. They were always impossible to get in touch with, and seemed to have no clue how to promote their brand in a positive and encouraging way.

Heyxyz1059d ago

I remember before Ouya came out everyone was super excited about it, then when it actually did come out everyone started to hate it.

KryptoniteTail1059d ago

It was too damn expensive for what's essentially a stripped Android tailored to your TV. That's worth like $40 because you can get a PS TV for $80.

annus1059d ago

It was one of the cheapest options for a media player (streaming 1080p) when it came out, which is where a lot of it's sales are from...

It wasn't until after that better media players starting showing up (shocking in the technology world, I know), and it's not a surprise that large companies can cut prices of their products compared to a kickstarter...

Summons751059d ago

I think I have a filthy penny on the floor of my car...but that would still be too much for this.

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