Wednesday, April 29, 2015

Once High Flying Ouya On Block, Says Reports

Once highflying Santa Monica-based gaming console developer Ouya is on the block, after the company tripped a debt covenant from one of its investors, according to a report. The report, from Fortune, says that Mesa Global is managing the sale process for the venture backed company, which had received funding from Kleiner Perkins, Mayfield and Shasta Ventures. OUYA is led by Julie Ehrman. The company had gained attention from a hugely successful crowdfunding campaign on Kickstarter back in 2012 for its open source gaming consoles, however, those consoles apparently did not take off so well when they actually shipped. The sale comes due to debt owed to TriplePoint Capital, according to the report. The effort comes despite a funding from Alibaba in January.

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