Report reveals Ouya needs to find a buyer, and fast

ouya console controller
Ouya, the Android-based video game console, is in trouble. After failing to restructure its debt, a leaked email from Ouya CEO Julie Uhrman obtained by Fortune revealed the company is in dire need of a buyer if it hopes to keep moving forward.

Even with the company’s $10 million investment from Alibaba in February and $15 million in investments from one of its funding rounds two years ago, Ouya still needs to recover an unspecified amount of investor capital. In order to do so, Uhrman explained in the email that Ouya, the company’s Android microconsole that shares the company’s name, still holds value, even when compared to the competition.

“We believe we’ve built something real and valuable,” wrote Uhrman. “I continue to read the tweets and emails of our fans who play OUYA every day, and our catalog is now over 1,000 apps and 40,000 developers. We have the largest library of Android content for the TV (still more than Amazon) — hells ya!”

With this value, Ouya hopes to recover investor capital through its agreements with Xiaomi and Alibaba, which will see Ouya’s library make its way to Xiaomi and Alibaba boxes in China. Unfortunately, the report insinuated that Ouya tripped a debt covenant. In other words, Ouya reached the point of no return financially, forcing the company to quickly find a buyer.

In the email, Uhrman hopes that interested parties would step up by the end of April, which is just a couple of days away.

Ouya officially launched in 2012 on Kickstarter, positioning itself as a way to play Android games on your TV, hence its Android microconsole classification. The console shipped to Kickstarter backers and became available to the masses in 2013, but it received a rather lukewarm reception. Unfortunately, with competitors like Razer, Nvidia, Amazon, and even Google, Ouya’s future doesn’t look bright.

Computing

Nvidia faces attacks from AMD, Intel, and even Google. Should it be worried?

Nvidia announced an expanded array of RTX server solutions designed to leverage the power of ray-tracing at GTC 2019. The effort will help Nvidia take on Google's Stadia in game streaming with GeForce Now, and the company's investments in…
Movies & TV

MoviePass returns to unlimited movies plan, but with plenty of restrictions

Troubled subscription-based movie service MoviePass is making headlines on a daily basis lately, and not in a good way. Here's a timeline of events for the company once described as Netflix for movie theaters.
Movies & TV

Disney completes its $71.3 billion purchase of 21st Century Fox

Now that Walt Disney Company has closed its $71.3 billion purchase of 21st Century Fox's movie and television assets, what does this future hold for franchises like X-Men, the Fantastic Four, The Simpsons, and the rest?
Mobile

Sony's Xperia 10 smartphone boasts a 6-inch screen and is now available

Sony took the wraps off of three new phones at Mobile World Congress 2019, including the new Xperia 1, which is the company's new flagship phone and the first with a 4K OLED display with a 21:9 aspect ratio.
Gaming

Find the buried treasure with our Fortnite weekly challenge guide

The Fortnite season 8, week 4 challenges are now out for all players around the world. The big one this week tasks players with searching for Fortnite buried treasure using the buried treasure map item. Here's where you can find treasure on…
Gaming

Here's our Champion's guide to picking the best character in Apex Legends

Apex Legends' use of heroes with different abilities helps separate it from other battle royale games. To help you choose your legend, we've put together a legend guide detailing their abilities, strengths, and weaknesses.
Gaming

Nintendo Labo: VR Kit has a ton of games you can play with starting April 12

Nintendo Labo: VR Kit has a plethora of games to play after you're done building the Toy-Cons. From an on-rails alien shooter to a deep sea photography adventure, here's what you can play with Labo: VR Kit. You can even make your own games.
Deals

The best Nintendo Switch deals and bundles for March 2019

Looking to score Nintendo's latest console? We've smoked out the best Nintendo Switch deals right here, including discounts on bundles that feature must-have games like Super Mario Odyssey, Super Smash Bros. Ultimate, and Zelda: Breath of…
Gaming

How to break Posture and deal a Shinobi Deathblow in Sekiro: Shadows Die Twice

Sekiro: Shadows Die Twice is an incredibly difficult game, and managing the Posture system is a key part of improving and tackling the latest From Software title's most challenging sections.
Gaming

Here's what we know about the Dark Souls developer's next game

Sekiro: Shadows Die Twice is the latest game from Dark Souls and Bloodborne developer From Software. Here is everything we know about the new game, including its setting and combat changes.
Gaming

Here's where Xur is and what he has for wares this week in Destiny 2: Forsaken

The weekly vendor in Destiny 2: Forsaken always brings Exotic weapons and armor, some of the toughest loot to find in the game. Here's everything you need to know to track down Xur: Where he is, when he shows up, and what he's stocking.
Gaming

Here's a look at how the Epic Games Store is sizing up to the competition

The Epic Games Store has picked up exclusives left and right since its launch last December. From AAA games like The Division 2 to wonderful indies like Hades, the Epic Games store has an impressive library of exclusives.
Gaming

Get Sekiro: Shadows Die Twice for free when buying an Xbox One

You can get Sekiro: Shadows Die Twice for free when buying an Xbox One from Newegg. Eight different bundles are available for this deal, so you can walk away with Sekiro and another game such as The Division 2 or Anthem.
Gaming

Master Shinobi combat with our Sekiro: Shadows Die Twice beginner's guide

Sekiro: Shadows Die Twice is one of the hardest games of the generation, and it can be overwhelming, even for those who have played From Software's other games. Here is what you need to know to get started.