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.

Gaming

Microsoft CEO says Project xCloud is the ‘Netflix for games’

Microsoft CEO Satya Nadella referred to the company's Project xCloud game streaming service as "Netflix for games." The service will let users play Xbox and PC games on a variety of devices.
Smart Home

Speed up cooking with one of the best pressure cookers on the market

Not all pressure cookers are created equally. You have to choose between stovetop cookers, multicookers, canners, and even microwave cookers. Our pressure cooking buyer's guide includes our picks for the best in each category.
Home Theater

Sling TV offers free shows, a la carte subscription channels to Roku users

If you are among a select group of Roku users, Sling TV has added free TV shows and the option to subscribe to individual channels without having to subscribe to the company's base level of channels.
Mobile

Samsung's advanced folding phone needed 'total reconfiguration' to make it real

Samsung has been showcasing bendable display tech for a few years and now a folding smartphone might finally arrive. The Galaxy X, or perhaps the Galaxy Fold, may be the company's first example. Here's everything we know about it.
Gaming

Dataminers discover SNES games, more emulators for Nintendo Switch Online

Nintendo Switch Online may soon launch SNES games and more emulators, according to data miners. The list of hidden SNES titles include Breath of Fire 2 and Star Fox 2, while the other emulators may be the Nintendo 64 and Nintendo GameCube.
Gaming

‘RollerCoaster Tycoon 2’ ride takes 12 years to complete

A RollerCoaster Tycoon 2 player has constructed a coaster in the game that will take more than 12 years to complete from beginning to end, and is actually a tiny ride taking up a small portion of the landscape.
Product Review

'New Super Mario Bros. U Deluxe' is 2D platforming wizardry

New Super Mario Bros. U Deluxe is the latest Wii U game to come back from the dead on Switch. And wow, it’s much better than we remembered.
Gaming

‘Battlefield V’ adds Squad Conquest mode in ‘Lightning Strikes’ update

Electronic Arts and DICE have detailed what is included in the Battlefield V update Lightning Strikes. The update includes access to the mode Squad Conquest through the end of January.
Gaming

Here's everything you need to know to trade in 'Pokémon Go'

After literally years of waiting, Pokémon Go finally gives trainers the option to trade Pokémon with others. It's not easy, though, and the cost is quite high if you try trading with strangers.
Gaming

You're never too broke to enjoy the best free-to-play games

Believe it or not, free-to-play games have evolved into engaging, enjoyable experiences. Here are a few of our favorites that you can play right now, including Warframe and the perennially-popular League of Legends.
Gaming

‘Rocket League’ is the latest game to get full cross-platform play

Psyonix has announced that Rocket League now supports full cross-platform play across PlayStation 4, Xbox One, Nintendo Switch, and PC, joining Fortnite as the only games to do so.
Gaming

Here's what you need to know about 'World of Warcraft: Battle for Azeroth'

World of Warcraft: Battle for Azeroth is the latest expansion for the now 14-year-old MMORPG. It goes back to the roots of the Alliance vs. Horde conflict. Here's what you need to know.
Virtual Reality

Think virtual reality is just for games? These awesome apps will change your mind

Virtual reality isn't all about gaming. Swim with turtles, paint in 3D, and immerse yourself in some unique experiences the platform has to offer with our curated list of the best VR apps.
Gaming

Latest ‘Fortnite’ update channels Halo with a scoped revolver

The latest update for Fortnite, update 7.20, is now available, and it brings a new Scoped Revolver weapon to the game alongside the returning Glider item and a limited-time Snipers-only mode.