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Gaming based startup Ouya Inc said to be up for sale

Ouya

According to a leaked internal memo, popular game console maker Ouya has put itself on sale. The company hasn’t come out and confirmed this report as of yet, but it seems to be legitimate going by the contents of the memo.

Ouya started off as a Kickstarter funded gaming console a few years ago and managed to raise $8.5 million. But we saw the company taking a slightly different approach towards its business as its game inventory was made available for Android devices, while it was previously limited to just Ouya consoles.

The memo that comes from company CEO Julie Uhrman mentions that “the company had failed to satisfy one of its investors’ conditions and that renegotiation over the debt had been unsuccessful.” Talking more about the new developments, Uhrman is believed to have said – “We are looking for expressions of interest by the end of this month.”

That’s as clear a sign as we need to confirm that Ouya is indeed up for sale. Hopefully, the console itself will not cease to exist, even if the ownership changes. But if an industry rival purchases the company, we see chances of that happening as well.

What do you make of this new development with regards to Ouya?

Via: The Verge