Crowdfunded Android Console Ouya Reportedly Seeking Buyout

Posted by Soulskill on Wednesday April 29, 2015 @04:28AM from the internet-doesn't-want-what-it-says-it-wants dept.

An anonymous reader writes: Ouya, the Android-based games console, enjoyed one of the most successful crowdfunding campaigns to date, raising $8.6 million after asking for only $960,000. But now that the console has been on the market for a while, the company is struggling. After borrowing roughly $25 million from investors to keep it going, they're now trying to restructure the debt, and reportedly seeking a buyout. "Interest in Ouya's microconsole has dropped considerably since its launch back in 2013, where it had to offer store credit to dissatisfied Kickstarter backers for failing to deliver devices on time. Following disappointing sales figures for early games, the company has tried several times to turn its fortunes around."

1 of 123 comments (clear)

Min score:

Reason:

Sort:

Tablets and technology march on by Big_Breaker · 2015-04-29 04:43 · Score: 4, Interesting

Ouya has loads of competition now from ARM "sticks" and media adapters like the Fire, Roku or Cu Box. And each year brings more capable hardware while Ouja stays the same. The new raspberry pi 2 or Amazon Fire are arguably superior in all ways. Certainly both those alternatives make excellent XBMC/Kodi boxes.
And competition has also come from tablets in terms of casual gaming. Tablets benefit from huge economies of scale and large online market ecosystems. Ouja was always going to be a niche market appealing to techies and gamers.