Uhrman reportedly wrote that Ouya's focus is "now is trying to recover as much investor capital as possible," according to Fortune's report, and that investment bank Mesa Global has been brought on to manage the sale.
The company hopes to find an interested buyer by the end of April, according to Uhrman's email.
Ouya raised more than $8.5 million on Kickstarter in 2012, thanks to more than 63,000 backers. It later received $15 million in venture capital from Kleiner Perkins Caufield & Byers, the Mayfield Fund, Nvidia, Shasta Ventures and Occam Partners.
The $99 console launched in retail stores in June 2013, about three months after it first rolled out to backers on Kickstarter.
In 2014, Ouya announced plans to embed its platform in other devices, and later partnered with Chinese firm Xiaomi to add Ouya features to the company's set-top boxes. Ouya also reportedly made a deal with e-commerce giant Alibaba, who invested $10 million in the Ouya to bring its platform to Alibaba's set-top boxes.
Polygon has reached out to Ouya for comment.