Intellivision falls on hard times
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Phil Adam, CEO of Intellivision, posted a message to customers who are expecting to get shipments of the company’s Amico game console.
He thanked people for their patience and noted that when he took over the CEO job from founder Tommy Tallarico (who took time off to take care of an ailing father), he said he had to make some tough decisions to ensure the company could launch a quality product. He said he pulled down an investment campaign on StartEngine a few weeks after it launched in February of this year. The original schedule was to launch in October 2020, but the pandemic put an end to that plan and Intellivision has been trying to adapt ever since.
“Without better visibility of our path to profitability we felt this was the right decision in the short term,” Adam said. “Any funds committed by StartEngine investors as part of the campaign were returned in full. Of course, this required us to take other financial measures to make up for the foregone new investment.”
He said the company has dramatically reined in operating costs, which unfortunately required a significant reduction in staff.
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“Our resources are focused on engineering and testing to ensure we have a quality system, as we cannot succeed by producing anything less,” he said.
The company started working with game development partners to license classic Intellivision
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