Andrew Rivkin facts for kids

Andrew Rivkin (born May 31, 1969) is a Canadian businessman and investor. He is famous for starting two important companies: CryptoLogic and FUN Technologies. CryptoLogic helped create the first online games, and FUN Technologies became a big company for fun online games and fantasy sports.

Andrew Rivkin's Early Life and Education

Andrew Rivkin grew up in Toronto, Canada. He went to the University of Toronto and finished his studies in 1992. He earned a degree in business, focusing on money and how economies work.

Starting CryptoLogic

In February 1995, Andrew Rivkin co-founded a company called CryptoLogic in Toronto. He started it with his brother, Mark. At first, CryptoLogic worked on internet security. But soon, they saw a big opportunity in online gaming. This was a new and growing industry.

In 1994, Antigua and Barbuda was the first country to make online gaming legal. This opened the door for companies like CryptoLogic.

The First Online Casino

In 1996, the world's first online casino where people could play for real money, called InterCasino, started using CryptoLogic's software. By 1998, CryptoLogic was a major player in the online casino world. Their software was used by casinos in many places.

By the middle of 2000, over 500,000 people worldwide were using online casinos powered by CryptoLogic. The company handled over $4 billion in online money transactions.

CryptoLogic Goes Public

CryptoLogic became a publicly traded company in September 1998. Its shares were listed on the Toronto Stock Exchange. In March 2000, it also joined the NASDAQ stock exchange. Andrew Rivkin was the CEO during this time.

In January 2001, Rivkin decided to step down as CEO. He wanted new leaders to help the company grow even more. However, he stayed on the company's board of directors.

In 2002, a Canadian business magazine called Profit reported on CryptoLogic's amazing growth. The company had grown by 26,181 percent in five years. This made it the fastest-growing business in Canada at that time. CryptoLogic was also named the top company in the Profit 200 list.

Founding FUN Technologies

In 2002, Andrew Rivkin started another company called Columbia Exchange Systems Software PLC. He co-founded it with Lorne Abony, who he had also worked with at CryptoLogic.

After they raised C$1.8 million from early investors, they changed the company's name to "FUN Technologies." The company quickly offered its shares to the public twice. The first time was in London in 2003, and the second was in Toronto in 2004. Andrew Rivkin's past success with CryptoLogic was very important for the London stock offering.

Sale to Liberty Media

In 2005, a company called Liberty Media, based in Meridian, Colorado, bought most of FUN Technologies' shares. Liberty Media then bought the rest of FUN Technologies in late 2007. At the time of its final sale, FUN Technologies was worth almost C$500 million.

Rivkin's Later Ventures

After leaving FUN Technologies, Andrew Rivkin became a consultant for Mood Media. This is a company in Toronto that provides music and media for stores. Lorne Abony, his former partner, leads Mood Media.

In 2009, Rivkin started his own company called Rivkin Asset Management. This company manages money for investors, including special investment funds called hedge funds.

In March 2011, Andrew Rivkin was involved in a big deal. Mood Media bought another company called Muzak Holdings for $345 million.

Andrew Rivkin also enjoys playing polo. He takes part in several charity polo games in Canada.