Andrew Rivkin facts for kids

Andrew Rivkin, born on May 31, 1969, is a Canadian businessman and investor. He is famous for starting two big companies. One was CryptoLogic, which made software for online games. The other was FUN Technologies, a huge company for fun online games and fantasy sports.

Andrew Rivkin's Journey

Andrew Rivkin grew up in Toronto, Canada. He went to the University of Toronto. In 1992, he earned a degree in business, focusing on money and how the economy works.

Starting FUN Technologies

In 2002, Andrew started a new company. He worked with Lorne Abony, who he knew from his earlier company, CryptoLogic. They called their new company Columbia Exchange Systems Software PLC.

In 2003, they raised C$1.8 million from early investors. Then, they changed the company's name to FUN Technologies. They quickly made the company public on two stock exchanges. First, in London in 2003, and then in Toronto in 2004. Andrew's past success with CryptoLogic helped make the London stock offering a big hit.

A company called Liberty Media bought most of FUN Technologies in 2005. Liberty Media then bought the rest of the company in late 2007. At the time of this final sale, FUN Technologies was worth almost C$500 million.

After FUN Technologies

After leaving FUN Technologies, Andrew Rivkin worked as a consultant for Mood Media. This company is based in Toronto and provides music and media for stores. In 2009, Andrew started his own company, Rivkin Asset Management. This firm manages money for investors, including special funds called hedge funds.

In March 2011, Andrew was involved when Mood Media bought Muzak Holdings. This deal was worth $345 million. Andrew Rivkin also enjoys playing polo. He takes part in many charity polo games in Canada.

CryptoLogic: A Pioneer in Online Gaming

When he was still a teenager, Andrew Rivkin started a company that built network systems. Then, in February 1995, he co-founded CryptoLogic in Toronto with his brother, Mark. CryptoLogic first focused on internet security software. But soon, it shifted to online gambling. This was a fast-growing industry, especially after Antigua and Barbuda made it legal in 1994.

First Online Casino

In 1996, InterCasino became the world's first internet casino where people could bet real money. It used CryptoLogic's software. By 1998, CryptoLogic was a major player in the new online casino world. Its software was used by casinos in many countries. By mid-2000, over 500,000 people worldwide used online casinos with CryptoLogic software. The company processed over $4 billion in online money transactions.

Growth and Leadership

CryptoLogic was listed on the Toronto Stock Exchange in September 1998. It was also listed on the NASDAQ stock exchange in March 2000. Andrew Rivkin was the CEO during these times. In January 2001, Andrew stepped down as CEO. He wanted new leaders to help the company grow even more. However, he remained on the company's board of directors.

In 2002, after Andrew left his CEO role, a Canadian business magazine called Profit looked at CryptoLogic's growth. They found the company had grown by an amazing 26,181 percent in five years. This made it the fastest-growing business in Canada during that time. Also in 2002, CryptoLogic was named the top company in the Profit 200 list.