Andrew Rivkin (born May 31, 1969) is a Canadian investor and entrepreneur. Rivkin is best known as the co-founder of

CryptoLogic Cryptologic Limited was a Dublin, Ireland-based software application service provider (formerly Toronto, Ontario, Canada), one of the oldest established in the online gambling industry. It was acquired by the Amaya Gaming Group in 2012 and has si ...

, a pioneering online casino software company, and

FUN Technologies FUN Technologies was an online game company based in Toronto. Founded in 2002 by Canadian businessmen Lorne Abony and Andrew Rivkin, FUN grew to become the world's largest provider of online casual games and fantasy sports, with over 35 millio ...

, one of the world's largest providers of casual games and fantasy sports.

History

Andrew Rivkin was born and raised in Toronto. He graduated from University College,

University of Toronto The University of Toronto (UToronto or U of T) is a public research university in Toronto, Ontario, Canada, located on the grounds that surround Queen's Park. It was founded by royal charter in 1827 as King's College, the first institution ...

in 1992 with a bachelor of commerce degree in finance and economics. In 2002, Rivkin co-founded Columbia Exchange Systems Software PLC with

Lorne Abony Lorne Abony (born August 26, 1969) is a Canadian businessman, currently the CEO of FastForward Innovations, Ltd, a venture capital firm. Life and career Abony was born and raised in Toronto. After graduating from the University of Windsor law ...

, another collaborator from CryptoLogic with whom Rivkin has worked with on several business ventures. In 2003, after the two raised C$1.8 million from initial investors, they rebranded the company to

before issuing two initial public offerings in short order, the first on the London

Alternative Investment Market AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market (USM) that had been in operation since 1980. It allows ...

in 2003 and the second on the Toronto Stock Exchange in 2004. In particular, Rivkin's past association with CryptoLogic was considered key to the success of the London IPO. The Meridian, Colorado based

Liberty Media Liberty Media Corporation (commonly referred to as Liberty Media or just Liberty) is an American mass media company controlled by chairman John C. Malone. The company has three divisions, reflecting the company's ownership stakes in Formula One ...

acquired a majority interest in FUN Technologies stock in 2005. Liberty Media purchased the rest of FUN Technologies in late 2007. The company was valued at nearly C$500 million at the time of its final sale to Liberty Media. Since leaving FUN Technologies, Rivkin has served as a consultant for

Mood Media Mood Media Corporation is an international in-store provider of music, digital signage, hold music, on-hold messaging, scent, integrated audio/video, and interactive mobile marketing products. It was founded in 2004, and is based in Austin, T ...

, a Toronto-based in-store media company headed by Abony. In 2009 Rivkin founded Rivkin Asset Management, an asset management firm dealing in hedge funds. In March 2011 Rivkin was involved with Mood Media's acquisition of

Muzak Holdings Muzak is an American brand of background music played in retail stores and other public establishments. The name has been in use since 1934, and has been owned by a division or subsidiary of one or another company ever since. In 1981, Westingh ...

for $345 million. Rivkin is an avid polo player and participates in several charity polo tournaments in Canada.

CryptoLogic

After founding a network business systems company while still in his teens, Rivkin moved on to co-found

in Toronto in February 1995 with his brother, Mark. Although founded as a general Internet security software company, CryptoLogic soon focused on online gambling, which had become a growth industry since

Antigua and Barbuda Antigua and Barbuda (, ) is a sovereign country in the West Indies. It lies at the juncture of the Caribbean Sea and the Atlantic Ocean in the Leeward Islands part of the Lesser Antilles, at 17°N latitude. The country consists of two maj ...

became the first country to legalize the practice in 1994. In 1996

InterCasino InterCasino established the first online casino in 1996"About us"
. InterCasino. Retrieved 18 March 2013. ...

, the world's first real wager Internet casino, went online using CryptoLogic software. By 1998 CryptoLogic was considered a major player in the emerging online casino industry, with its software used by online casinos in Curaçao and Dominica as well as Antigua and Barbuda. By mid-2000 CryptoLogic software was used by over 500,000 online casino end users worldwide and processed over $4 billion in online transactions. CryptoLogic was listed on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in t ...

in September 1998 and on the

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

stock exchange in March 2000, both during Rivkin's tenure as CEO. Citing a desire to allow new leadership to take the company to the next level, Rivkin stepped down as CEO of CryptoLogic in January 2001 but remained on the company's board of directors. In 2002, after Rivkin stepped down as CEO, the Canadian business magazine ''Profit'' estimated CryptoLogic experienced a 26,181 percent growth rate over the previous five years, which made it the fastest-growing business in Canada during that period. Also in 2002 CryptoLogic was named the top company in the Profit 200.

FUN Technologies

In 2002, Rivkin co-founded Columbia Exchange Systems Software PLC with

, another collaborator from CryptoLogic with whom Rivkin has worked with on several business ventures. After the two raised C$1.8 million from initial investors, they rebranded to "FUN Technologies."(CB)(PG) The company issued two initial public offerings in short order, on the London

in 2003 and the Toronto Stock Exchange in 2004. In particular, Rivkin's past association with CryptoLogic was considered key to the success of the London IPO. The Meridian, Colorado based Liberty Media acquired a majority interest in FUN Technologies stock in 2005. Liberty Media purchased the rest of FUN Technologies in late 2007. The company was valued at nearly C$500 million at the time of its final sale to Liberty Media.

References

{{DEFAULTSORT:Rivkin, Andrew 1969 births Businesspeople from Toronto Canadian investors Canadian Jews Living people University of Toronto alumni