Canadian eBook Reader Kobo To Be Acquired By Rakuten

BY: 

Dave Forde
November 9, 2011

eBook reader Kobo announced late Thursday that it would be acquired by Japan’s Rakuten for US$315 million in cash. The Kobo was first launched in December 2009 by
Indigo Books & Music.
Hiroshi Mikitani, Chairman and CEO of Rakuten, commented on the acquisition, “We are very excited about this next step. Kobo provides one of the world’s most communal eBook reading experiences with its innovative integration of social media, such as Facebook and Twitter; while Rakuten offers Kobo unparalleled opportunities to extend its reach through some of the world’s largest regional e-commerce companies, including Buy.com in the US, Tradoria in Germany, Rakuten Brazil, Rakuten Taiwan, Lekutian in China, TARAD in Thailand, and Rakuten Belanja Online in Indonesia, and of course, Rakuten Ichiba in Japan.”
Indigo also reported its Q2 2011 results and reported 1.7% increase in revenues, and sales up the Kobo were up by 219%.

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Dave Forde


Dave “The Connector” Forde has been involved in the marketing, public relations and technology industry across Canada for over 20 years in various sales and marketing roles, he launched The Connected One network of business sites which connects buyers to the right sellers. Profectio and PR In Canada covers news about the marketing and public relations industry each day helping professionals advance their career and businesses. He also serves as an advisor to a number of businesses across the country. Find Dave on LinkedIn and Twitter.


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