The product lineup went on to consist of the base model Kobo Touch, the smaller Kobo Mini, and the Kobo Glo, which has an illuminated screen. The first Kobo eReader was introduced in 2010. Kobo produces several eReaders with ePaper screens. The company reported that romance and mystery novels continued to be bestsellers during the pandemic, and that there was a rise in books for kids and young adults. ĭuring the COVID pandemic, Kobo worked with governments, publishers, and retail partners to provide more than 20 million free books through the “Stay Home and Read” program. On, Waterstones announced it had sold its eBook business to Rakuten Kobo Inc., and as of 14 June 2016, users were required to access their eBooks via Kobo's eBook site. Rakuten acquired the company from these owners in January 2012.
As of March 2010, Indigo Books & Music owned 58% of Kobo Inc.
Indigo remained the majority owner, with investors including Borders Group, Cheung Kong Holdings, and REDgroup Retail taking minority stakes. In December 2009, Indigo renamed the service Kobo and spun it off into an independent company.
Kobo originated as Shortcovers, a cloud eReading service launched by the Canadian bookstore chain Indigo Books and Music in February 2009. It is headquartered in Toronto, Ontario, and is a subsidiary of the Japanese ecommerce conglomerate Rakuten. Rakuten Kobo Inc., or simply Kobo, is a Canadian company that sells ebooks, audiobooks, ereaders and tablet computers.
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