Printed from http://www.electronista.com

Kobo gets $50 million in cash, expands worldwide

updated 04:30 pm EDT, Tue April 19, 2011

Kobe gets $50m investment, outlines world plans

Kobo has just announced securing $50 million in investment, the majority of which came from who is only being identified as a "leading institutional investor." The rest, $13 million, came from existing investors. This money will be used to fund Kobo's international growth, said Kobo CFO Greg Twinney.

At the same time, the company said it will bring content stores to Germany, which is the largest e-book market outside of the US. It and a store in Spain are due to launch in May, while France, Italy and the Netherlands will also get dedicated stores later in the summer. Each will have local content like books, magazines and newspapers at these stores. Kobo currently has dedicated stores in the US, Canada, the UK, Australia, New Zealand and Hong Kong.

Kobo's eReading app is preloaded on the recently-launched BlackBerry PlayBook and Samsung's Galaxy Tab.






By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Prong PWR Case

Ultimately there's one thing we all want from smartphone accessories; we want options. When it comes to keeping our iPhone charged, we ...

iHome iBT74 Color Changing Bluetooth Speaker

There's no reason why your tech can't look good while doing what it was designed to do. That's the reason that sports cars look good a ...

Logitech Gaming Daedalus Prime Mouse

Logitech Gaming continues to expand upon its peripherals line, with each one looking to fit neatly into a breadth of gaming needs. Bui ...

Advertisement

toggle

Most Commented