January 21, 2022

E-Readers: Kobo Completes C$50 Million VC Funding Round + 1 Million New Users in Past 90 Days

From Reuters:

Canadian e-reading service provider Kobo Inc said on Tuesday it closed a C$50 million ($53 million) investment round aimed at speeding up expansion and new product development.


Kobo said last week that it plans to launch local content stores in Germany and Spain from May, followed by stores for France, Italy and the Netherlands in the summer that offer eBooks, newspapers and magazines.


The e-reading service said it has 3.2 million users, with over 1 million added in the past 90 days.

More Info In This Kobo News Release

Numbers: The company says it provides access to over 2.3 million eBooks, newspapers and magazines .

About Gary Price

Gary Price (gprice@mediasourceinc.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.