E-Readers: Kobo Completes C$50 Million VC Funding Round + 1 Million New Users in Past 90 Days
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.
Numbers: The company says it provides access to over 2.3 million eBooks, newspapers and magazines .
About Gary Price
Gary Price (email@example.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com. Gary is also the co-founder of infoDJ an innovation research consultancy supporting corporate product and business model teams with just-in-time fact and insight finding.