Kobo might have played third fiddle to Amazon and Barnes & Noble in the e-reader space, but those strings will soon carry a different tune — the company just announced it’s being acquired by Japanese e-commerce company Rakuten for $315 million. Though Kobo’s stock was distributed a few different places (founding Canadian retailer Indigo had a majority, and defunct bookseller Borders famously had 11 percent), Rakuten has agreed to buy up the lot, giving the Japanese company a line of e-readers, tablets, ebook software and an estimated 5.6 million users to call its own. (via Kobo purchased by Rakuten, the Amazon.com of Japan | The Verge)
Completely and irreversibly out. Kobo, who had been running the backend from the start, are now the front-end brand on the Borders ebookstore.
Rats desert a sinking ship before the sailors know there’s a leak.
Well, it’s about time. Can’t help but think this’ll be overshadowed by BN’s announcement tomorrow and, you know, Borders’ ongoing bankrupcy.
Was that supposed to be a joke? I believe the answer there is: “Uh, hell no.”
Borders’ E-Book Store: From Browsing Titles to Reading Books - PCWorld