Rakuten Kobo Inc.

What began as a forward-thinking initiative within Canada's largest bookstore chain has blossomed into a global force in digital reading. The story of Rakuten Kobo starts in 2009, when Indigo Books & Music launched a cloud eReading service called Shortcovers. Recognizing the seismic shift towards digital content, Indigo made a bold move. In December of that same year, Shortcovers was spun off into an independent company and rebranded as Kobo, an anagram of 'book'. This new entity was born with a clear mission: to empower booklovers to read more, anytime, anywhere. Indigo remained a majority owner, but the venture also attracted key investors like Borders Group and Cheung Kong Holdings, signaling a strong belief in its potential. The early days were marked by rapid innovation and a drive to compete in a burgeoning market dominated by giants. The first Kobo eReader was launched in May 2010, marketed as a user-friendly and affordable alternative. This was just the beginning of a journey focused on creating a seamless and enjoyable reading experience across various devices.

A pivotal moment in Kobo's narrative arrived in January 2012 when the Japanese e-commerce powerhouse, Rakuten, acquired the company. This acquisition wasn't just a financial transaction; it was a supercharge for Kobo's global ambitions. With Rakuten's backing, Kobo embarked on an aggressive international expansion, launching in 12 new countries in just 12 months. This period of accelerated growth transformed the Toronto-based startup into a truly global player. Throughout its evolution, Kobo has remained committed to an open platform, supporting various file formats like EPUB, which sets it apart from some of its competitors. The company has also embraced self-publishing with the launch of Kobo Writing Life in 2012, providing a platform for independent authors to share their stories with a worldwide audience. Today, Rakuten Kobo stands as a leading innovator in the digital reading space, offering millions of eBooks and audiobooks, a diverse range of award-winning eReaders, and top-rated apps, continually striving to make the reading lives of its millions of users better.