News Releases

Shortcovers Announces Financing and Rebrands as Kobo

December 15, 2009
On the success of its millionth download, Shortcovers today announced strategic financing that includes a group of investors spanning global retail and mobile sectors. The company also announced that it has formally spun out from parent company Indigo Books & Music Inc., and will now operate under the name Kobo, Inc. Kobo today raised $16 million CAD from majority shareholder Indigo Books & Music, U.S. based Borders Group, Inc., Instant Fame, a subsidiary of Cheung Kong (Holdings) Ltd., and REDgroup Retail Pty Ltd. “We have assembled a strong syndicate of investors and partners across key categories – retail and mobile distribution. We have a unique opportunity to power the eReading revolution by reaching consumers everywhere they shop today, on any ...