Kobo Raises $50 Million for International Expansion

It’s been just over a month since Kobo started the last round of financing, and Kobo announced today that the funds have been collected and the financing is complete.

In today’s press release Kobo has just released details on its most recent round of financing. It has raised $50 million from investors and will “use the new funding to continue its explosive growth internationally”.

I noticed one interesting detail. Kobo is reporting that it picked up half a million more users since this round of financing started just over a month ago. What is that, 5 weeks? Impressive. And of course there is the local eBookstores opening in May in Germany and Spain, with more eBookstores in France, Italy and the Netherlands following this summer.

Indigo, the Canadian based parent of Kobo Books, will continue to be the majority shareholder.

Update: One detail I missed when I read the press release earlier today was that this announcement was actually the conclusion of last month’s story, not a new round of financing. This post has been edited to reflect that.