Kobo raises $50m for ‘explosive’ international growth

One-year-old eBook company Kobo has raised $50 million, says All Things Digital, as it looks to take on cashed-up rivals Google, Apple and Amazon.

The Canadian company says existing investors, Indigo Books & Music, and Cheung Kong Hong Holdings, dipped in $13 million.

The funding will be used to continue Kobo’s “explosive growth internationally”, its CFO Greg Twinney says.

Kobo, which has more than three million users, is looking to launch content stores in Germany, the report says.