Kobo Raises $50 Million for International Expansion

Kobo may have been outgunned in the U.S. market with Amazon Kindle and B&N Nook making it difficult for other dedicated e-readers to stay competitive. At the same time, the company has lofty international plans. The Toronto-based company has raised $50M to expand its international operations. The company already has presences in Germany and Spain. Kobo does intend to improve its product in the U.S, though it is not clear how the company will ever beat the big boys in the e-reader market.

Kobo does have a decent product and has done a good job bringing its platform to mobile devices. The company had a lot of momentum when it had the cheapest e-reader on the market. From the looks of it, it will have to rely on that strategy again to expand in the U.S. and Canada. Kobo software does come pre-loaded on PlayBook, but it will have to be preloaded on many more popular devices to help Kobo grow its market.

Borders may be in trouble but Kobo is not going anywhere. Will we see a new E-ink based device from the company? The jury is out on that.