TORONTO, April 19 /CNW/ - Indigo Books & Music Inc. today announced the
final closing of the series C investment round for Kobo Inc. Indigo
contributed $13 million of the $50 million in financing with the
balance contributed by leading institutional investors, as well as
current Kobo investor Cheung Kong Holdings. This round of investment
adjusts Indigo's majority ownership to 51%.
The Board of Directors of Indigo Books & Music Inc. today also approved
a quarterly dividend of 11 cents per common share to be paid on May 19th, 2011, to all shareholders of record as of May 4th, 2011.
Commenting on the newest financing, Heather Reisman, Indigo's founder
and CEO, and the Chair of Kobo said "We are immensely proud of the
strides made by Kobo into the global market. This additional investment
will foster continued explosive growth for Kobo."
Last week, Kobo announced its plans to launch local content stores in
Germany - the largest book market outside of the US - and Spain
starting in May 2011. Forging another industry first, Kobo will launch
dedicated online stores for France, Italy and the Netherlands this
summer. In providing local content and reading experiences for
European readers, Kobo continues to build on their vision of providing
a device agnostic and easy to access global eReading service.
Indigo today also launched the highly anticipated BlackBerry® PlayBook™
tablet at Indigo, Chapters and Coles stores nationally and at www.chapters.indigo.ca. The devices come preloaded with the Kobo App providing booklovers
globally with another innovative way to experience the magic of
eReading through Kobo.
Since launching in December 2009, Kobo has:
3.2 million Users: with over 1 million users added in the last 90 days.
One of the largest stores worldwide: over 2.3 million eBooks, newspapers and magazines.
A leading eReader: The Kobo Wireless eReader provides an easy to use eReader that's a joy
Top ranked eReading Applications: for iPad, iPhone, Blackberry, Android, Palm WebOS, Windows, MacOS
Localised Stores: Kobo already offers locally merchandised English language stores in
the US, Canada, UK, Australia, New Zealand and Hong Kong - with Germany
and Spain launching in May, and France, Italy and the Netherlands
launching this summer.
Leading Tablet Partners including Samsung, Research in Motion and HTC have chosen Kobo as their
global eReading platform for their mobile devices.
An Open Platform: Kobo is dedicated to an open cloud-based platform, enabling users to
build their lifetime library, and access it from any device.
The Most Comprehensive Social eReading Experience - Kobo's Reading Life; an industry-first social experience that enables passionate readers to
connect with friends to discuss their favourite books on Facebook,
build their Reading Life, and earn awards - just for reading.
Statements contained in this news release that are not historical facts
are forward-looking statements which involve risk and uncertainties
that could cause results to differ materially from those expressed in
the forward-looking statements. Among the key factors that could cause
such differences are: general economic, market or business conditions
in Canada; competitive actions by other companies; changes in laws or
regulations; and other factors, many of which are beyond the control of
About Indigo Books & Music Inc.
Indigo is a publicly traded Canadian company listed on the Toronto Stock
Exchange (IDG) and the majority shareholder of the global eReading
service Kobo, Inc. As the largest book and specialty retailer in
Canada, Indigo operates in all provinces under different banners
including Indigo Books & Music; Indigo Books, Gifts, Kids;
IndigoSpirit, Chapters, The World's Biggest Bookstore, and Coles. The
online division, http://www.chapters.indigo.ca, features books, eBooks, toys, gifts and, and hosts the award winning
Indigo Online Community.
About Kobo, Inc.
Kobo, a global eReading service with more than 2.3 million eBooks,
magazines and newspapers - one of the largest eReading catalogues in
the world. Kobo believes consumers should have the freedom to read any
book on any device and has attracted millions of readers from over 100
countries across the globe. Kobo has top ranked eReading applications
for iPad, iPhone, Blackberry, Android, Palm WebOS, Windows, MacOS and
is the eReading application of choice for leading tablet OEMs. For
more information visit Kobo.com.
SOURCE Indigo Books
For further information:
Media Contact: Janet Eger, Director, Public Relations, Indigo Books & Music Inc.,