Amazon Faces Serious International Competition, From Japan

A major deal was announced yesterday which should propel Kobo into the top tier. The Japanese e-commerce giant Rakuten purchased Kobo Рoutright Рin a straight cash deal for $315m. It sounds like Kobo will continue to be run as a standalone company Рthe CEO is staying in place and all the employees are keeping their jobs Рonly now they will have the financial backing of one of the Top 10 internet companies in the world. Make no mistake, this deal means that Kobo is now a serious player.