Amazon Faces 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 in a straight cash deal for $315m. It sounds like Kobo will continue to be run as a standalone company – the CEO is staying in place and all the employees are keeping their jobs – only 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.