With the recent bankruptcy filing of the Borders book chain — an important partner in the Kobo e-book group — Kobo faced a lot of questions about its own future. Not content to let conjecture do further damage, Kobo went on the offensive with a press release that outlined the company's current state with a degree of detail that's unusual in the e-book world, although some of the usual smoke screens are in there. Among the highlights:
- Canada-based Indigo Books & Music has invested further in Kobo and retains majority ownership.
- Kobo's e-book catalog is currently 2.3 million titles (they don't break out how many of those are free, public domain titles, although their web site notes 1.8 million free e-books, which would put paid titles in the 500,000 range).
- Kobo has 2.7 million customers in over 100 countries.
- Customer growth has been rapid, with 1 million reached in 10 months and less than 90 days more to hit 2 million.
- During peak holiday periods, e-book downloads number in the hundreds of thousands (although no word on how many are sales, how many are free titles and how many are previously purchased titles being re-downloaded).
- Leading technology companies including Samsung, RIM and HTC have chosen Kobo as their default e-reading platform, with the result that an estimated 20 million Kobo-ready devices will be in play in 2011.
- Kobo's e-reader is being sold at thousands of retail outlets world wide, including major retailers like Walmart (in the US and Canada), Best Buy (Canada), Angus & Robertsons (Australia), WH Smith (UK) and Swindon (Hong Kong).
The release also lists Kobo's firsts in its relatively short existence: first on Android, first on the soon to be released RIM Playbook, the first company to offer e-book gifting and the first to offer a 'comprehensive social experience' for e-reading (also known as Kobo Reading Life).
While the disruption at Borders is unquestionably going to impact Kobo, the company is not sitting still and licking its wounds. Kobobooks.com remains my preferred e-book retailer (thanks to a decent selection, frequent discounts and EPUB format e-books that are compatible with a wide range of e-readers), so I hope 2011 turns out well for the company despite the rocky start.