Kobo reports fourth quarter surge

Kobo reports fourth quarter surge

Kobo has seen strong international growth, leading to a rise in 2013 fourth quarter revenues of 44% year-on-year.

Kobo's parent company Rakuten announced the "rapid growth" as part of its year-end and fourth quarter results announcement.

It said Kobo's users had increased by over  six million to 18 million between 2012 and 2013.

Since Rakuten acquired Kobo from Indigo Books & Music in 2011, the company has grown substantially in international markets, growing business by partnering with local book chains in many areas. Its 18 million users comes from 190 countries who have access to over four million titles across 68 languages.

Earlier this month, Kobo announced its founder Mike Serbinis would step down as c.e.o and be replaced by Takahito "Taka" Aiki, the former c.e.o of Rakuten-owned telecomms company Fusion Communications.