Canadian book retailer Indigo had been taking a number of steps to prepare it self for the digital ebook world. Over the last year the company has 
been hard at work on their Shortcovers online service that brings book to the digital format. Yesterday the company announced the service has been re-branded to Kobo (an anagram for book).
Kobo is backed by Indigo Books & Music, Borders, REDGroup Retail, and Instant Fame, a subsidiary of Cheung Kong Holdings, a global investment conglomerate with interests in retail and telecommunications. A round of financing totaling $16M has also been raised to help with further expansion and global distribution plans on four continents by the end of 2010.
Books can be downloaded and read on number of mobile devices, eBook readers and Mac or PC machines.
Founder of Profectio of business sites which includes 
