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By late summer 2011, Kobo had an e-reader and 5 million users worldwide, but was burning through cash at an alarming rate, and Indigo was suffering from its own financial woes. That's when Japanese e-commerce giant Rakuten stepped in.

Audible is launching its first Canadian dedicated service, marking the first time the Amazon subsidiary is launching a bilingual website.

Kobo is expanding its content to include audiobooks and it's competing with Amazon with a low price and some original content plans.

Kobo says there's a healthy market for premium e-readers and it's updating its mid-range waterproof device, the Aura H20.