Kobo Starts $10 Million Fund to Inspire People to "Read On" and Make a Difference - Launches Reading Revolution and Epic One Trillion Minute Challenge

May 25, 2011, 12:11 ET from Kobo

NEW YORK, May 25, 2011 /PRNewswire/ -- BOOKEXPO AMERICA -- Kobo, a global leader in eReading with over 3.6 million readers today announced a new $10 million fund to inspire readers of all ages to read more and make a difference in their community.  For every 10 million minutes read with Kobo up to one trillion minutes, Kobo will support an initiative suggested by Kobo customers to bring eReading to schools and communities in need.  Readers can sign up and begin making a difference now at www.kobo.com/ReadOn.

"At Kobo we believe in the power of reading.  Today, the average person spends five times more time watching TV than reading, schools continue to be underfunded and libraries are disappearing.  We have an opportunity to change that with Read On," said Michael Serbinis, CEO, Kobo.   "At a time when technology is taking the printed word through an evolution, we are starting a revolution – a reading revolution."

Kobo has created the One Trillion Minute Challenge to inspire people to make reading a bigger part of their lives, and make a difference in their local community.  Every minute read with Kobo counts towards achieving this epic challenge and funding eReading programs in schools and community organizations.

Readers can get started with Read On today:

  • Sign up at www.kobo.com/ReadOn
  • Name your cause: A school, or community organization dedicated to learning
  • Start reading with Kobo: Every minute read counts
  • Track progress: Using Kobo's innovative social platform Reading Life
  • Tell friends: Use Facebook, Twitter, Reading Life, blogs and podiums at schools and community centers to spread the word, and help make a difference
  • Check the one trillion minute counter, updated in real-time at www.kobo.com/ReadOn

For every 10 million minutes read, Kobo will make a contribution of eReading valued between $1,000 and $20,000 to a recipient chosen through the Read On program.  Recipients will receive Read On kits including eReaders, eBooks and the materials needed to start digital reading programs in their community.  Kobo is contributing the first million dollars and will work to enlist additional partners inspired by this innovative new program.

"With Read On, our goal is to bring reading to more people in more places, inspiring people to read more and make a difference in their schools and communities.  Over 500 years ago, it took only one person and a printing press to start a revolution.  Imagine what we could accomplish today if we just Read On," said Michael Serbinis, CEO, Kobo.

More information about Kobo's Read On initiative is available at www.kobo.com/readon.  Kobo executives will also be at BookExpo America (booth 2102) from May 24-26, 2011 to discuss their "Read On" initiative with attendees.

About Kobo, Inc.

Kobo is a global eReading service with more than 2.3 million eBooks, magazines and newspapers – one of the largest eReading catalogues in the world.  Kobo believes consumers should have the freedom to read any book on any device and has attracted millions of readers from over 100 countries across the globe.  Kobo has top ranked eReading applications for iPad, iPhone, BlackBerry, Android, Windows and MacOS, and is the eReading application of choice for leading tablet OEMs.  The Kobo Wireless eReader is also available at leading retailers including Indigo, Walmart, Best Buy, Borders, WHSmith, Angus & Robertson's and Whitcoull's.  Kobo's innovative Reading Life is an industry-first comprehensive social eReading experience – Kobo users can earn awards simply for time spent reading and encouraging others.  Kobo is backed by majority shareholder Indigo Books & Music Inc, Cheung Kong Holdings, and institutional investors.

Contact: Kourtney Schepman/Irving Der
Rogers & Cowan