NewsFactor – Online e-book seller Shortcovers has changed its name and is in the process of revamping its web site to better compete with rivals Amazon.com and Sony. Operating under the name Kobo following its spin-off from Indigo Books & Music, the online seller is being backed by investors that include Borders, Instant Fame, and REDgroup Retail.

Excerpted from:
Borders Backs Kobo in E-Book Challenge To Amazon
(NewsFactor)