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Whereas some of Amazon's competitors were either pro-Agency (iBooks, Smashwords), or were simply silent on the subject (Sony), Kobo has always been starkly anti-agency.
I suspect the up-tick in Kobo discount codes recently (and in how generous they are) is due to the anticipated end of agency pricing for at least 3 of the big 6 soon. Better now to start building mindshare amongst those who are willing to shop around, eh?
And Kobo has massive financial backing now thanks to Rakuten, which doesn't hurt.
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