In 1962, the first Waldenbooks, then an independent bookstore named after Thoreau's "Walden," opened. The first Borders was a used bookstore that opened in Ann Arbor, Michigan, in 1971.
The Kmart Corporation purchased Waldenbooks, which had grown into a chain of mall-based bookstores, in 1984. In 1992, the Kmart Corporation also purchased Borders, which was steadily expanding into a chain of stores. In 1995, stock from the newly formed Borders-Walden group went public.
In 2001, Borders formed an agreement with Amazon.com to enable the stores to sell books online. By 2003, Wi-Fi was available at Borders stores through an association with T-Mobile.
In 2004, Borders reached a deal with Seattle's Best Coffee to open cafes inside their stores. After purchasing the rights, several stationery companies agreed to sell their greeting cards exclusively at Borders. In 2008, Borders launched its official online ordering site, Borders.com, which now enables the company to compete head to head with Amazon.com and Barnes and Noble's bn.com.