Good lord! The growing dominance of Amazon seems endless.
The internet bookselling giant has bought Goodreads
Amazon.com, Inc. (AMZN) today announced that it has reached an agreement to
acquire Goodreads, a leading site for readers and book recommendations that
helps people find and share books they love.
“Amazon and Goodreads share a passion for reinventing reading,” said Russ
Grandinetti, Amazon Vice President, Kindle Content. “Goodreads has helped change
how we discover and discuss books and, with Kindle, Amazon has helped expand
reading around the world. In addition, both Amazon and Goodreads have helped
thousands of authors reach a wider audience and make a better living at their
craft. Together we intend to build many new ways to delight readers and authors
alike.” “Books – and the stories and ideas captured inside them – are part of our social fabric,” said Otis Chandler, Goodreads CEO and co-founder. “People love to talk about ideas and share their passion for the stories they read. I’m incredibly excited about the opportunity to partner with Amazon and Kindle. We’re now going to be able to move faster in bringing the Goodreads experience to millions of readers around the world. We’re looking forward to inspiring greater literary discussion and helping more readers find great books, whether they read in print or digitally.”
Following the acquisition, Goodreads’s headquarters will remain in San Francisco, CA. Founded in 2007, Goodreads now has more than 16 million members and there are more than 30,000 books clubs on the Goodreads site. Over just the past 90 days, Goodreads members have added more than four books per second to the “want to read” shelves on Goodreads.
Terms of the acquisition were not disclosed.
Subject to various closing conditions, the acquisition is expected to close in
the second quarter of 2013.
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