Amazon.com to Acquire Goodreads

Alien Soup

Head Chef
Joined
Oct 20, 2007
Amazon.com has announced that it is in agreement to purchase Goodreads.com, a site started in 2007 for readers to find & give book recommendations.

“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.”

“I just found out my two favorite people are getting married,” said Hugh Howey, best-selling author of WOOL. “The best place to discuss books is joining up with the best place to buy books – To Be Read piles everywhere must be groaning in anticipation.”

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.
 

Kevin

Code Monkey
Staff member
Joined
Mar 20, 2004
Won't be long before "monopoly" accusations are tossed at Amazon for digital books. :coffee:
 

astonwest

Writing Fool
Writer
Joined
Nov 23, 2008
Location
Kansas
As long as they don't shun all of those like myself who prefer the Nook...or start manipulating the Goodreads review policies like they have on Amazon.
 

Kevin

Code Monkey
Staff member
Joined
Mar 20, 2004
As long as they don't shun all of those like myself who prefer the Nook...or start manipulating the Goodreads review policies like they have on Amazon.
Speaking of Nook, the Nook ecosystem might be getting a new owner, Microsoft. I did not realize before that Microsoft had previously made an investment in Nook and owns about 20% of the business. Now they are eyeing buying the majority interest outright. The plan, whether under B&N or Microsoft, is to concentrate less on the hardware market and more on the software side of it so that "Nook" is widely available as either a dedicated e-reader or as a cross-platform app' like Amazon's Kindle is. Under Microsoft "Nook" would then, of course, be given a huge boost on the Windows platform, both mobile & desktop.
 
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