Amazon acquires Goodreads

AMAZON-GOODREADS

Your favorite social reading experience is coming to Kindle.

Amazon.com announced today that it has reached an agreement to acquire Goodreads, a popular and social media-savvy book recommending site. Founded in 2007, Goodreads allows users to track books they want to read, read and write user reviews, and form book clubs. The aspect of seeing what your friends are reading — as opposed to strangers like with an Amazon review — is part of the appeal. Currently, the site has over 16 million members with over 30,000 books clubs.

“Amazon and Goodreads share a passion for reinventing reading,” said Russ Grandinetti, Amazon Vice President, Kindle Content in a press release. “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.”

“I just found out my two favorite people are getting married,” said Hugh Howey, best-selling author of WOOL, originally a self-published book that found fans through great word of mouth on Goodreads. “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.”

The terms of the deal weren’t disclosed, except to say that the acquisition is expected to be complete by the end of the second quarter of 2013.

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