Amazon to Acquire Goodreads

by Reads (97)

Amazon is expected to acquire literary social network Goodreads.

\"GoodreadsAccording to a statement made by Amazon yesterday, the company has plans to acquire the book recommendation website, Goodreads, with the deal expected to close in the second quarter. Details of the deal were not disclosed.

Goodreads, which is based in San Francisco, is a social networking site that allows book lovers to catalogue, rate, review, recommend and browse millions of titles. The site has over 16 million members and has generated 23 million reviews.

Amazon already sells both physical and digital copies of books via its online and Kindle services, so it shouldn\’t come as too much of a shock that the company would be interested in a service like Goodreads, as it could leverage the site’s network to reach new readers.

While the company hasn\’t disclosed what it intends to do with Goodreads once the deal is complete, it wouldn\’t be off base to think users could purchase books from Amazon via the Goodreads site or to see Goodreads integrated into the Kindle and Kindle App services.

Source: Reuters

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