Amazon buys Goodreads, wants to help you find your next book
Amazon has announced that it has acquired Goodreads, a website focused on book recommendations for reading junkies. The deal should bolster better reading recommendations for Kindle users and allow them better to discuss and share the book they're currently digging their nose in.
Amazon and Goodreads didn't disclose the terms of the deal, but it is expected to be closed in the second quarter. Goodreads says it bolsters 16 million members as part of more than 30,000 book clubs.
"Amazon and Goodreads share a passion for reinventing reading,” said Russ Grandinetti, Amazon vice-president of Kindle content. "Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world."
Neither company went into specifics on how Goodreads will be integrated into the Kindle platform. At any rate, it should reap benefits for both companies: Amazon will get better services and Goodreads will see a massive influx of users. Goodreads also announced that it will make Kindle support among its "top priorities", as the staff will stay in their offices in San Francisco to continue supporting the platform.
"In addition, both Amazon and Goodreads have helped thousands of authors reach a wider audience and make a better living at their craft," said Grandinetti. "Together we intend to build many new ways to delight readers and authors alike.”
In a blog post, Goodreads CEO and co-founder Otis Chandler highlighted his opinions on the deal.
"With the reach and resources of Amazon, Goodreads can introduce more readers to our vibrant community of book lovers and create an even better experience for our members," Chandler said. "Our members have been asking us to bring the Goodreads experience to an eReader for a long time. Now we’re looking forward to bringing Goodreads to the most popular eReader in the world, Kindle, and further reinventing what reading can be."
Update: AllThingsD reports Amazon paid between $150 - $200 million for Goodreads.