Amazon announced the acquisition of Goodreads, a book recommendation web site with more than 16 million members and 30,000 web-based book clubs.
Both companies share a passion for reinventing reading, said Russ Grandinetti, VP of Kindle Content for Amazon. “Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world. In addition, the companies have helped thousands of authors reach a wider audience and make a better living at their craft.”
Books, stories and ideas are part of the Goodreads social fabric, according to Otis Chandler, CEO and Co-Founder of Goodreads. “People love to talk about ideas and share their passion for the stories they read,” he said. The company now can “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.”
Terms of the acquisition, expected to close Q2 2013, have not been disclosed.