Amazon.com, Inc. AMZN today announced that it has reached an
agreement to acquire Goodreads, a leading site for readers and book
recommendations that helps people find and share books they love.
"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.
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