Online retailer Amazon is to buy book discovery and recommendation website Goodreads for an undisclosed sum.
Founded in 2007, Goodreads has 16 million members and is one of the most prominent online communities for readers.
The US-based social network lets readers recommend, review and discover books. Users can also buy books from online retailers, including Amazon and Barnes and Noble.
“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.
The financial terms of the deal were not disclosed, and it is expected to be completed in the next quarter.
Amazon’s electronic book service competes against a number of rivals including Google and Apple.
Read the full announcement here