So, Amazon has a reading platform called Kindle. Goodreads has a platform that makes fairly excellent suggestions when it comes to reading materials. You probably see where this is going. This evening, Amazon announced that it was acquiring one of the more popular reading recommendation engines, and while the outfit isn't making clear what it plans to do with the technology, it shouldn't take a scholar to see how it'd bolster Amazon's Kindle reader line as well as its array of Kindle apps. (What'll happen to Shelfari, however, is perhaps a bigger mystery.)
Russ Grandinetti, Amazon's vice president of Kindle Content noted that "Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world -- together, we intend to build many new ways to delight readers and authors alike." It's entirely likely that this will add another social angle to the Kindle framework, further establishing an ecosystem where friends could see suggestions based on what they're independently reading through their own Kindle accounts. The companies are expecting the deal to be finalized in Q2, which suggests that we'll see a proper integration just as back-to-school season begins. Right, guys?
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Amazon.com to Acquire Goodreads
SEATTLE--(BUSINESS WIRE)--Mar. 28, 2013-- Amazon.com, Inc. (NASDAQ: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.