Amazon acquires social reading site Goodreads
Amazon, which started off as a bookseller, has now acquired Goodreads, a social reading service. The details of the deal haven’t been disclosed, but the company did mention that the deal will be closed in the coming months.
Goodreads, which was founded in 2007, is a social reading service where users are recommended books according to their likes and is also a social network platform for book lovers. Since its launch, Goodreads has amassed over 16 million users.
“Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world,” said Russ Grandinetti, Vice President of Kindle content for Amazon. “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,” he added.
The social integration and the recommendation technology that comes with Goodreads will be a major advantage for Amazon’s e-store. Amazon will know exactly what books are doing well from readers themselves and will be able to offer deals or discounts on them to ramp up sales.