Amazon to buy GoodReads

goodreadsExciting news! According to Galleycat, yesterday Amazon reached an agreement to buy the popular social networking site GoodReads, which we mentioned in our recent article about social media.

Here’s what the press release says:

“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.”

 

Founded in 2007 and headquartered in San Francisco, Goodreads is home to about 16 million members and over 30,000 book clubs. The press release put out yesterday also says that “over just the past 90 days, Goodreads members have added more than four books per second to their “want to read” shelves.” However, there’s no way to buy books directly from the site after learning about them, so our guess is that Amazon will seek to become Goodread’s go-to ebook seller through this deal.

The agreement isn’t expected to close until the second quarter of 2013 so there’s no telling what Amazon’s plans are yet, but Chandler has assured his members that there’s nothing to worry about. “Goodreads will continue to be the wonderful community that we all cherish,” he said in today’s note. “We plan to continue offering you everything that you love about the site—the ability to track what you read, discover great books, discuss and share them with fellow book lovers, and connect directly with your favorite authors—and your reviews and ratings will remain here on Goodreads.”

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