Amazon To Buy Goodreads
Goodreads, the book recommendation site that allows book readers to review and share the tomes that they have read and loved is, according to reports, going to be bought by Amazon.
Goodreads, a company that was founded back in 2007 has, at the present moment, over thirty thousand individual book clubs and in total more than sixteen million members worldwide. The acquisition is perceived as a major coup for both businesses.
Speaking on the buy-out the Vice President of Kindle Content Russ Gradinetti commented that both companies shared “A passion for reinventing reading” adding further, “Goodreads has helped change how we discover and discuss books, and with Kindle, Amazon has helped expand reading around the world”. Gradinetti also said that he hoped both of the companies would find many ways to continue to delight both readers and authors young and old.
Amazon believes that the acquisition of Goodreads will help readers gain wider access to writers they otherwise might not have read and will also give both established and newer authors a bigger audience for their works.
Chief Executive of Goodreads Otis Chandler said that “Books – and the stories and ideas captured inside of them – are part of our social fabric” adding that he was "incredibly excited" about the partnering opportunity between the two companies and the possibility of bringing Goodreads to a bigger worldwide audience. It is also hoped the move will encourage people to read more, whether they choose to do so in original printed materials or electronic formats.
Goodreads main headquarters will stay in San Fransciso and the formal takeover is expected to happen in the second half of the business year.