Soon, your favorite social reading and book recommending site is going to be available on Kindle. Amazon has announced on Thursday its plans to acquire a famous online book community website – Goodreads.
Goodreads is a San Francisco based online social media-savvy book community. It was founded in 2007 by Otis Chandler and his wife Elizabeth. It proved to be paradise for book readers as well as useful for the authors of the book. This community allowed its users to track books they want to read and review books already read, recommend books to each other, know what one’s friends are reading and form book clubs. It also proved to be highly beneficial to authors as they would know the reach and popularity of their book on an online platform and that to from the end readers of the book.
Goodreads has more than 16 million users globally and claims that over 30,000 book clubs use the site. These numbers clearly and significantly boost the online retailer’s eBook services. This acquisition hits the market at the time when readers are increasingly using tablets and e-readers to search, discover and read new books and know about different authors. This acquisition will surely be a win-win situation for Amazon.
The acquisition is to be finalized in the second quarter of this year. The price of the acquisition is still not disclosed.