News by Andrew Kameka on Thursday March 28, 2013.
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Amazon today announced plans to acquire Goodreads, a website that focuses on discovering book recommendations based on profiles, user reviews, ratings, and personal queues for books users plan to read later. Terms for the deal were not disclosed and the acquisition is subject to stipulations yet to be resolved.
Goodreads bills itself as the world's largest social network for readers thanks to the social connections of its 16 million-member social network. Hundreds of millions of books have been saved by members and there are more than 30,000 book clubs organized on the site. In addition to maintaining an Android app that has been downloaded more than 1 million times, Goodreads has apps for the Barnes & Noble Nook line of reading devices and the Amazon Kindle Fire.
Amazon has not revealed its plans for Goodreads, but the company will continue to operate independently at its headquarters in San Francisco. An outsider could reasonably assume that Amazon purchased the company to incorporate Goodread's wealth of knowledge about readers and talent in order to strengthen Amazon's ability to recommend books to consumers. What will happen to Goodread's apps for other platforms is not yet clear, but Amazon's plans may become more transparent once the deal closes sometime in the second quarter of 2013.source: Amazon
Andrew is based in Miami, Florida.