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Amazon acquired book lovers social networking site Goodreads

Summary of News : Amazon.com ‘s acquisition of Goodreads  will help Amazon to expand its ebook empire.

This deal will be a catalyst for online reading and digital publishing as Goodreads now have adequate resources to expand itself.

This deal will give an advantage to Amazon’s ebook reader Kindle.Kindle will have access to 16 million members of good reads.

Amazon.com has acquired Goodreads, a site for voracious readers having 16 million members and 530 million  books.

amazon-acquired-booklovers-site-goodreads-2
Amazon.com ‘s acquisition of Goodreads will help Amazon to expand its ebook empire.
This deal will be a catalyst for online reading and digital publishing as Goodreads now have adequate resources to expand itself.

Amazon Vice President, Kindle Content has confirmed this. “Amazon and Goodreads share a passion for reinventing reading. 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”

Good reads was started by Otis Chandler and  Elizabeth in  2007.Goodreads is world’s largest site for readers and book recommendations.Goodreads has 16 million members and 530 million  books.

Goodreads CEO and co-founder Otis Chandler has said in a statement “Books – and the stories and ideas captured inside them – are part of our social fabric.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.”

This deal is going to strengthen Amazon’s ebook reader Kindle as with this acquitions amazon will get access to 16 million book loving users and 30,000 books club from good reads.

Good reads and Amzon has not disclosed how much amount has been paid to good reads and what are the terms of this deal.