MUMBAI: Amazon.com has said that it has reached an agreement to acquire Goodreads, a leading site for readers and book recommendations that helps people find and share books they love.
Terms of the acquisition were not disclosed.
Subject to various closing conditions, the acquisition is expected to close in the second quarter of 2013. Following the acquisition, Goodreads‘ headquarters will remain in San Francisco.
"Amazon and Goodreads share a passion for reinventing reading," said Amazon Vice President, Kindle Content Russ Grandinetti.
"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 Goodreads CEO and co-founder Otis Chandler. "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, Goodreads now has more than 16 million members and there are more than 30,000 books clubs on the Goodreads site. Over just the past 90 days, Goodreads members have added more than four books per second to the "want to read" shelves on Goodreads.