Amazon has announced it is acquiring the book-recommendation social network Goodreads.
Boasting more than 16 million members and 30,000 book clubs, Goodreads users can purchase books directly from the website, via a number of online retailers, including Amazon, Indigo, and Kobo. In a blog post, Goodreads CEO and co-founder Otis Chandler promises that an integration between the website and Amazon’s Kindle e-reader is “one of our top priorities.”
Chandler also writes: “Amazon supports us continuing to grow our vision as an independent entity, under the Goodreads brand and with our unique culture…. It’s important to be clear that Goodreads and the awesome team behind it are not going away.”
Financial details of the deal, expected to close in the second quarter of 2013, were not disclosed. Technology website TechCrunch reports that Goodreads has raised $2.75 million in funding since it launched in 2007.