Amazon to Acquire Goodreads
Amazon announced Thursday that it has acquired the popular book recommendation site Goodreads.
Though it is unclear at this time as to what Amazon’s purchase of Goodreads will mean for customers, authors (like Scott Turow) and others in the book industry have voiced their opinions about Amazon’s recent acquisition. One of the main concerns is that with Goodreads’ 16 million subscribers, Amazon could be building a sort of internet monopoly.
In a press release from Amazon, Goodreads CEO and co-founder Otis Chandler seemed to shed some light (however sparse) on what to possibly expect from Amazon and Goodreads after the purchase has gone through:
“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.”
Regardless of the implications of this buyout, Goodreads’ headquarters will still be in San Francisco, Calif. and the purchase will be completed by the second quarter of 2013.
The exact terms of the agreement between Goodreads and Amazon have not been disclosed.
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