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Amazon To Acquire Book Recommendation Service And Social Network, Goodreads
Amazon has announced that it will be acquiring book recommendation service and the reader social network, Goodreads. The service currently has around 16 million users and 30,000 book clubs, according to Amazon.
Amazon’s intention behind picking up the service may be because of the wealth of quality data generated on the service. People can review their favorite books and converse with other people. All the data these actions generate is a big deal for Amazon, which is one of the leading digital publishers and e-commerce portal for physical books. According to the the release, Amazon will be integrating Goodreads functionality into the Kindle reader thus giving readers more value along with a smooth and engaging reading experience.
This acquisition is a win for Goodreads because now the service will be accessible to millions of Kindle owners around the world. That being said, Amazon has clarified that it has no intention of shutting down Goodreads or taking the original team off it. The service will continue to function as usual and all data/reviews ownership will remain with the users.
Russ Grandinetti, Amazon’s Vice President of Kindle Content released this statement,
“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.”
Goodreads’ CEO Otis Chandler has listed 3 reasons why he is excited that Goodreads is joining Amazon.
1. With the reach and resources of Amazon, Goodreads can introduce more readers to our vibrant community of book lovers and create an even better experience for our members.
2. Our members have been asking us to bring the Goodreads experience to an e-reader for a long time. Now we’re looking forward to bringing Goodreads to the most popular e-reader in the world, Kindle, and further reinventing what reading can be.
3. Amazon supports us continuing to grow our vision as an independent entity, under the Goodreads brand and with our unique culture.
With this move, Amazon has basically established its leadership position among other digital publishing and book e-commerce companies. The Amazon publishing and consumption ecosystem has become even more tighter. The acquisition is not final yet and is expected to close during the second quarter of this year. The financials and other terms of the acquisition have not been disclosed.
Link | Official Amazon Press Release
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2013-03-29 01:31:46
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