Amazon.com to Acquire Goodreads
On 29th March 2013, Amazon officially announced that it would be buying Goodreads, a social networking website for book lovers. The idea behind this partnership is to redevelop the habit of reading among people. The deal will be finalized in a few months, leading to the merging of these two popular sites sometime between April and August.
Amazon is a world famous online shopping website with a wide range of products on sale. The site came into existence in 1995. Amazon itself began its journey as an e-bookstore. Later on, more products were added to it. Today, you can find right about anything for shopping on Amazon.com.
On the other hand, Goodreads is an online social network for book readers around the world. It was developed in 2007; more than a decade later than Amazon.com went online.
Goodreads allows book lovers to discuss their favorite books with other folks on the network, check out book reviews, discover new books to read as well as create and join book clubs. Today, there are 16 million Goodreads users sharing their love for reading. Other than people who love to read, Goodreads is a useful site for authors as well. They can promote their books through this online community.
The Chief Executive of Goodreads, Otis Chandler, promises that the acquisition of the website by Amazon.com is not going to diminish the fun for its 16 million users. In fact, he shows his optimism about this partnership, hoping that Goodreads and Amazon.com will work together to reach out to a wider audience.
Similarly, the Vice President of Amazon, Russ Grandinetti, also believes that the acquisition of the world’s biggest online community for book lovers is going to benefit readers and authors alike.
Amazon is famous for developing a popular e-reading gadget, Kindle. Moreover, it is also into the book publishing business now. Therefore, its ownership of Goodreads is expected to help in its business by increasing sales of its published books as well as Kindle.