Amazon Buys Goodreads

goodreadsAmazon has reached an agreement to acquire book recommendations site Goodreads. Terms of the acquisition were not disclosed.

Amazon is expected to keep the site as an independent entity, under the Goodreads brand. Following the acquisition, Goodreads’s headquarters will remain in San Francisco, CA. 

Goodreads currently has more than 16 million members and there are more than 30,000 book clubs on the Goodreads site.  The site was launched in January 2007 by Otis Chandler with his friend Elizabeth, who later became his wife. The company currently has a team of 35, and “We’ve got a lot of hires to make!” says Mr. Chandler. 

Subject to various closing conditions, the acquisition is expected to close in the second quarter of 2013.  


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