Much to the dismay of many of its members the popular social book site, goodreads.com, has been snatched up by Amazon in its futher bid to dominate all forms of online and traditional publishing. The terms of the sale is still undisclosed, but it’s likely that the couple who started the site seven years ago in their living room probably won’t have to work again if they choose. Rumor is the founders of GR sold to amazon for a “low eight figure” amount (10s of millions of dollars).
But they are choosing to continue working on the site, as
drones employees of Amazon, and promise to keep it an “independent” entity.
The founders are excited about the sale (aside from the fat payday) for the following reasons:
- 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.
- 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.
- Amazon supports us continuing to grow our vision as an independent entity, under the Goodreads brand and with our unique culture.
Take it with a large grain of salt. Corporations only make acquisitions for one reason: to make money. Those corporations will interfere at whatever level them deem necessary to maximize the monetary gain of any acquisition. Corporations don’t make expenditures and acquisitions for any other reason.
As a member of Goodreads I’m highly dubious of this purchase. I use Amazon to buy books. I use Goodreads to be social and maintain my library. I don’t want the two mixed. But that’s just my view on the situation.
Below is a link to the statement post on Goodreads: