Amazon to Acquire Goodreads

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Goodreads is a book recommendation website and is now the subject of acquisition plans by online retail giant Amazon.com. With this acquisition, Amazon is also getting a community of booklovers and bibliophiles that have the interest in purchasing books.

Books is one of the key market areas of Amazon. According to Russ Grandinetti, Amazon VP for Kindle Content, "Goodreads has helped change how we discover and discuss books and with Kindle, Amazon has helped expand reading around the world."

Goodreads is essentially a social networking site that allows book readers and lovers to catalog and review books online. It has a membership of sixteen million and has been able to generate 23 million reviews online.

For its part, Goodreads co-founder and current CEO said in a statement, "We're looking forward to inspiring greater literary discussion and helping more readers find great booksm whether they read in print or digitally."

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