Amazon Buys Goodreads to Add Tools to Help Users Discover Book
Amazon.com Inc. (AMZN) said it’s acquiring Goodreads, a website that helps users share book recommendations, adding tools to help it sell more wares and get people to spend more time on the Kindle e-reader.
Goodreads has 16 million members and boasts more than 30,000 book clubs, Seattle-based Amazon said in a statement. The acquisition will probably close in the second quarter and the Goodreads headquarters will remain in San Francisco, Amazon said. Acquisition terms were not disclosed.
Chief Executive Officer Jeff Bezos is using aquisitions and partnerships to add content that will help his company boost sales of books and lure users to the Kindle reader, which competes with other devices, including Apple Inc.’s iPad.
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