Reuters: Technology News: Amazon plans to buy social network for book fans

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Amazon plans to buy social network for book fans Mar 28th 2013, 21:19 Tweet Share this Email Print Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Aerospace & Defense » A box from Amazon.com is pictured on the porch of a house in Golden, Colorado July 23, 2008. Credit: Reuters/Rick Wilking Thu Mar 28, 2013 5:19pm EDT (Reuters) - Amazon.com Inc (AMZN.O) said on Thursday it plans to acquire the book recommendation website, Goodreads. In buying Goodreads, Amazon gets a community of bibliophiles primed to buy and recommend books - one of its key areas of business. "Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world," Russ Grandinetti, Amazon vice president, Kindle Content, said in a release. Based in San Francisco, Goodreads is a social network site that lets bookworms catalog and review books. Co-founded by Otis Chandler, whose family once published the Los Angeles Times, Goodreads has more than 16 million members, who have generated more than 23 million reviews. "We're looking forward to inspiring greater literary discussion and helping more readers find great books, whether they read in print or digitally," Chandler, who also serves as CEO of Goodreads, said in a statement. Terms of the deal, expected to close in the second quarter, were not disclosed. (Reporting by Jennifer Saba in New York; Editing by Jan Paschal) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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