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Amazon To Acquire Goodreads

Amazon announced today that they will acquire Goodreads, the social network for readers.

UPDATE: Goodreads posted this message about the implications of the purchase, especially for device owners:

It’s important to be clear that Goodreads and the awesome team behind it are not going away. Goodreads will continue to be the wonderful community that we all cherish. We plan to continue offering you everything that you love about the site—the ability to track what you read, discover great books, discuss and share them with fellow book lovers, and connect directly with your favorite authors—and your reviews and ratings will remain here on Goodreads. And it’s incredibly important to us that we remain a home for all types of readers, no matter if you read on paper, audio, digitally, from scrolls, or even stone tablets. For all of you Kindle readers, there’s obviously an extra bonus in this announcement. You’ve asked us for a long time to be able to integrate your Kindle and Goodreads experiences. Making that option a reality is one of our top priorities.

The online retailer did not reveal the terms of the deal and expects to finalize the deal by the second quarter of 2013.

Here’s more from Russ Grandinetti, the VP of Kindle Content: “Amazon and Goodreads share a passion for reinventing reading … Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world. In addition, both Amazon and Goodreads have helped thousands of authors reach a wider audience and make a better living at their craft. Together we intend to build many new ways to delight readers and authors alike.”

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