Amazon to buy Goodreads for undisclosed sum

NEW YORK (AP) - Amazon.com Inc., the world's biggest online retailer that got its start in bookselling, has agreed to buy book recommendations site Goodreads.

Financial terms of the deal were not disclosed. Amazon said Thursday that it "shares a passion for reinventing reading," with Goodreads.

"Goodreads has helped change how we discover and discuss books and, with Kindle, Amazon has helped expand reading around the world," said Russ Grandinetti, vice president of Kindle content for Amazon. "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."

In addition to recommending books to read based on other books people have liked, Goodreads also serves as a social network for bookworms. It has 16 million members and was founded in 2007.

The deal is expected to close in the second quarter. Seattle-based Amazon.com Inc. says Goodreads headquarters will remain in San Francisco.

"Goodreads is a place for all readers no matter what books they read or how they read them, and we expect to keep it that way," said Amazon spokeswoman Kinley Pearsall in a statement, citing Zappos and the movie information website IMDb as examples. Amazon owns both but has kept them as stand-alone businesses.

Shares of Seattle-based Amazon closed up $1.19 at $266.49.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Threat: 10-30-14
    Extra police are on duty & students stay home over an Auburn high school shooting threat

  • Hot Seats
    With Seahawks home games 'sold out' the ticket price of this seat doesn't seem so bad

  • Winter Worries
    The massive Oso landslide poses new flood threat as winter approaches
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Listen to the show
Hear GeekWire on KIRO Radio
Join Todd Bishop and John Cook weekends on KIRO Radio to talk Seattle technology.

Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.