Amazon.com Inc. (AMZN) Gathers Up Goodreads Social Network

Amazon.com Inc. (NASDAQ:AMZN) is not just the world’s biggest e-commerce marketplace; it is developing a reputation as the best online bookstore and book-reading experience with its library of books, e-books and its fleet of Kindles to make book reading more convenient for many people who are on the go. Goodreads is a social network that was built by and for book readers as an opportunity to recommend or not recommend books among friends and neighbors. After all, unless a book is written by a mainstream celebrity or an established nae (like Dan Brown, Tom Clancy or Stephen King), many books get their readership by word-of-mouth advertising. If you read a good book recently, don’t you tend to mention it to friends or colleagues?

Amazon.com, Inc. (NASDAQ:AMZN)Amazon.com Inc. (NASDAQ:AMZN) took a step toward more than just reviews of books and e-books purchased at its marketplace by announcing a deal to purchase Goodreads for an amount that is of yet undisclosed. The expectation is that Goodreads will open up new sales possibilities for Amazon, as members of the social network share  their best recommendations with others, those others might then go to Amazon to buy those books. In converse, Amazon stated it intends to make Goodreads an opportunity for authors to locate book readers who may not know about them – such as, locating readers of books from the same genre as the author.

“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.com Inc. (NASDAQ:AMZN). ”In addition, both Amazon and Goodreads have helped thousands of authors reach a wider audience and make a better living at their craft.”

Amazon.com Inc. (AMZN)What do you think about this acquisition by Amazon.com Inc. (NASDAQ:AMZN)? How do you see it helping its overall business model? Let us know your thoughts in the comments section below.

DISCLOSURE: I own no positions in any stock mentioned.

Please see these related AMZN articles:

The Coming Revlution in Digital Content Reselling

Is Amazon Now Getting into Smartphones?

eBay is Ready to Challenge Amazon

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!