Amazon.com, Inc (NASDAQ:AMZN) – Kindling the e-book fire with Goodreads, Apple Inc (NASDAQ:AAPL)

Boston, MA, 03/28/2013 – Those who thought that nerds were homebound creatures who never ventured out and got away from their books couldn’t have been more wrong. Welcome to the 21st century. Book lovers are going mobile too. Online books and book clubs have become all the rage and the San Francisco-based book lover’s social network is bursting at its virtual seams with 16 million members. It has 20,000 online book clubs and members can read, opine and popularize books that they have read online.

Moving onto a new chapter

E-books and online reading clubs have proved to be a boon for publishers and authors as the world is becoming increasingly mobile and less able or willing to curl up on a couch with a good book for company. Till now, Good reads had been a neutral player in the market that had biggies like Apple Inc (NASDAQ:AAPL) (current: $442.66, Down by 2.08%) and Amazon.com, Inc (NASDAQ:AMZN) (Current: $266.49, Up by 0.45%) and the general feeling in the market was that Goodreads may one day become a rival to them.

Changing with the times

But the e-reading landscape has changed with the announcement that Amazon will now be buying out Goodreads for an amount that has not yet been disclosed. Amazon has recognized the trend in the e-reading field and had acquired MobiPocket, an e-book software provider from France as well as Book surge the on-demand print company in 2005. They did not stop at these two. In 2008, they acquired Shefari the readers social network and Book Depository, the British bookseller in 2011. Amazon has been and will be using this expanding online community to market its own won books. Goodreads will remain in San Francisco but there are sure to be numerous new applications and tools popping up on Kindle.

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