Amazon announced on Thursday its intentions to acquire Goodreads, a popular socialnetwork in the literary world. Neither Amazon nor Goodreads disclosed the terms of the agreement, so it’s unclear what the selling price was, although Goodreads will keep its headquarters in San Francisco. The social network has upwards of 16 million users who have created more than 30,000 book clubs.

“Amazon and Goodreads share a passion for reinventing reading,” Amazon Vice President of Kindle Content Russ Grandinetti said. “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.”

We assume that last line means that Amazon will embed an easy way to interact with fellow Goodreads members into its Kindle software.

[Source: TechnoBuffalo]