Amazon.com (AMZN) Just Brought in 16M New Book Fans (AAPL) (GOOG)
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Price: $325.89 --0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
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Amazon.com (Nasdaq: AMZN) might sell a few more Kindles now.
According to a release after markets closed Thursday, Amazon is going to acquire Goodreads. The release states that Goodreads is "a leading site for readers and book recommendations that helps people find and share books they love." Though financial terms weren't disclosed on the deal, Goodreads is said to have 16 million members and 30,000 book clubs.
The move by Amazon comes as Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG) are also looking to get in the books game. Google recently said that its goal is to digitize all 160 million books ever published by the end of the decade. Apple, on the other hand, has been pushing its educational initiative via its iPad and iPad mini tablet lineup.
For Amazon, its book user base will grow markedly. No word on how the integration into Amazon.com will work, but more sales and/or lending might happen if more and more chatter about great novels is raised. With Amazon's Lending Library, the service is currently only available on Kindle devices, including e-readers and the Fire series. No app for Android or iOS to access the Lending Library has been released and it isn't clear if Amazon intends to release one anyway.
Shares of Amazon are flat in after-hours trading.
According to a release after markets closed Thursday, Amazon is going to acquire Goodreads. The release states that Goodreads is "a leading site for readers and book recommendations that helps people find and share books they love." Though financial terms weren't disclosed on the deal, Goodreads is said to have 16 million members and 30,000 book clubs.
The move by Amazon comes as Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG) are also looking to get in the books game. Google recently said that its goal is to digitize all 160 million books ever published by the end of the decade. Apple, on the other hand, has been pushing its educational initiative via its iPad and iPad mini tablet lineup.
For Amazon, its book user base will grow markedly. No word on how the integration into Amazon.com will work, but more sales and/or lending might happen if more and more chatter about great novels is raised. With Amazon's Lending Library, the service is currently only available on Kindle devices, including e-readers and the Fire series. No app for Android or iOS to access the Lending Library has been released and it isn't clear if Amazon intends to release one anyway.
Shares of Amazon are flat in after-hours trading.
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