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Originally Posted by fjtorres
Goodreads has always been intended to be a money-making venture. The fact that they found investors suggests they had a plan to generate income and the fact the investors sold out (at a hefty profit) suggests there is *some* income coming in, with prospects for more. But prospects are not reality.
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Well, that's the way of the world, isn't it? The members assumed they were part of a community, but ended up being the product. It seems there is some controversy about whether Goodreads was actually making or losing money, but it may be besides the point. There must have been pressure to cash out coming from the backers, and the serous profits were probably nowhere to be seen. Otherwise there would have been other suitors, or an IPO. For Amazon this seems more like a synergy buy, kinda like Facebook/Instagram.
Quote:
Originally Posted by fjtorres
In some other alternate universe where Amazon didn't pick up Goodreads, they might be announcing the dismantling right now...
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Or not. There might have been other ways to unwind. The problem I have is that a dominant ebook and device seller is buying an "independent" book review site. It's a bit like the New York Times selling into one of its investigative reporting subjects. To prop it up. You see the point I am trying to make? Google, Yahoo, IBM, Microsoft - I would have been OK with those.
For Amazon books and ebooks may not be the primary business any more. They now sell and resell everything to everyone. An online "walmart", "nordstrom" and "ebay" - all in one. However, there is only one thing they actually make - Kindle. And not being afraid of "a bit of red ink" can mean only one thing: their long-term plan is to keep underselling everyone, until they are the only one left. Borders down, Amazon takes its business. Who is next? B&N. Will be done in a couple of years. I think to start really making money in books and ebooks Amazon needs to kill the remaining bookselling competition off. Goodreads acquisition may be part of this strategy.
Quote:
Originally Posted by fjtorres
As for Wikipedia: if they ever do cash in, I suspect the likeliest candidate would be Yahoo.  |
I hope it's anyone but Yahoo. Yahoo would take a month before filling Wikipedia up with ads and popups, and another half a year before the traffic starts falling off the cliff...