What Amazon Really Paid for Goodreads
Bloomberg Businessweek just published a very strange article trying to guess how much Amazon paid for Goodreads, a social network where people share what books they're reading. In essence, the writer, Kyle Stock, tried to find comparables in recent IPOs and private financings to arrive at a value per user for social websites, comparing Goodreads to Twitter, LinkedIn, Pinterest, and Instagram. He came up with a figure of $880 million, which he rounded up to $1 billion. Three problems with that: Read next 'American Idol' winner Just Sam is back singing in New York City subways just 3 years after triumphing on the show: 'I was super embarrassed'
Screenshot Bloomberg Businessweek just published a very strange article trying to guess how much Amazon paid for Goodreads, a social network where people share what books they're reading. In essence, the writer, Kyle Stock, tried to find comparables in recent IPOs and private financings to arrive at a value per user for social websites, comparing Goodreads to Twitter, LinkedIn, Pinterest, and Instagram. He came up with a figure of $880 million, which he rounded up to $1 billion. Three problems with that: Amazon did not disclose a price for the acquisition. Had it been as high as $880…
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