According to a press release issued Thursday, Amazon will acquire Goodreads; a book recommendation site and social network for readers. 

Goodreads CEO and co-founder Otis Chandler says he's â€ślooking forward to bringing the Goodreads experience to the most popular e-reader in the world, Kindle, and further reinventing what reading can be." 

Goodreads, which currently boasts 16 million members and more than 30,000 book clubs, has been called the "Facebook for readers" as it allows people to discuss and review books, as well as recommend titles to friends.

After the announcement of the acquisition, many Goodreads users expressed concern that their reviews would wind up being shared on Amazon. However, Amazon assured users that their thoughts will be solely their property, much like the reviews written on Amazon.com, and will not be repuposed.

[via TheVerge