Amazon recently announced they have come to an agreement to acquire social reading site Goodreads. The website is used to help people find their next favorite book based on titles or genres they’ve enjoyed in the past. Terms of the acquisition were not disclosed although the deal is expected to close in the second quarter of 2013 according to a press release from Amazon.

Goodreads was founded in 2007 and has more than 16 million members as of writing that have added over 230 million titles to the site’s database. The site plays host to more than 30,000 book clubs and in just the past 90 days alone, members have added more than four books per second to the “want to read” shelves.

In a blog post on the subject, Goodreads founder Otis Chandler said he was excited about the acquisition for three reasons. First, Goodreads can introduce more readers to their community with the help of Amazon’s extensive reach. Next, the executive said members have been asking them to bring the service to an e-reader for some time. That’s likely to happen now seeing as Amazon plays host to the most popular e-reader in the world, Kindle.

Finally, Chandler said he was happy that Amazon supports them continuing to grow their vision as an independent entity with their own brand and unique culture. Having said that, he reiterates that the Goodreads team is not going away. Chandler concludes that he feels a bit like a college graduate that is nostalgic for the past seven years and incredibly happy to see what the future holds.