Goodreads Ups Funding To $2M

Los Angeles-based Goodreads, an online social networking site focused on book readers, said today that it has raised its Series A funding to $2M. The firm said the round was led by True Ventures. Goodreads was founded by Otis Chandler, and counts MySpace COO Mike Jones as an advisor, along with Ooga Labs' James Currier and Stan Chudnovsky, as well as Bebo's Michael Birch. The firm said the new funding will go to expand the services and features of its social networking site. As part of the funding, Goodreads revealed it now has more than 2.8 million registered users. More information »