Friday, March 29, 2013
Report: Goodreads Exit Worth Around $150M-$200M
It looks like the sale of book review and community Goodreads was worth between $150M to $200M, according to a report form AllThingsD Friday, potentially making the acquisition one of the better returns on capital from a Southern California technology startup in recent years. Goodreads--while now located in San Francisco--was started and ran out of Santa Monica for years, and had the backing of such local angels as Mike Jones (now at Science Inc.). AllthingsD cited "sources" for the information, and said that an earlier estimate that Amazon.com would pay approximately $1 billion (with a B) for Goodreads as "overly simple". According to our tracking, GoodReads had only raised $2 million in angel funding, from True Ventures, Michael Jones, Ooga Labs' James Currier and Stan Chudnovsky, as well as Bebo's Michael Birch.