BOOKS

Goodreads Receives $2 Million, Plans Major Improvements

03/18/2010 05:12 am ET | Updated May 25, 2011

Last week the books-and-social-networking site Goodreads announced it had received $2 million in venture capital, led by start-up-friendly True Ventures. This seems to position Goodreads as a leader in the field: Another book-sharing site, Shelfari, was acquired by Amazon.com in 2008. A third, LibraryThing, which also remains independent, has just 900,000 members to Goodreads' 2.5 million.

We tracked down Goodreads founder Otis Chandler (who, by the way, is not the former publisher of the L.A. Times; he's his grandson). He answered Carolyn Kellogg's questions about what the new moolah will mean for his company.

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