Abebooks owns a minority stake in LibraryThing. This means that, after regulatory approval and finalization, Amazon will become, through Abebooks, a minority investor in LibraryThing.
I congratulate Amazon on a shrewd acquisition. Abebooks is a great company, full of wonderful people. They have accomplished great things (link). I have no inside info, but I can foresee Amazon’s extraordinary technical infrastructure giving Abe a big lift.
Here’s the scoop:
- LibraryThing did not have any knowledge of or influence over this deal.
- The majority of LibraryThing is in my hands. Abebooks holds a minority of the shares, with certain notable but limited rights. This situation does not change when Amazon acquires Abebooks.
- Amazon will not get access to your data. The LibraryThing/Abebooks terms are specific. Abe gets only anonymized and aggregate data, like recommendations, and they can only use it on Abebooks sites (eg., Abebooks.com, Abebooks.de). Nothing has changed here.
- Abebooks customers won’t see much a difference. The name will survive and the Abebooks.com site will continue. Both employees and management will remain in Canada.
- LibraryThing remains LibraryThing. We will continue to uphold and advance LibraryThing values, including open data, strict privacy rules and support for libraries and independent bookstores.
As always, I want your feedback on how to make LibraryThing the best book site on the web. I’ve started a Talk post to talk about all of this, or you can comment here.
Stay tuned for two more blog posts, both major. We have rushed two projects forward that demonstrate LibraryThing’s commitment to open data and support for libraries and other book lovers.
- Check out the blog post of Boris Wertz, long-time COO of Abe and co-founder of JustBooks.
- Local Victoria TV has a story with a good photo of Hannes, the CEO.
- It’s funny to watch the news fly by. 90% of the news stories rehash the press release without pointing to it, as if they are engaging in reporting. Odd