Amazon is turning its investment in Shelfari, a book-centric social network, into a full acquisition, reports the Seattle Post-Intelligencer. Financial details haven’t been released, but Shelfari CEO Josh Hug confirmed the acquisition on Shelfari’s blog:
We’ve got some big plans ahead. With more resources and Amazon’s expertise in building a platform where people come to share ideas, there are a lot of new opportunities in the future that will benefit each of you. In the meantime, you’ll continue to have access to the great community and tools that you’ve always known and used on the site.
Amazon earlier this month acquired AbeBooks, which is a minority investor in Shelfari’s chief competitor, LibraryThing. As the Seattle P-I notes, LibraryThing had a few choice words about Shelfari’s business practices in 2007.
Update 8/26/08, 11:25 a.m. Tim Spalding from LibraryThing weighs in on the Shelfari deal. (Via the Reading 2.0 list)