Goodreads is a privately run "social cataloging" website started in December 2006 by Otis Chandler, a software engineer and entrepreneur. The website permits individuals to sign up and register books to create their library catalogs and reading lists. It also allows users to create their own groups of book suggestions and discussions. In December 2007, the site had over 650,000 members and over 10,000,000 books added. By January 2010, Goodreads had reached 2,900,000 members and 78,000,000 books added.
The first year of the company was run without any formal funding. In December 2007, Goodreads received their first round from angel investors, estimated at $750,000. The company raised additional funding from True Ventures in 2009.
In October 2010, the company opened its API enabling developers to access to its ratings and titles.
In January 2011, a barcode scanner was added to the Goodreads iPhone app.
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