Users can sign up in just a few simple steps and immediately begin entering reviews. Books are rated on a five-star system, ranging from one star for “didn't like it” to five for “it was amazing.” Members can discuss what they loved or didn't love about books they've read, see right away what the consensus was among fellow reviewers and even comment on one another's reviews. Moreover, they can catalogue their collections on virtual bookshelves that can be customized to reflect their own personalities. Default shelf names are “Read,” “To-Read” and “Currently-Reading,” but it only takes a moment to add new shelves, and users can have fun with their category designations.
The business model for Goodreads and its siblings is based on racking up referral fees from online book stores like Amazon.com and Barnes & Noble. As the websites grow, they’ll also become highly valuable tools for the publishing industry, which could lead to additional sources of revenue. Since reading books isn’t limited to English-speakers, this is definitely a concept to copy to other countries or languages that don’t yet have their own (popular) online social network for readers. For more inspiration, check out Shelfari, Bookjetty and BuchPfade, to name a few.
Website: www.goodreads.com
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