A social networking website.
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. As of December 2007 the site has over 650,000 members and over 10,000,000 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 believed to be around $750,000.