There’s a feature on Library Thing this week in Business 2.0

LibraryThing, a social network based not on who you know but on what you’ve read. It’s already producing a nice revenue stream for Spalding from the sale of thousands of premium memberships at $10 to $25 apiece.

Spalding’s creation is quietly achieving cult status among bookworms around the world, creating a network with one of the highest IQs in cyberspace. Less than two years after it opened its doors to the public, LibraryThing’s users have listed, tagged, or recommended more than 10 million works–a collection that, were it not virtual, would be the third-largest private library in the United States, behind those of Harvard and Yale.

Source: With LibraryThing, a book club for the digital age  – April 1, 2007