Oyster, an Ebook Subscription Service, Raises $14 Million
Posted on January 16, 2014Oyster, a subscription ebook service, has raised $14 million. The company currently offers access to over 100,000 books from over 500 publishers for $9.95 a month.
Crain's New York reports that the startup is aiming to be like a Netflix for books. Crain's also says Oyster raised $14 million in a Series A round. Oyster plans to expand from ten employees to 25 to 30 with new hires.
Oyster currently offer access to its ebooks through an iOS app. Crain's reports that an Android app is planned for 2014. The key to the company's success will be how many publishers, particularly major publishers, they can get to sign up. The company recently cute a deal with the Perseus Books Group.