August 1, 2014

EBooks: All-You-Can Read E-book Startup Oyster Gets $14M in Funding

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From Crain’s New York:

Oyster, the Manhattan based e-reading startup that aims to be a sort of Netflix for books, has raised $14 million in a Series A round that will be used to extend the application to Android devices and hire more employees.

The company, which had raised $3 million in a seed round in 2012, announced the financing on Tuesday. The round was led by Highland Capital Partners and included existing investor Founders Fund, which is led by Peter Thiel.

Oyster Chief Executive Eric Stromberg said he’s looking to add 15 to 20 employees to the current team of 10.

“We’ll be hiring across all functions, from business, marketing, engineering and product, to bringing our service to new platforms,” he said in an interview.

An Android app will become available in 2014, he added.

Read the Complete Article

See Also:  “E-Books in Libraries, 2013 Has Been a Year of Small Victories and Bigger Battles”(November 12, 2013)

See Also: Oyster, a Spotify/Netflix-Like Service for E-Books Launches, Is the Library Community Preparing for These Types of Services? (September 5, 2013)

See Also: Ebooks: Oyster’s “All You Can Read” (Netflix-Like) Service Now Available For iPad & Invite No Longer Required to Register (October 16, 2013)

See Also: All The Ebooks You Can Read: A Netflix-Like Service For Ebooks Named Oyster Gets $3M Investment (October 10, 2012)

share save 171 16 EBooks: All You Can Read E book Startup Oyster Gets $14M in Funding
Gary Price About Gary Price

Gary Price (gprice@mediasourceinc.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. Before launching INFOdocket, Price and Shirl Kennedy were the founders and senior editors at ResourceShelf and DocuTicker for 10 years. From 2006-2009 he was Director of Online Information Services at Ask.com, and is currently a contributing editor at Search Engine Land.