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.
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