A new e-book subscription service called Oyster is great news for bookworms who devour literature the same way the rest of us go through a Breaking Bad box set. With a whopping $14 million in new financing, the startup is aiming to expand its already impressive library of titles.
The e-book service launched with a library of over 100,000 books available to iPhone users for a fee of $10 a month. Oyster did only moderately well for the first month of its existence, before the company launched an iPad app in September, which succeeded in doubling its user base almost overnight, effectively putting the e-book app on the map.
Speaking to technology website VentureBeat, Oyster CEO Eric Stromberg said that he truly believed the company’s Netflix-like all-access model for e-books was here to stay. Aside from being beneficial for readers, Stromberg confirmed that the model benefitted publishers too, since they get paid every time a book is read. Currently Oyster has over 800 publishers signed up to the service, including big names like HarperCollins and Houghton Mifflin.
The future for Oyster is to be able to offer the e-book service on as many different devices as possible, starting with an Android release coming within the next year.