The Future of the Ebook

Founders Fund Bets on Oyster, a Subscription-Based eBook Business

The cofounders. (Photo: Courtesy Oyster)

An under-the-radar local startup named Oyster has raised a $3 million seed round, GigaOm reports, led by Founders Fund. Other backers include SV Angel, Founder Collective, Shari Redstone’s Advancit Capital, Chris Dixon, Sam Altman and others. But despite the foodie-friendly name, the company has other designs–namely, to feed you books to read on your iPhone.

As cofounder Eric Stromberg explained to Betabeat via email, “Simply put, we are building the best way to read books on your phone, and we think we accomplish that through the subscription model,” he added. Read More