Oyster Raises $14 Million to Expand E-Book Subscription Service

Oyster, an e-book subscription startup, announced Tuesday that it has raised an additional $14 million in funding to continue growing its service.

The financing, which comes from Highland Capital Partners and Founders Fund, brings the New York startup's total capital raised to $17 million. With the additional cash, Oyster plans to more than double its staff of 10 employees over the next year and bring the Oyster app to new platforms beyond iPhone and iPad.

"It's really focused on continuing to hire and expand out the team, and improve the product including expanding to new platforms," Eric Stromberg, cofounder and CEO of Oyster, told Mashable in an interview. "Our goal is for Oyster to be on as many platforms as possible," he added, highlighting Android and a web version as likely followups. Read more...