Oyster, a NYC-based developer of a digital book-reading application, has reportedly closed a $3m first funding.
The round was led by Founders Fund, with participation from unnamed professionals from technology, media, and books sectors.
Founded by Eric Stromberg, Andrew Brown, and Willem Van Lancker, Oyster is building an iPhone app that gives members access to a collection/library of books for a single monthly price. The company’s access-based model (and not centered around transaction) intends to allow readers to explore and enjoy books freely, “more like your corner bookstore than a big box retailer”, according to a post on the blog of Oyster.
The company is currently hiring (http://www.readoyster.com/jobs).