The Oyster E-Book subscription service, which launched a Netflix-style e-book service application roughly two years ago, has today announced via its blog that the service will be shutting its doors in early 2016. This announcement marks the end of a service that aimed to revolutionize the way we consume digital books, offering unlimited access to a vast library for a monthly fee.
Background and Achievements
Oyster was founded with the vision of becoming the “Netflix for books,” providing users with an extensive library of e-books for a flat monthly fee. The service quickly gained traction, attracting a dedicated user base and securing $17 million in funding according to CrunchBase records. The platform boasted a user-friendly interface and a diverse selection of titles, making it a popular choice among avid readers.
Despite its initial success, Oyster faced stiff competition from other e-book services, including Amazon’s Kindle Unlimited and Scribd. These competitors, backed by larger companies with more resources, made it challenging for Oyster to maintain its market share. Nevertheless, Oyster’s innovative approach and commitment to providing a quality reading experience earned it a loyal following.
Closure Announcement and Future Plans
It is being reported by the Re/code website that the co-founders of Oyster—Eric Stromberg, Andrew Brown, and Willem Van Lancker—have been hired by Google. However, these reports have not been confirmed by either party. The potential move to Google suggests that the co-founders’ expertise in digital content and subscription services could be leveraged in new and exciting ways within the tech giant’s ecosystem.
The start-up raised $17 million in funding according to CrunchBase records, and today the company published a statement via their blog:
As an Oyster reader, rest assured, nothing is changing regarding your account today. The existing Oyster service will be sunset in early 2016. If you’ve purchased a book or are an Oyster Unlimited subscriber, you will receive an email regarding your account in the next few weeks. You will be able to access and read purchased books indefinitely. If you would like to request a refund at any point, please email refunds@oysterbooks.com.
This statement provides some reassurance to current users, emphasizing that they will still have access to their purchased books indefinitely. Additionally, the company has made provisions for refunds, ensuring that subscribers are not left out of pocket as the service winds down.
For more information on the Oyster closure, jump over to the official website for more details.
Impact on the E-Book Market
The closure of Oyster highlights the challenges faced by subscription-based e-book services in a competitive market. While the concept of unlimited access to a vast library of books is appealing, sustaining such a model requires significant resources and a large user base. Oyster’s struggle to compete with giants like Amazon underscores the difficulties smaller companies face in this space.
However, the legacy of Oyster may live on through its co-founders’ future endeavors. Their move to Google could lead to new innovations in digital content and subscription services, potentially influencing the e-book market in unforeseen ways. As the digital landscape continues to evolve, the lessons learned from Oyster’s journey will undoubtedly inform the strategies of future start-ups in the industry.
Source: Tech Crunch : Re/code
Latest Geeky Gadgets Deals
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
