Oyster, a subscription-based service for e-books is throwing in the towel. The news broke out on the Oyster blog, where the company said it will be "taking steps to sunset the existing Oyster service over the next several months“.
Oyster was launched two years ago.
However, this doesn’t seem to be the end for the company – the blog post hints it will transform into something more mobile-friendly.
It didn’t go into much detail on what that transformation might be.
“We believe more than ever that the phone will be the primary reading device globally over the next decade—enabling access to knowledge and stories for billions of people worldwide. Looking forward, we feel this is best seized by taking on new opportunities to fully realize our vision for ebooks,” it is said in the blog post.
Oyster was founded in 2012 and launched its service a year later. It offered only a subscription book service for $9.95 a month (£6.43). It even forced Amazon to react, launching a rival subscription service dubbed Kindle Unlimited. It offered a $9.95 per month service for all-you-can-read.
The company then changed its model in April when it announced an expansion into online retail with an e-book store that would sell individual books, with hopes of attracting new customers to its service.
“We look forward to sharing more details soon, but rest assured, your account will continue to operate normally in the meantime,” Oyster concludes. All those who want a refund can send the company an email and it will be handled.