Oyster Raises $14 Million to Expand Library

With Netflix soaring, investors are betting that a start-up based on the same business model - but for e-books - will succeed as well.

Oyster, which gives customers access to more than 100,000 books for $10 a month, has raised $14 million in a new round of financing. The new investment was led by Highland Capital Partners and included additional capital from an existing investor, Peter Thiel's Founders Fund.

That raises the company's total fund-raising to $17 million.