Shari Redstone

While Amazon launched its own lending library on top of its Amazon Prime service, there’s still an opportunity for other competitors to create a Spotify or Netflix for books. That’s the hope of New York City-based Oyster, a new startup which announced today it has raised $3 million led by Peter Thiel’s Founders Fund.

The company is preparing a mobile app that will allow users to get unlimited access to a library of books for one monthly price.