On Monday, Oyster, the UK-based 'Netflix-for-books' announced in a blog post that it was shutting down their existing service but that they were looking forward to "taking on new opportunities to fully realise our vision for e-books.”
Re/Code have subsequently reported that Google have taken on a 'portion of the team' to help them achieve this, including the CEO and his fellow co-founders.
Although Google deny that it has bought Oyster, Re/Code's sources inform them that Oyster's investors will be paid by Google as part of the arrangement, meaning that this is essentially an acquihire, albeit an underwhelming one.
Re/Code's full story can be found here.
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