I know several people who like to annotate ebooks they're reading, and I've heard a few comment upon the absence of these features in the Oyster app so I'm sure they're going to be pleased by the new update.
Or rather the iPhone and iPad using note-takers will be pleased; Oyster is still limited to iOS only. While they are looking to hire web and Android developers to create reading apps for web browsers and smartphones, there's no definite timeline for the release of the new apps.
Oyster launched their "Netflix for ebooks" service in early September 2013, and they currently offer a catalog of over 100,000 titles from major and minor publishers. Subscribers can read as many titles as they like for a low price of $10 a month. There's no word on how many people have signed up, but this startup has been getting a lot of buzz both in the press and the startup sphere. Last week Oyster raised $14 million in a new capital funding round.
You can find the Oyster app in iTunes.