A few days back I interviewed Phil Libin, CEO of Evernote. We talked about Evernote’s roadmap and vision forward. Phil shared his thoughts on the competition and the progression of the app to a platform with additional, related services.
- Funding: Evernote received $20 million in October 2010 in first round of funding and another $50 million in July this year.
- Profitability: Evernote achieved gross-margin profitability very early on, about two years ago. Six months back, the company got even on cash flow. However, Phil shared that they will probably go in red again in cash as they hire more people and look forward to buy few companies. The latter made sense soon after the interview with the Skitch acquisition.
- Users: Evernote announced that they’ve crossed the 10 million users mark in June 2011. During the conversation, Phil specified that they are past 12.5 million now and are growing by about a million users each month!
- Competition: Phil mentioned that Evernote does not look at the competition in users of similar products like Microsoft OneNote, but the pen-and-paper users. While 10 million users use Evernote, there are another 7 billion who aren’t using the same. Since Evernote follows a freemium model, other products cannot beat Evernote on price, but only on quality and features.
Source: I Love Windows Phone