The Company of the Year is rejecting industry trends, getting customers to pay for something that's free, and reinventing the way we remember. Cody Pickens Evernote has achieved cult status in Tokyo. There are 32 Japanese books on the company. 418 in Share
Evernote is today introducing its first stand-alone product since Peek : a browser extension called Clearly that enables “distraction-free online reading”. Only available as a Chrome add-on for now, Evernote Clearly removes ads, links, navigational elements and whatnot from any block of text you’d like to read on the Web and lets you easily save it to Evernote to read later. If that sounds a lot like the core functionality of the likes of Readability or Instapaper , you’re probably thinking in the right direction. Evernote Clearly works best when you’re on a page with a single article, like this one .
A couple of weeks ago we wrote about Evernote’s new rumored venture round. It was a big one, said one source, putting them in the billion dollar valuation club . Today they’ll officially announce that deal – $50 million in new funding led by Sequoia Capital , with participation from Morgenthaler Ventures . And while they didn’t quite get that billion dollar valuation people were whispering about, the company is still doing quite nicely, thank you. As part of the round, Roelof Botha at Sequoia will join the board of directors. He was previously a board observer.
Evernote, the popular cloud-based note-taking application, has pulled in $50 million in new funding led by Sequoia Capital with participation from Morgenthaler Ventures. The new investment, which comes after a $20 million series C round last year October , will be used for aggressive growth and acquisitions as the company expands its offerings. The new money is another sign of increasing momentum for the popular service, which is now up to 11 million users. We reported that Evernote had just reached the 10 million-member mark a month ago after taking almost 1,000 days to reach the 5 million milestone.
Evernote is as hot as any startup in Silicon Valley, even if they don’t get quite as much press. Last year they raised $20 million from Sequoia Capital, on top of the $25 million they’d already raised. The company is profitable with 70 employees, and has revenue of more than $1 million per month. Profitable enough, in fact, that it’s rumored they haven’t spent a penny of that $20 million venture round. Even so, they’re close to raising a new round, we’ve heard from multiple sources. It’ll likely be in the $50 million range, and Sequoia Capital will once again lead.
May 2009: Evernote hits 1 million registered users December 2009: Evernote hits 2 million registered users May 2010: Evernote hits 3 million registered users August 2010: Evernote hits 4 million registered users November 2010: Evernote hits 5 million registered users Today (6 June 2011): Evernote hits 10 million registered users As you can tell from the numbers copied above, that means Evernote attracted about 4 million users since the beginning of this year, but more importantly, the number of premium (paying) users has more than doubled in the past 5 months (from ~200,000 to ~425,000). The startup owes a lot of that growth to its cross-platformness: it offers native apps for Mac, Windows, Web, iPhone, iPad, Android, BlackBerry, Windows Mobile, HP WebOS — with support for more apparently on the way according to today’s company blog post .
After taking 992 days to reach 5 million members, Evernote said today it has now hit 10 million members just 208 days later. It has also eclipsed 400,000 premium members, putting the company well on its way toward its goal of 1 million paid users. Evernote hit 5 million users on Nov. 10 last year and was up to 6 million users by the first of the year. It’s since grown by 67 percent in a little over five months to 10 million users with the last million signing up in 32 days.
<img src="http://www.wired.com/images_blogs/business/2011/05/IMG_20110503_144229-300x242.jpg" alt="" title="Phil Libin CEO of Evernote" width="300" height="242" class="alignright size-medium wp-image-34539" /> So how do you make money if you are offering a product that has millions of users and only a small percentage pay for it? ‘The easiest way to get a million people to pay for nonscarcity product may be to make 100 million people fall in love with it.’ That’s the so-called Freemium model that many companies have bet on only to find it doesn’t turn into a pile of gold immediately. But the answer, according to Phil Libin, the CEO of Evernote , is that the money will come if you focus on just keeping your millions of users happy, regardless of whether they pay or not.
Evernote is a smart phone app that epitomizes the modern day web service. It is used over a variety of devices, it syncs easily between those devices, it augments your daily life in ways not possible before the mobile web, it can be used equally at work or home. In an interview with Evernote CEO Phil Libin, I discovered that the genesis of Evernote is tied in with the Apple Newton - the innovative, but ultimately ahead of its time, Personal Digital Assistant (PDA) from Apple from the late 80's to 90's. In Part 1 of this interview, Phil Libin explains that link to the Newton and how it ultimately led to the "secondary brain" app called Evernote. In Part 2 (to be published tomorrow) we discuss Evernote's ambitious 20-year plan. Phil Libin isn't the founder of Evernote, but he joined the company before it had a product and has been instrumental in creating the Evernote service we see today.
Twenty two thousand one hundred and thirty new people joined Evernote yesterday. Seriously. 22,130 . That’s a record and it pushed us over the 5,000,000 user mark!
Apparently information capturing and management startup Evernote is seeing quite some early success in Japan only three months after the release of its Japanese-language version. Already, Japan is its second largest market after the United States, Evernote says, representing nearly 15 percent of the service’s daily traffic. Furthermore, over 50,000 books about Evernote in Japanese have already gone over the counter. This popularity is in part due to a number of partnerships with leading Japanese tech companies like Sony, Canon, Fujitsu and more, the company says.
Evernote , the ‘memory enhancement’ service that allows one to capture, organize, and find information across multiple devices and platforms, is gaining new users at a fast clip. As you can tell from the graph above, the Mountain View startup needed 446 days to get its first million users , 222 days to get to its second million , and 134 days to get to its third . But it only took Evernote another 108 days to reach the 4 million users milestone, the company is set to announce later today. Chief executive Phil Libin tells me the large majority of its user base is located in the United States, but not overwhelmingly so: about 57%, followed by 18% who hail from Japan, where the startup now boasts an office . A decent number of users comes from Spain, UK and Germany, and more than 12% of its users are located in the ‘rest of the world’.