Evernote
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About

Evernote is a suite of software /apps and services that allow users to capture and synchronize their notes, clipped webpages, scanned images, to-dos, and recorded audio between their computers and mobile devices. CEO Phil Libin joined Evernote in 2007 with a vision of creating a powerful memory aid tool that could store a user's notes in the cloud to be accessed across all their devices. Evernote stores and edits a user's notes in their device data storage. With Internet access, users can sync their notes to other devices they are logged into their Evernote account. Evernote is a freemium platform where business services cost $10 per month and Premium users pay either $5 per month or $45 per year. There are about 80 million users of the 8 software products produced by Evernote. The company also opened a small online market place that offers goods from scanners to notebooks, backpacks and even socks and shirts near the end of 20131.

Products

Evernote
Create text, photo, audio, and video notes or clip web pages into Evernote. With an Evernote account, notes will be synced across all of a user's devices. There are also advanced search options for searching text within snapshots and images.

Skitch
Allows users to create annotation, shapes, and sketches in their notes.

Penultimate
Handwriting app for iPad that uses Evernote cloud storage.

Evernote Web Clipper
"Clip" online content in your Evernote account.

Evernote Hello
Store new contacts when meeting new people at meetings and conferences in an easily searchable directory.

Evernote Food
Helps users find new restaurants, document family recipes, and store and gather other information from food experiences.

Evernote Clearly
Cleans blog posts, articles, and other webpages and allows users to print or save them to their Evernote account as a read it later application.

Evernote Peak
A study card tool for iPad.

Compatibility

Mobile Devices Computer Web Browser
Android Windows Chrome
iOS Mac Safari
Windows Opera
Blackberry Firefox
WebOS Internet Explorer (via Evernote Windows)
Pebble Smartwatch

Founding and History

The company was founded in 2005 by Stepan Pachikov. Pachikov had previously worked on a variety of handwriting recognition software which led to his vision of Evernote.2 Pachikov developed the image recognition and processing technologies to for Evernote to work efficiently and current CEO Phil Libin joined in mid-2007 bringing focus to the development of a memory aid and helping the company undergo a major relaunch. Evernote was released on June 24, 2008. By September 2009, the company had over 1.5 million users and had raised about $6.5 million in capital. By June 2011 the company had over 10 million users and had quietly acquired four startups.3 Evernote launched the stable release (5.1.2.2386) on January 29, 2014.

Acquisitions

  • Readable, 2011
  • Notablemeals, 2011
  • MindsMomentum, 2011
  • Skitch, 2011
  • Penultimate, 2012

Business and Revenue

Evernote Premium users make up the bulk of the company's profit at about 61% of total revenue. Evernote Business users are 9% of revenue as of December, 2013. The recent addition, Evernote Market, quickly accumulated about 30% of revenue within four months of its launch in late 20134.

The company has partnerships with hundreds of other applications and Web services to increase the productivity of the note-taking software. Evernote Market partners with companies like 3M, Côte & Ciel, and Moleskine to produce Evernote themed products offered on the small online store5.

Competitors

Strengths Weaknesses
Cross-platform integration (cloud storage) 2013 security breach
Free services Difficult to get paying users
Variety of applications Limited customization (e.g. note fonts and layout)
Not affected by Heartbleed
Successful expansion with online store