Fifteen percent of the company’s workforce was laid off in September 2018, a step O’Neill justified as necessary to correct for the company’s recent overexpansion and “inefficiency.” And in October of that year, Evernote laid off 18% of its staff and closed three of its 10 global offices.Īugust 2018 saw an exodus of top execs, including Evernote’s chief technical officer, chief financial officer, chief product officer and head of HR. Meanwhile, Libin pursued partnerships with physical goods brands like Moleskine and Pfeiffer, launching Evernote-branded desk accessory lines that failed to catch on in a major way.įormer Google Glass executive Chris O’Neill replaced Libin in July 2015. In 2013, Evernote was reportedly valued at nearly a billion dollars. But then trouble set in.Įvernote’s chief operating officer, appointed in June 2015, left after just a few months.
Its web service reached 11 million users within the first three years and Evernote launched a business in China, Yinxiang Biji, as the startup sought to rapidly expand. Between 20, Evernote raised hundreds of millions of dollars in venture capital from investors including Sequoia, Meritech Capital and Japanese media company Nikkei. This proved to be a winning strategy - at least at first. “Teaming up with Bending Spoons will the delivery of improvements across our teams, professional, personal and free offerings.”įor Evernote, the acquisition - the terms of which weren’t made public - marks the end of a roller coaster of a journey.įounded in 2000 by Russian-American entrepreneur Stepan Pachikov, Redwood City-based Evernote made handwriting recognition software for Windows and the eponymous note-taking, web-clipping app Evernote, which stored notes on an “infinite roll of paper.” Under CEO Phil Libin, who joined the company in 2007, Evernote shifted its focus to the web, smartphones and Mac, starting with Evernote 3.0 in 2008. “For Evernote, this decision is the next strategic step forward on our journey to be an extension of your brain,” Small wrote. In a post on Evernote’s newsroom, Evernote CEO Ian Small said that Bending Spoons will take ownership of Evernote in a transaction expected to close in early 2023. Evernote, the note-taking and task management app founded over 20 years ago, has been acquired by Milan-based app developer Bending Spoons.
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