struggled with the “freemium” concept,
Libin had faith that a small percentage
of consumers would be willing to shell
out for more memory and functionality.
His gamble paid off: About 1.5 million of
Evernote’s 35 million users pay $45 a year
for premium service.
This month the company launches
Evernote Business for small and midsize
companies. The app allows groups of
employees to share their words, images
and presentations in an accountmanaged
by a company coordinator. Another new
product helps students and educators
turn course materials into study ques-
tions. Evernote is also refining features
that automatically call up Web clippings
and notes that a usermight like. “Wewant
the experience of Evernote to feel like it’s
completing your thoughts,” Libin says.
Since those rocky early days, investors
haveflocked to the company (among them
Sequoia Capital, which has pumped in
about $80million). Libin has turned down
many offers to sell Evernote, which he
plans to take public in the not-too-distant
future. But he maintains a belief that his
company’s true worth transcends money.
“
I cannot imagine a possession that in
20
years will be more valuable than my
Evernote account,” he says.
CRISTINA ROUVALIS,
a reporter living
in Pittsburgh ... forgot what she was
going to say.
DECEMBER 2012
•
HEMISPHERESMAGAZINE.COM
