Evernote Wants to Give You An Extra Brain
Information overload is a fact of modern life, and you can curse technology — or you can see if there's an app for that.
"We just want to give everyone an external brain — for everyone who's not fully happy with their biological brain," CEO of Evernote Phil Libin told CNBC's Street Signs earlier this week. "We think we can do better."
The app is a note-taking and archiving system, and notes can be anything from photographs to web pages to text memos to scrawled digital notes, and they can be organized, annotated and searched.
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The company follows a "freemium" model, Libin said, where the app most people will start with is free, and more heavy-duty features — bigger uploads, networking capability, priority support, etc. — are available for $5 a month.
A new Evernote Business version, launched three months ago, is $10 a month per user and takes on additional tasks such as making a "business library" available to a company team.
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On Sunday, Evernote said hackers were able to breach its computer network, making it the latest in a series of technology companies forced to reset users' passwords to guard against the loss of information.
"In our security investigation, we have found no evidence that any of the content you store in Evernote was accessed, changed or lost," the company said on its website. "We also have no evidence that any payment information for Evernote Premium or Evernote Business customers was accessed."
Libin founded and sold two Internet companies before starting Evernote, but said this time's for keeps. "We want to build a 100-year startup. I've sold two companies ... the third time around let's build something for ourselves — only the products we want to use and build the company we want to keep."
He expects the potential to go public is possible in a couple years' time. "It's not a goal, just a step in the process we need to carefully manage."
After a rocky start in 2008 — "the worst possible time" — and and inept spiel — "the world's worst VC pitch" — the company eventually secured the backing of Sequoia Capital, CBC Capital, Meritech Capital, Morgenthaler Venture and DOCOMO Capital.
The key to persuading backers, and Evercore's 50 million users, Libin found, wasn't in the pitch, but in using the app. "They just fell in love with the product."
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