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Evernote yet again
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Posted by WSP
Oct 6, 2016 at 02:48 PM
A long, interesting article about Evernote’s decline:
Posted by Hugh
Oct 6, 2016 at 05:38 PM
Interesting! Of course, such a rapid reputational reversal and percentage-wise value decline in a start-up have happened before and will happen again. But perhaps not such changes in absolute terms.
Posted by Stephen Zeoli
Oct 6, 2016 at 10:33 PM
One of my take-aways from this article is that it is stupid to trust the so-called experts who value these tech companies. A billion dollars? For what? A flawed note-taking app.
Steve Z.
Posted by Dr Andus
Oct 6, 2016 at 11:53 PM
Out of 150 million registered users “the number of paying users is currently in the ‘millions,’” and “20,000 businesses use the company’s business version of the product.”
That doesn’t sound like a lot of paying customers to me (they didn’t say “tens of millions”, so even at 9 million it would be like 6% conversion rate?), for a company that is supposed to be worth $1 billion.
The main thing is they could still afford “house cleaning services every two weeks to all employees.” Not bad…
It does seem like they had the wrong priorities. It’s weird they are still after an IPO instead of trying to get the product right, so people who’ve been registered for a decade (like me) would finally bite the bait and pay for premium packages.
Posted by shatteredmindofbob
Oct 7, 2016 at 03:28 AM
10 overseas offices? For a notetaking app? And what have they done? Has Evernote really changed all that much since 2008, a time when a cloud-synced notetaking app was a really big deal?
Apparently they eventually added a “Related Notes” feature, something I’m happy to see in an app that isn’t DevonThink, but that was added with minimal fanfare and considering how little I’ve heard about it (unlike with DevonThink where that’s the main selling point), I’m left assuming it doesn’t even work that well.Side rant: With how obsessed the tech industry currently is with AI and “deep learning,” why is this feature so rare?
And now apparently the plan to save it is to try to get everyone to pay $90 per year? With all the recent news about Evernote, I’m left feeling like I’m buying a ticket for the Titanic.