

With 750K Paid Users, Evernote Brings In $18 Million A Year - cwan
http://techcrunch.com/2011/12/08/with-750k-paid-users-evernote-brings-in-18-million-a-year/

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pdx
They appear to be talking revenue, not profit, so I'm confused.

    
    
        Trying to do the math...
        750K x $60 = $45M, not $18M
        750K x $45 = $33M, not $18M
        750K x $5 = $3.7M, not $18M
    

So, they're not using monthly income data and they're not using annual either,
apparently.

I guess we can assume that their average account life is 18/45 = 4.8 months?

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milesskorpen
It is possible that they are making $18M this year and just hit 750k users. In
which case, growth is skewing things. So if they had 500k users a year ago,
many of the new users might still be on monthly plans, without bring the
account life down that low.

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carldall
I've been using Evernote since 2007 or 2008, whenever it appeared (granted,
with a non usage delay in between), and it is a great idea well executed.
What's interesting is that many people forget that Evernote is also a powerful
cloud plattform with a solid API. The ability to save all your notes in a
standardized way in the Cloud and then install individual apps for filtering,
processing, or managing them has huge potential.

I think we've only seen the beginning of where they'll go. In comparison to
Dropbox mostly because Evernote as a whole is a bit more difficult to grasp.

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freejack
I'm a huge fan.

The headcount projection caused me to pause a bit. Tripling staffing to almost
400 people seems like a huge jump. I wonder what else they've got going on -
it feels like a big number for it all just to be allocated solely against
Evernote proper.

~~~
Djehngo
This Article: [http://www.inc.com/magazine/201112/evernote-2011-company-
of-...](http://www.inc.com/magazine/201112/evernote-2011-company-of-the-
year.html)

Has slightly more depth and seems to suggest that they are launching small
semi-independent "studios" to work on other memory-related problems.

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goodweeds
I'm kind of blown away that they needed $95m in VC to create a $18m/year
company. They probably would have done better by investing in high-growth
mutual funds.

~~~
meterplech
Or they pulled in 18 million over the past year but their monthly revenue is
now higher, and thus on a growth trajectory to pull in much more than 18
million next year.

This also doesn't include advertising revenue to their 20 million user base.

And it's a startup... so you know, the whole idea is that it might make more
in the future. I know it is a lot of money, but they are supporting 20 million
users & 8 million active.

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AznHisoka
That's pretty huge. But how can they keep up the growth? I can't see the
growth happening if they just target consumers. What can they do on the
enterprise side?

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billybob
What makes you think they've exhausted growth potential with consumers? What
makes you think this isn't suitable for companies?

I don't really see your point.

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AznHisoka
I don't think this isn't suitable at all. I'm sorry if my questions seemed
condescending but they were just questions. I'm interested in Evernote's plans
for the future. That's all. Geez

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ggwicz
Anybody else confused as to why "tripling his employee count" is a goal of
Libin's? Not being snarky, just don't get why you'd want more chefs in the
kitchen (unless they're building a few new apps or something)

~~~
freejack
Well, yeah - that's kind of what I was trying to point out earlier - I just
was just afraid of coming across as snarky :)

I chalked it up to literary license on behalf of the writer - it doesn't seem
like a rational business goal on its face.

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miles_matthias
I used to be a paid user but then quit after their iPhone app crashed each
time I wrote a note. They took forever to update to iOS5 and that seemed to
cause their issues. In that period of time I found Orchestra and haven't seen
a need for Evernote for me personally.

~~~
barranger
Note that this isn't directed at you personally, but rather towards the
instant gratification culture at large:

I'm sorry, but "They took forever to update to iOS5"????

A quick google search shows that iOS5 was released on October 11th 2011. That
makes it less than two months ago. In what world/dimension is 58 days
"forever"?

Don't get me wrong, if you paying for a service, it should work, full stop,
but complaining and saying that two months is forever trivializes your (valid)
complaints.

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smackfu
The expectation in the iOS world is that developers work on updating their
apps during the developer beta, and submit their updated apps shortly before
release when Apple says to (October 5th in this case), and then Apple releases
them to the store on Day 1.

In that context, 58 days is 57 days more than a lot of the competition.

Given THAT, it sure does look like Evernote released iOS 5 updates on Oct 4th,
so this whole point is moot:

[http://blog.evernote.com/2011/10/04/evernote-for-ios-
update-...](http://blog.evernote.com/2011/10/04/evernote-for-ios-update-
improved-text-handling-checkboxes-ios-5-support-and-more/)

~~~
miles_matthias
You're right, they did try. But unfortunately, it didn't work for me. I
expected more from the "Number One Company in 2011"

