In a destination like Silicon Valley, California, where there are hundreds of different kinds of digital ventures, few of which survive to market needs.
Evernote, a company founded in 2007, is one of these companies, because of its CEO, Phil Libin, who “risked everything”. Evernote now has more than 30 million users worldwide.
“I remember in 2008, I was about to close the company. I only had money for the next two weeks. Just the night before this decision, I received a call from a Swedish investor who invested just over $500,000 in us. I’m sure that if he had not invested, the company would not exist,” said Libin, in an exclusive interview with Hot Searches.
Evernote with its namesake application, works simple: from your smartphone, computer or tablet , imagine you have a digital notebook where you can write any thought, save a picture or record a voice message. As you do, all the devices you have are automatically synchronized with the information, allowing you to handle it better.
“I think we’re having an organic growth. We try to give the best to our customers without major marketing campaigns . Let the product speak for itself,” explained Libin.
This organic growth referred by Libin appears clearly in the results. In June 2011, the firm that had over 10 million users, now has 30 millio. Of that amount, about 1 million users are paying $5 monthly for the Pro version of their app.
With this amount of capital, says Libin, the next step for the company is to start operations in the market that haunts companies like Facebook, Google and Apple.
“We are handling it very discreet and secure, especially on the issue of data privacy. It is certainly a market we want to be, but never compromising the safety of our users,” said Libin, who founded other firms as CoreStreet or Engine 5.
Just this May 3, Evernote confirmed it had received a round of capital by 70 billion, with firms Meritech Capital and CBC as the leaders in this financial transaction.
Libin hopes to keep the creative sense of your company at least three or four years before coming to make an Initial Public Offering.
“Many companies believe that the IPO is the end of their way and to me, is just one more step. I think with the money we have right now, we can keep doing things for our company without such strong scrutiny and increase our customer base significantly,” said the CEO of Evernote.
Evernote began its journey in 2006 with a capital by nearly 6 million dollars, to constitute formally in September 2007, after having received another sum of 3 billion. It currently has over 70 employees in different parts of the world.