8 years ago
7
The inside story of how $1 billion Evernote went from Silicon Valley darling to deep trouble
In 2012, the note-taking app Evernote became one of the first “Unicorn” startups, joining the exclusive club for private tech companies worth $1 billion or more. That year, Evernote passed 30 million registered users, brought its total funding to $270 million, and seemed like a sure-fire candidate to hit the public market in the coming years. Fast forward three years, and the tables have turned.
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I miss springpad... Oh well, at least Google keep works well enough.
I expect to see a lot more stories like this in the coming months. Silicon Valley has a lot of "tech darlings" that hemorrhage cash and barely offer any solutions to obtain revenue. It's only now that investors are starting to ask where their money is going.
Honestly I'm impressed the industry has maintained this delusion for so long...
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