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Business Insider: ‘Evernote Is in Deep Trouble’

Eugene Kim, writing for Business Insider:

Evernote has laid off roughly 18% of its workforce in the past nine months, and said it will shut down three of its 10 global offices last week. Earlier this year, it replaced its long-time CEO Phil Libin with former Google exec Chris O’Neill.

“It’s going to be a tough road ahead,” one source familiar with the matter told us. “They want to go public, and, to do that, the focus on revenue now has to be a ruthless prioritization on things that make money.”

Depending on where you stand, Evernote is either a sinking ship or a maturing company going through a normal transition cycle. But most people we spoke to seem to agree that the company has failed to take advantage of its red-hot growth and make enough money from much of its huge user base — and is starting to show early signs of being an ailing unicorn.

Evernote has some very cool features — most impressive to me is that when you attach a photo to a note, they do OCR on any signage or text in the image so you can search for it. But the interface has always seemed so convoluted, I could never get into it. It looks like the result of a company that is focused on adding features, not focused on creating something well-designed.

Monday, 5 October 2015