“TechCrunch has learned and confirmed that in the last month, Evernote lost several of its most senior executives, including its CTO Anirban Kundu, CFO Vincent Toolan, CPO Erik Wrobel and head of HR Michelle Wagner beyond the usual attrition of engineers and designers,” Ingrid Lunden reports for TechCrunch. “The departures are coming at a key time: we have also heard that Evernote is fundraising, potentially in a down-round from its most recent (but now several years-old) valuation of $1.2 billion. The company would not comment on the funding but confirmed the staff departures.”
“Evernote was one of the first to gain critical mass for a service that tapped into the idea of using the cloud to store data to create a handy way of recording and organizing notes on a phone, computer or tablet, which you could then access on whatever device you happened to use next,” Lunden reports. “In its heyday, the company consistently ranked as one of the most popular apps in the app store, and the top-ranking productivity app. But its place at the top, and its virtually uncontested hold on the device-agnostic note-taking use case, was not to last.”
“The companies that make operating systems themselves all provide their own note-taking apps (Apple has Notes, Google has Keep, for example),” Lunden reports. “Once holding the number-one ranking, the flagship Evernote app today ranks at 55 in productivity, according to App Annie, and its downloads are not high enough for it to register with a ranking among overall apps… A person who tipped TechCrunch off to the executive departures gave a slightly more blunt and uncharitable spin on the state of affairs. ‘Evernote is in a death spiral,’ the tipster claimed. ‘Paid user growth and active users have been flat for the last six years and their enterprise product offering has not caught on.'”
Read more in the full article here.