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Evernote Slashes 15 Percent of Its Workforce (techcrunch.com)
Evernote, one of the most popular productivity apps on the market, is struggling to stay on top of the charts. TechCrunch, after reporting two weeks that the company "lost several of its most senior executives," is reporting that Evernote's CEO Chris O'Neill on Tuesday laid off 54 people -- roughly 15 percent of the company's workforce. O'Neill said it is now focusing its efforts around specific functions, including product development and engineering. From the report: We've just been in touch with Evernote. It pointed us to a newly posted piece by O'Neill in which he outlines the company's strategy going forward, which includes to "operate with a more focused leadership team," to "operate more efficiently," and to "double down on product development -- both quality and velocity." As for its funding situation, an Evernote representative insists that things are far from dire. The company is not fundraising, says this person; further, we're told Evernote has $30 million on its balance sheet and will exit the year without burning cash. This comes after "a person who tipped TechCrunch off to the executive departments two weeks ago characterized Evernote as 'in a death spiral,' saying that user growth and active users have been flat for the last six years and that the company's enterprise product offering hasn't caught on."
It may be time to resurrect fuckedcompany.com
Apparently they missed "startups 101" - the goal is to sell your company to a bagholder before the exponential growth dies off. Failure to find a bagholder is also known as "failure" in Silicon Valley.
Exactly. I was going to say much of the same thing, but you said it really well.
When it was still very new, I used EverNote quite a bit. Every new feature made the application more difficult and more intrusive. Not what I wanted.
I'm no expert in their business, and am even more casual than an armchair quarterback for it, but it seems to me this kind of venture would almost have to be an acquisition target... early. There are simply to many other entrenched organizations - in business, in dev, in engineering, in virtually anything that has the money to pay for it - along with email (for the consumer) - to make a new vertical. I've seen these other verticals introduce new, integrated features that make EverNote and applications like it pretty irrelevant.
I stopped using EverNote when it became more difficult and other application stacks I was already using served its purpose.
Bye.