Evernote Has 750,000 Paying Users And Makes $18 Million In Revenue
Evernote seems to be growing and growing, with very little signs of slowdown. In the last few months, Evernote as a company has enjoyed much success. It made the Inc. Magazine’s ‘Company of the Year’ issue, struck several key partnerships with a few top companies and even launched two mobile applications to boot.
The company’s CEO, Phil Libin, took the opportunity at a recent tech summit to put some hardcore details on the success that Evernote has had in the last few months. According to Libin, the company now has 20 million registered users, with a staggering 8 million of those actively using the platform each day.
But where many analysts have had surprise is with Evernote’s numbers in terms of paid users. According to Libin, more than 750,000 of the 20 million registered users are paid subscribers and together they represent a whopping $18 million a year in revnues. Those revenue numbers were also very good until a few months ago when Evernote started to expand and hired new people. These aggressive expansion measures meant that for the first time, profitability of the platform fell.
Libin isn’t worried though, and with the funding that is slated to come in in the next few months, Evernote is expected to onec again rise to profitability.