$1 billion, came from a group of Internet executives including Marc Benioff of and Hiroshi Mikitani, chief executive of Japanese e-commerceĮvernote was keen to build its business in Japan because, like other tech companies, its programmers were looking to tap the country’s tech-savvy users and make it a testing ground for new services.
That investment, which valued the company at a little over On May 3, the Silicon Valley start-up raised a fresh round of $70 million from a group of investors including Meritech Capital, CBC Capital, and NTT DoCoMo, Japan’s largest mobile network. Roughly 70 percent of its 30 million usersĪre overseas, with 18 percent in Japan, its second-largest market. Since Evernote started its note-taking service in July 2008 with the mantra “Remember everything,” Evernote has grown quickly in the United States and overseas. “We love to work with Facebook but I really don’t want to sell the company.” “The whole point is not to be forced into an I.P.O.”Īs for Facebook buying Evernote? “That’s not going to happen,” Mr. “Our goal is to take those risks now, and once we figure out the best business model, then we’ll go public, we’ll I.P.O.,” he said. You have to take report to the market every quarter and the market will punish you for failure.” “Once you’re a large public company, it’s also very difficult to take big risks, because “This is the time the company can take the most risks, for the next couple of years,” he said. To have more than 100 million users, revenues approaching $100 million a year, and several quarters of profitability, he said.īut Evernote hopes to put off a public listing for several years after that to take advantage of the freedom that comes from not having to answer to the stock market, Mr. “It’s difficult to predict exactly, but our goal is to make the company I.P.O.-ready, to build a company that could go public by the end of 2013,” Mr. On a visit to Tokyo to talk with investors and developers Thursday, Phil Libin, Evernote’s founder and chief executive, said he hoped to make the company “I.P.O.-ready” before the end of next year. Perhaps Evernote, the cloud-based archiving service with 30 million users worldwide, valued earlier this month after an infusion of investor cash at a little over $1 billion. TOKYO – Amid the frenzy over Facebook’s long-awaited initial public offering, a question has emerged: Which Internet darling might go public next?
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