Evernote Raises another $10 million in Series B Funding
Its been reported that Evernote the popular note taking service has raised another $10 million in Series B funding. This series B funding comes after already raising $6 million.
Already Evernote has a solid business model with a great number of premium subscribers who already pay for the service. Thus, Evernote has nearly two million users, some paying in the premium model, so why the new funding? Is Evernote looking to purchase any other startups or push their service into default applications on mobile phones?
Andrew Sinkov, VP of Marketing, tells us, “All of that money is going into the product. That’s always been Evernote’s approach. Our product is our marketing, so we’re using the funds to make Evernote better, more functional, and more accessible to new users. We’re also adding new platforms, new language support, and lots of other good stuff.”
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They must have an amazing sales presentation. I don’t think I could even imagine what you would 10 million dollars would buy in product development. I would think it would have to be spent on acquiring other companies.