Evernote CEO on Growth and Wearables


growing productivity app

Since it’s $1 billion valuation in May 2012, digital workspace company Evernote has set on a path to tap into mobile and wearable devices.

Evernote, which has raised $325 million in 12 rounds from investors such as T. Rowe Price and Sequoia Capital, will use the funds to focus on growth.

“We are in a period of growing up as a company—kind of in our awkward teenage years maybe,” Phil Libin, the company CEO, said Monday on “Squawk Alley.”

Libin explained that Evernote was trying to cast a wide net in terms of expansion as it offers products for different devices.

“We still want to be in every reasonable device; every device that we think is cool and has a shot of success,” he said.

Android users represented a large source of growth and a slight pick up of the usage of Evernote on wearable devices.

“The wearable market is going to become extremely significant for us,” said Libin.

The recent release of wearables was used by Libin to explain how they could complement other devices such as a phone. An Evernote application on a watch wouldn’t replace the phone’s.

“The Apple Watch is an extension of the phone so the idea is that for anything that takes less than five seconds you can do it on the watch. For anything that takes more than five seconds, you have your iPhone in your pocket to take your phone out to do that.”

Ultimately, the company wants to become an essential tool for professionals.

“We want to be the new definition for what workplace productivity is,” said Libin.

“Things like Microsoft Office were really designed 30 years ago,” he added. “The ideas are old and archaic and just don’t fit with how we want to work. We are the new definition of productivity.”


Nana is a news associate at CNBC that specializes in tech write-ups. She is from Englewood Cliffs, New Jersey.

Reprinted by permission.

Image credit: CC by Intel Free Press

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