In 2010 Phil Libin, then CEO of Evernote, said theirs was 2%. Now, the oft-cited conversion rate from free to premium user is typically less than 5%. Today it claims to have 100 million users. By 2010, it had a total of 3 million users. Evernote’s pricing change probably worked last time, and will probably work this time.Įvernote’s greatest asset is its very large user base. What Evernote is doing this time with the packaging change: reduce the value of their free Basic edition product.Įffectively that means they are raising the price of a user not upgrading to the paid product. However, a certain growth profile is required if Evernote was to go public (or be acquired) and have a decent exit.Īnd one of the best ways to drive growth without fundamentally investing more in the business or product? Some users noted the new app was much slower than the previous Windows and iOS versions citation needed, had many features. Evernote announced the limitation for users of its free Basic account to two devices per year and raised prices for its premium service tiers. It’s been 10 years since they first took funding. Evernote is a note-taking and task management application. Many investors - big-name investors - are waiting to get their returns.
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