Note-taking system Evernote wants to return to the limelight.  Trendy showed a new application for iOS

Evernote, a note-taking and task management software tool, has been acquired by Italian mobile app developer Bending Spoons. The Milan-based company is best known for iOS apps such as Splice, 30 Day Fitness, Live Quiz and Remini.

In a post on the website Evernote CEO Ian Small stated that Bending Spoons to acquire Evernote in deal expected to close in early 2023. “For Evernote, this decision is the next strategic step in our journey to become an extension of your brain,” he wrote

Evernote note app

EverNote Corporation (then with a capital “N”) was founded in 2000 by Russian-American businessman Stepan Pachikov. Its first products were the handwriting recognition software ritePen and the web-based note-taking and clipping app EverNote.

In 2008, under new CEO Phil Libin, the company focused on the web, smartphones, as well as Apple Mac computers. A web application was also launched that same year. That’s what it (at least at first) appeared to be good strategy. Between 2010 and 2015, Evernote received hundreds of millions of dollars in venture capital from investors such as Sequoia, Meritech Capital and the Japanese media company Nikkei.

In 2013, Evernote was valued at nearly a billion dollars. But then problems arose. The chief operating officer, appointed in June 2015, left after just a few months. Meanwhile, Libin partnered with brands like Moleskine and Pfeiffer and launched a line of office accessories under the Evernote brand, but it didn’t catch on.

Turbulent period

In 2015, former Google Glass executive Chris O’Neill replaced Libino at the helm. In October of that year, the company laid off 18% of its workforce and closed three of its ten global offices. In August 2018 several top managers leftincluding the technical, financial and product director and the head of the HR department.

A further 15% of staff were made redundant in September 2018, which O’Neill justified as necessary to correct over-expansion and “inefficiencies”. Subsequently, the current director Ian Small, who originally headed the TokBox company, took his place.

Under his leadership, the company achieved $100 million in recurring revenue, millions of paying customers and more than 250 million users. However, it has largely failed to keep up with competitors such as Notion and has chosen to rely heavily on a freemium model, eschewing many of the collaborative features implemented by its rivals.

Bending Spoons buys Evernote

So what does Bending Spoons get with the purchase? It seems like another useful application to add to your portfolio. The Italian company makes apps such as video editor Splice, 30 Day Fitness, Live Quiz, and AI image enhancement app Remini, which together have around a hundred million users.

Bending Spoons CEO Luca Ferrari says the development studio will use his “patented technology”to “increased utility” and “enhanced reach” note-taking app Evernote. The terms of the deal were not disclosed, but the fact that Evernote was bought by a relatively small company rather than a major tech giant may be telling in its own way.

“At Bending Spoons, our mission is to make a lasting positive impact on our customers, associates and society as a whole. Every day, millions of people around the world rely on Evernote to organize their lives.” Ferrari said in a statement. “Therefore, Evernote is a perfect fit for Bending Spoons’ portfolio and we are delighted to serve its large and loyal customer base.”

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