Evernote, the app that lets you remember things, raises $2M
Summary
The Mountain View, Calif.-based company is announcing today that it has raised $2 million in venture funding from Japanese wireless carrier NTT DoCoMo. Back then, Evernote announced it had raised money from Troika Dialog Investment, but it finally has permission to talk about all of the funding, totaling $6.5 million, now Phil Libin, chief executive officer of the Mountain View, Calif.-based company, said the service has exceeded expectations since its launch in mid-2008 and now has 1.5 million users. He developed the necessary image recognition and processing technologies to make the service work quickly. The vision of creating a memory aid was always the same, but Libin joined in mid-2007 and helped the company do a major relaunch. Libin said the company has been profitable on a gross margin basis — meaning the cost of adding a new subscriber is less than the overall revenue stream — for the past eight months.
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