The main problem with Evernote seems to be that their total-available-market is way too small to justify their valuation and expenses. It's core success is as a note-taking app - how big is the market for that really? They are competing against free alternatives like Emacs-org-mode, Apple Notes, and Google Keep. Sure, they can carve out a niche for themselves as a premium multi-device cloud-based no-ads app. But a $1B valuation? I don't think so.
Evernote sounds like a company that tried too hard to be something it wasn't. "Smart covers for your feet"? Really?? The founders of Evernote could have built a very successful low-expenses high-margin lifestyle business that would have made them very rich. "Unicorn or bust" isn't always a winning strategy. I hope the other startup featured in NYTimes today - Superhuman - learns from Evernote's failings
Evernote sounds like a company that tried too hard to be something it wasn't. "Smart covers for your feet"? Really?? The founders of Evernote could have built a very successful low-expenses high-margin lifestyle business that would have made them very rich. "Unicorn or bust" isn't always a winning strategy. I hope the other startup featured in NYTimes today - Superhuman - learns from Evernote's failings