Going forward, we’re streamlining certain functions and will continue to make investments to speed up and scale others, like product development and engineering. We must adjust quickly when part of our strategy is not meeting our expectations. We’ve grown significantly this year, but at the same time we invested too far ahead of that growth. This was an extremely difficult decision and one that we did not take lightly.Īs you’ve heard me say during the past few months, I set incredibly aggressive goals for the year. We’ll be saying goodbye to 54 talented and dedicated people, each of whom has contributed to Evernote’s mission. You can learn more about what happened today via a note that O’Neill just sent to staffers.įor those of you who missed our All Hands today, I have some difficult news to share.Īs part of an ongoing evaluation of our business, we’ve decided to make a tough, but necessary decision to set Evernote up for future success. Rowe Price, but the last round it raised, according to Pitchbook, was a $6 million mezzanine round that closed in 2013. The company has raised nearly $300 million over the years, including from Sequoia Capital, New Enterprise Associates, and T. It’s worth noting that in addition to shoring up its ranks, Evernote may soon be facing a funding shortage, if these layoffs were’t prompted by one. In fact, a person who tipped TechCrunch off to the executive departures two weeks ago characterized Evernote as “ in a death spiral,” saying that user growth and active users have been flat for the last six years and that the company’s enterprise product offering hasn’t caught on. In the meantime, this newest development certainly doesn’t look encouraging. We’ve reached out to the company for more information about what the move means for Evernote. At an an all-hands meeting earlier today, he told gathered staffers that Evernote has no choice but to lay off 54 people - roughly 15 percent of the company’s workforce - and to focus its efforts instead around specific functions, including product development and engineering. Now, Chris O’Neill - who took over as CEO of Evernote in 2015 after running the business operations at the Google X research unit - is sharing more demoralizing news with employees. Just two weeks ago, we reported that Evernote had lost several of its most senior executives, including its CTO Anirban Kundu, CFO Vincent Toolan, CPO Erik Wrobel and head of HR Michelle Wagner. It’s no secret that Evernote, the productivity app that lets people take notes and organize other files from their working and non-work life, has been trying to regain its former footing as one of the most popular apps in the U.S., and that doing so has been an ongoing struggle.

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