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Cloud Co. Evernote Gets $20 Mil

  • Mashable, Tuesday, October 19, 2010 11:51 AM
Evernote, which makes cloud-based note-taking products, has raised $20 million in a Series C round led by Sequoia Capital. The startup now claims to have about 4.7 million users worldwide, along with a strong business model. Indeed, Evernote CEO Phil Libin tells Mashable that the company still have $9.5 million in funding left over from a previous round, and that it is operating almost entirely off of premium subscriptions.

"The [new] funds, then, will be applied to aggressive international expansion that will include both product rollouts in languages beyond the 14 the company already supports and physical offices in additional countries," Libin tells Mashable. Just six months after releasing a Japanese version of its product, Japan makes up nearly 20% of its user base, according to Libin. Evernote now operates an office in Japan to support the regional growth along with its various API partners in that country. All told, the company now has 45 employees but is in "full on hiring mode," says Libin.

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