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Business Operations Business Models

How Does Evernote Make Money (Business and Revenue Model)

The Evernote business model

How Does Evernote Make Money?
Here’s what you should know:
  • What is Evernote, and how does Evernote work?
  • How does Evernote make money?
  • Subscription Revenue
  • Evernote’s Subsidiaries, Acquisitions, and Exits
  • Evernote’s profit and revenue
  • What is the Evernote business and revenue model?
  • Evernote’s funding and valuation

How does Evernote make money if it’s free to use? Here is a full, in depth, breakdown of their main revenue stream and services they offer, as well as the Evernote business model, their year over year revenue, and how Evernote works.

What is Evernote, and how does Evernote work?

Evernote is a notes organizer app that allows users to take notes, get organized, manage tasks, and more.

Founded in 2000 by Stepan Pachikov, Evernote is one of the top productivity apps with more than 225 million daily users.

How Evernote works is: To use Evernote, users must first create an account.

Once an account is created, users can start taking notes for free. But if a user wishes to have additional features that the free version does not have, they can upgrade to one of Evernote’s paid subscription plans.

Some of Evernote’s competitors include Slack, Grammarly, DocuSign, Notion, Trello, and other productivity apps.

Evernote App in Apple App Store | Evernote Business Model | How Does Evernote Make Money? | How Does Evernote Work?
Source: Apple App Store | Evernote

How does Evernote make money?

According to Evernote’s about page, Evernote has more than 225 million users. So how does Evernote make money off of all these users?

Below is a breakdown of how much money Evernote makes and its revenue model. Including their main revenue stream and how much they charge for their services.

Here is how Evernote makes money (in 2022):

Evernote has a revenue model that makes money in just one (1) way – subscription revenue.

#1. Subscription Revenue

Though Evernote offers a freemium tier to its users, Evernote makes all of its money by upselling its users to paid subscription plans.

As noted above, Evernote has over 225 million users; although how many of those are paying users is unknown.

Evernote offers three (3) tiers for its paid subscription service; Personal, Professional, and Teams. All of which offer their own set of perks and added features that the freemium version does not have such as note size, monthly uploads, and more. You can see the simplified price breakdown below or go here to take a look in detail.

Evernote Cost:

  • $7.99 to $14.99 per month (per user) depending on the plan
Evernote Cost | Evernote Business Model | How Does Evernote Make Money? | How Does Evernote Work?
Source: Evernote

Note: Evernote has over 225 million users; although how many of those are paying users is unknown.

Evernote’s Subsidiaries, Acquisitions, and Exits

To date, the Evernote Corporation has made a total of 5 acquisitions.

Evernote Acquisitions | Evernote Business Model | How Does Evernote Make Money? | How Does Evernote Work?
Source: Crunchbase | Evernote

Evernote’s profit and revenue

Evernote has not reported any official reports in regards to earnings for the company.

Note: Because the Evernote Corporation is a privately held company, they are not required to make their annual reporting, such as Form 10-K’s, pubic.

What is the Evernote business and revenue model?

Evernote makes money through a few revenue models that they combine within their company, they are:

  • Freemium (upselling) business model
  • Software as a service (SaaS) business model
  • Mergers & acquisitions (M&A) business model

Evernote’s funding and valuation

According to Evernote’s Crunchbase profile, Evernote has raised $290 million over 11 rounds as of May 2022.