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May 3, 2012 04:00 pm GMT
It's official. To transition from a startup into a late-stage company that aims to be around for 100 years, Evernote today confirms it's raised a $70 million Series D round of funding at a $1 billion valuation. Meritech Capital and CBC Capital were chosen to lead the round because they're the firms that can help Evernote prepare for an eventual IPO.Evernote doesn't need the money. It still has much of the $96 million that it's raised to date in the bank. But now Evernote will have the cash to isolate itself from short-term market conditions. The Series D will also fund international expansion, including a push in China, strategic acquisitions the development of business accounts and other features, and hiring of developers, designers, Q&A, and support.But just because it's maturing, Evernote has no plans of slowing down. I interviewed CEO Phil Libin about what the future holds for Evernote. He assured me "This funding keeps is us in the sweet spot to take risks. This is the most creative stage for the company."
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/HtlLvKFcTGQ/
Evernote Raises $70M At A $1B Valuation To Prep For An IPO, And The Next 100 Years
It's official. To transition from a startup into a late-stage company that aims to be around for 100 years, Evernote today confirms it's raised a $70 million Series D round of funding at a $1 billion valuation. Meritech Capital and CBC Capital were chosen to lead the round because they're the firms that can help Evernote prepare for an eventual IPO.Evernote doesn't need the money. It still has much of the $96 million that it's raised to date in the bank. But now Evernote will have the cash to isolate itself from short-term market conditions. The Series D will also fund international expansion, including a push in China, strategic acquisitions the development of business accounts and other features, and hiring of developers, designers, Q&A, and support.But just because it's maturing, Evernote has no plans of slowing down. I interviewed CEO Phil Libin about what the future holds for Evernote. He assured me "This funding keeps is us in the sweet spot to take risks. This is the most creative stage for the company."Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/HtlLvKFcTGQ/
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