Evernote defers “eventual” IPO, raises $85 million in funding


Evernote CEO Phil Libinannounced in a blog post today that the popular productivity app, which allows users to sync and collect documents and notes, has raised $85 million in financing. The new round was led by London-based AGC Equity Partners/m8 Capital, with participation from Valiant Capital Partners and previous investors. Libin said that 75 percent of the investment is a secondary investment, meaning it’s stock sold by existing investors, and the purpose of the fundraising is to “reduce the pressure to exit” and raise funding while moving toward an “eventual IPO.”

Libin explained the company’s strategy behind the fundraising and growth in a blog post on Friday:

As we’ve talked about in the past, there is no exit strategy at Evernote. Our goal is to build a permanently meaningful and enduring company; a hundred year startup. In order to accomplish this, we have to separate liquidity from exit. This latest…

View original post 187 more words

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s