Evernote Planning IPO

Ryan Whitwam

The next technology darling to head for an initial public offering (IPO) could be the stellar note taking service Evernote, Reuters is reporting. Evernote CEO Phil Libin told Reuter that an IPO is inevitable, but they were not rushing into anything. Considering the trouble Groupon has had, that sounds wise.

Evernote has upwards of 14 million users, 500,000 of which pay $5 per month for premium accounts. Evernote has an app for most mobile platforms, a web interface, and a desktop client. Users can upload plain text, images, and audio to keep their lives in order. The explosion in mobile devices has been a boon for Evernote. Libin says that 70% of users sign up from an Android or iOS device.

Revenue has been growing rapidly, up 300% last year, according to Libin. The company, which has just 102 employees, is looking to use a recent $50 million investment to beef up to 400 workers in 2013. Do you think Evernote will have a successful IPO?

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