Evernote's recent expansion into verticals has produced a winner in the food category. The leader in personal storage and note taking launched in 2008 and today has more than 45 million MAUs. Evernote Food 2.0 partners with Punchfork for recipes and is powered by Foursquare for restaurant discovery in what is certainly a service intended to compete with market leaders such as publicly-traded Yelp. Evernote describes the new version as a "soup to nuts" food experience starting with the creation of food itself. The video tutorial sparkles with social sharing and food discovery and hints at shopping - presumably relative to what or where you are planning to eat. Evernote's upward-sloping Alexa Ranking would be impressive if not for slope of its capital raising chart: $251 million since its inception in 2006. With the Internet rapidly becoming our memory, it appears Evernote is in a great position for an IPO. I wonder how much of its recent rounds were allocated to equity takeout of founder's stock? Investors may recall Groupon cashed out $900m of a $1.0b in pre-IPO financing for founders and early investors.
by Simons Chase - LBS.CO