Evernote's Surprising Strategic Shift: A Major Workforce Restructuring and Transatlantic Relocation

Evernote's Surprising Strategic Shift: A Major Workforce Restructuring and Transatlantic Relocation

Evernote shifts focus to Europe, laying off US employees

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Bending Spoons, the Italian app developer that acquired Evernote last November, is making significant changes to the note-taking app as it moves its operations to Europe.

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In a rare move for a Silicon Valley company, Evernote has decided to wind down its operations in the US and Chile and transition its business to Europe. The decision follows the acquisition of Evernote by Milan-based mobile app developer Bending Spoons, which intends to leverage its strong European presence.

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"Unfortunately, this transition required that most of our Chile and US-based employees be laid off," announced Evernote CEO Francesco Patarnello. Affected employees were informed on July 5th and were offered substantial severance packages, including 16 weeks' pay.

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Bending Spoons, known for its popular mobile apps like video-editor Splice and AI-assisted photo editor Remini, has plans to revamp Evernote and make it its own. Patarnello emphasized the ambitious vision for Evernote, with a dedicated team in Europe assuming ownership of the product.

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Evernote, acting as a virtual notebook, allows users to organize and search their notes, as well as embed photos, audio, and web content. With a freemium model, it offers services for teams, professionals, and personal use.

Bending Spoons, which achieved over $100 million in annual revenue last year, is backed by major Italian banks and Maximum Effort, the film production company founded by actor Ryan Reynolds.

  1. Bending Spoons acquires Evernote, an influential note-taking app
  2. Evernote announces transition of operations from US and Chile to Europe
  3. Laid off employees in the US and Chile receive substantial severance packages
  4. Bending Spoons plans to revamp and enhance Evernote as its own product
  5. Evernote's virtual notebook features help users organize and search through their notes
  6. Bending Spoons achieves over $100 million in annual revenue

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