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Evernote has taken hundreds of millions in funding over the course of five years. How they going to justify that investment with some portion of their 11 million users paying $45/year? Are they going to sell? If they sell, will the service survive?

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Wow, I thought you were kidding, but it looks like they've taken about $250 million in funding.

What have they spent it on? I have a mental disconnect between companies like Evernote and 37 signals. Why did Evernote need all that money?

It is a pretty high proportion though (>1M) and the user base is incredibly loyal. Combine with the lock in effect, lack of decent competition and opportunities into enterprise market and you have recipes for a bright future.

And there is no evidence of them selling. It is just FUD.

So Google Keep, a freenium product with Takeout, is evil, but Evernote, a paid product with lock in, is good?

Oooookaaaaay.

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