(Perhaps not so) popular productivity app Evernote has slashed the annual premium membership rate in the wake of a rash of key staff departures from the company and reports of the company being in a “death spiral.”
An annual membership for the productivity suite now costs $42, down from $70, provided customers pay the fee in one lump sum. Monthly premium subscriptions remain at $7.99 per month (almost $100 over a year), so the deal is worth looking at if you’re a long-time fan of the app.
TechCrunch, reports the productivity provider has seen several senior executives flee the company in the last month, including CTO Anirban Kundu, CFO Vincent Toolan, CPO Erik Wrobel, and HR head Michelle Wagner.
A person who tipped TechCrunch off to the executive departures gave a slightly more blunt and uncharitable spin on the state of affairs. “Evernote is in a death spiral,” the tipster claimed. “Paid user growth and active users have been flat for the last six years and their enterprise product offering has not caught on.”
If this is an accurate description, it would pose a tough challenge for the company as it eyes up another round of funding.
Evernote has faced increased competition from rivals in recent years, including free alternatives from Apple, Google, and Microsoft.