WillItSurvive
Enterprise and productivity software · subsidiary of Bending Spoons S.p.A. · United States

Evernote

evernote.com ↗

Evernote is a note taking and archive app now run as a cash generating brand inside Bending Spoons.

Protection under test
Assessed 22 July 2026 · Evidence as of 22 July 2026
Something worth protecting exists and is being tested right now.
On the recordSince 22 July 2026 · Checkable from Q4 2026 · Every call on the record Checkpoint: Bending Spoons earnings first disclose post repricing subscriber and churn trends
The call

Evernote survives on old note archives and a shrinking team while Notion and free AI tools from Microsoft and Google chip away at the reasons to stay.

Evernote lets people capture, organize, and search notes and documents. It built a 15-year archive that is hard to leave, and it can scan and read text from images better than many competitors. However, the basic job of taking notes is now free inside Microsoft Office and Google Workspace, and Notion has stolen market share by adding AI agents and charging less. Evernote has cut staff from 341 to 60 people and raised prices 86 percent, which is pushing customers to switch. The owner, Bending Spoons, is treating Evernote as a cash machine to fund other investments rather than as a growing business. Watch Bending Spoons earnings reports in late 2026 to see whether Evernote users are staying or leaving after the price increases, and whether the company is adding new customers or just squeezing existing ones.

Why
01
AI pressure: Notion AI agents. Notion's AI agents already do search, summarize and organize, pulling users who balked at Evernote's price hikes. Could AI do the core job? Yes, likely.
02
Bigger players: Microsoft (OneNote/Loop) and Google (Keep), both bundling AI note features free. Free AI capture and search inside Office and Google Workspace erodes the reason to pay for Evernote at all. Could a giant copy it? Yes, easily.
03
What protects it. 15 years of accumulated notes and 11 billion entries make full migration painful, plus OCR/handwriting scan quality still ahead of rivals.
What would change this call
Bending Spoons Q2-Q4 2026 earnings disclose Evernote-specific subscriber or churn figures. Would show whether post-repricing churn is stabilizing or accelerating.
Notion ships v3.0+ AI agents with note search/organize features matching Evernote's OCR archive. Would show Evernote's last differentiation versus Notion is eroding.
Reports of further Evernote-specific layoffs or feature freezes after the BSP IPO. Would confirm harvest-mode posture rather than renewed investment.
Key numbers
  • Personal plan price rose over 86% since 2025 (2025-06-01)
  • Staff cut from 341 to about 60 under new owner (2026-07-16)
  • Free tier capped at 50 notes, 1 device (2023-12-01)
Named risks
  • 86%+ price hikes since 2025 driving documented user churn to alternatives like UpNote. Severity: high
  • Core note-taking function commoditized by free AI in Microsoft, Google, and Notion products. Severity: high
  • Headcount cut from 341 to ~60 limits capacity for independent product innovation. Severity: medium
  • Evernote-specific financial and user metrics remain undisclosed inside consolidated Bending Spoons filings. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
Notionlosing toReviewers call Evernote's Jan 2026 AI Assistant 'catching up' to Notion, not leading, as of Feb 2026
Microsoft (OneNote)contestingFree OneNote bundled in Microsoft 365 undercuts Evernote's paid tiers ongoing through 2026
Google (Keep)contestingFree Google Keep bundled with Workspace competes directly with Evernote's core capture function
UpNotelosing toLong-time Evernote users publicly migrated to UpNote after July 2026 repricing backlash on TidBITS Talk
Questions people ask
Is Evernote profitable in 2026?
Evernote itself does not disclose standalone profit. Its parent Bending Spoons reported a Q1 2026 net profit of $27.5M (versus a $112.2M loss a year earlier), but this is consolidated across ~10 brands, so Evernote's individual profitability is not publicly verifiable as of June 2026.
Who owns Evernote now?
Evernote is owned by Bending Spoons, an Italian tech conglomerate that acquired it in a deal announced November 2022 and closed in early 2023 for roughly $200 million, when Evernote had about $100M in recurring revenue.
Is Evernote losing users to Notion?
Multiple 2026 comparison sources report Notion has gained share since Evernote's 2023-2026 price hikes, and reviewers describe Evernote's AI Assistant (launched January 2026) as 'catching up' to Notion rather than leading, per a February 2026 review.
Could AI replace Evernote's core function?
Basic note capture, summarization, and search are increasingly commoditized by free AI built into Microsoft OneNote, Google Keep, and Notion's AI agents, putting pressure on Evernote's paid core loop even after it added its own OpenAI-built AI Assistant in January 2026.
Did Evernote raise its prices recently?
Yes. Personal annual pricing rose roughly 86% or more, from about $69.99-$100 to about $129.99-$249.99 depending on plan, with the increase documented by July 2026 reporting and triggering visible user backlash on forums like TidBITS Talk.
Is Bending Spoons, Evernote's parent, a public company?
Yes. Bending Spoons listed on Nasdaq under ticker BSP on July 1, 2026, pricing at $29 per share and closing its debut day up about 40% at $40.50, raising $1.68 billion at close to a $20 billion valuation.
Timeline
  • 2026-07-16Report states Evernote headcount fell from 341 to about 60 under Bending Spoons
  • 2026-07-11Users publicly migrate to UpNote after repricing, backlash visible on TidBITS Talk forum
  • 2026-07-06BSP CEO says about 90% of company code is now AI-generated, up from under 10% a year prior
  • 2026-07-01Bending Spoons IPOs on Nasdaq as BSP, raises $1.68B at near $20B valuation
  • 2026-06-08BSP IPO filing discloses 2025 revenue $1.31B and Q1 2026 revenue $601.3M
  • 2026-01-19Evernote v11 launches with AI Assistant, Semantic Search, AI Meeting Notes
  • 2024-08-01Free plan further restricted to one connected device with capped desyncs
  • 2023-12-01Free plan cut to 50 notes, 1 notebook, 1 device
  • 2023-07-09Evernote relocates operations to Europe, laying off most US staff
  • 2023-02-27Evernote lays off 129 staffers under new Bending Spoons ownership
  • 2022-11-16Bending Spoons announces acquisition of Evernote, citing ~$100M ARR
Revision history
22 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
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