ETEC 522 – May 2012

David Vogt 7:49 am on May 6, 2012

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  Dave Horn 10:14 pm on May 19, 2012 Permalink | Log in to Reply

  Yes, I would invest in this venture. As the Director of Educational Technology I am in charge of developing and e-Learning plan and evaluating potential tools to support the learning process. As our current plan involves having all students on iPads for the coming year one large issue in need of resolving is collecting and coordinating various pieces of information across several different platforms.
  Thus a web-based storage tools with multi-device/platform capability would address this issue. Knowing that mobile computing/learning will continue to grow this results in fairly high marketability for this product. Beyond simply storing content on the web for access, the information can be sorted/filtered and streamlined enabling users to use the information effectively thus there is strength in the venture concept and provide reasons for users to select this product over another.

  The CEO seems genuine and personable while presenting his pitch and his relaxed pace and examples indicate someone who has thought about what they are saying and has confidence in the product. Though more information is needed about the rest of the management team and resources in place to support this venture.

  The Venture concept while not new in terms of cloud storage is unique in that it can hold numerous types of data and filter/sort content

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    Dave Horn 10:25 pm on May 19, 2012 Permalink | Log in to Reply

    Sorry everyone, I accidently hit the “Reply” button before finished. Please continue reading from here.

    The Venture concept while not new in terms of cloud storage is unique in that it can old numerous types of data which can be indexed and accessed immediately. As mentioned earlier the growth in mobile learning and computing means that there is strong marketability and room for growth. The low user cost (free level and 5$/month) means that the product is accessible not only to working professionals, but also to students.

    From the Venture plan standpoint in the pitch, this was the weakest area in terms of knowing the project trajectory of this venture and the risk/return to the investor. As the Director of Educational Technology I know that I could bring our new program and student/teacher population to the table as a testing ground for developing and improving the viability of the product. This would provide me with first hand knowledge of the effectiveness of the venture and build capacity for returns in the venture.

    Dave

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  vawells 1:47 am on May 22, 2012 Permalink | Log in to Reply

  Yes I would invest in this venture at this time. The pitch is credible, concept is feasible and the potential market is there for this venture to be successful.
  Credibility:
  The pitch given by Phil Libin for Evernote, “your external brain’, is delivered confidently and with conviction. Phil Libin, the CEO of Evernote, exudes an air of confidence that gives weight to his pitch. During the 51 second pitch Libin presents detailed, factual information and clearly exudes the confidence, commitment and capability necessary to achieve success.
  Management Team:
  Although Libin makes no mention of his team, Evernote clearly has the resources, servers necessary to store, index, and allow users to search and retrieve the information. Taking the time to provide information about the team responsible for implementing/maintaining Evernote would further strengthen his pitch.
  Concept:
  The idea is feasible and Evernote’s versatility and ability to be used on multiple devices, web browsers, and in either Mac or windows environments makes it an original venture. The story is credible and his pitch compelling and believable.
  Opportunity:
  Evernote’s adaptability makes the target market virtually unlimited. The cost for a premium account is low, and the service usefulness should give this product a competitive in the world market.
  Competition:
  Libin does not reference competitors to his product. However I believe that Evernote’s ability to be used on Macs, in Windows, with a variety of web browsers, cameras and phones gives this product the competitive edge it needs to be successful.
  Market Readiness:
  I think the proposition is realistic and has the potential to be successful due to its versatility.
  Exit Strategy:
  Phil Libin is likable and confident. The proposition has the potential to be successful and I believe the risk for failure is very low. As an EVA I am ready to invest in this proposition.

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    Dennis Pratt 8:01 pm on May 24, 2012 Permalink | Log in to Reply

    Valerie;

    I agree that this might be a good investment as we all struggle at times remembering things and if technology can help us so much the better. I would like to see a quick demonstration of the software while the pitch is going on. I think it would pique my interest even more.

    Dennis

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  Chelsea M Woods 3:56 am on May 23, 2012 Permalink | Log in to Reply

  Yes, I would invest in this venture! Evernote helps with the most basic of needs, remembering things! By allowing storage of information across platforms, with downloadable and web-based versions, all synced and stored on Evernote servers, Evernote provides an effective option for saving and finding information. Evernote is introduced as an ‘external brain’ and able to store links, websites, text, images, and video. Information is tagged and stored in notebooks, which can be shared, allowing for an easy option for sharing projects and information.

  Evernote can be used for free, or for 5$/month you can get “virtually unlimited storage and all sorts of other goodies”

  I recommend trying this option with a few teachers and classes and then developing a plan for increasing use based on experience. The opportunities for collaboration, effective record keeping, and ease of access make this a perfect option for portfolios, class notebooks, project planners and more.

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  shawn harris 10:29 am on May 23, 2012 Permalink | Log in to Reply

  Yes I would invest. This is another growing dynamic improvement. The presenter which is the CEO of Evernote seems quite passionate as he tried humbly to inform the audience of the merits of the Evernote. I am definitely drawn by the idea; “an external brain” is what we need!
  There seems to be potential viability of the proposed learning technology initiative. As a department head, this elevator pitch grabs my interest as this venture has its place in the learning institution. The many benefits far outweigh any shortcomings.
  In this fast-paced incredibly diverse world, the Evernote as a technological development has its place and holds a firm position as it will almost always reduce carbon footprint which is highly beneficially to any economy.
  This venture is largely unique to the education marketplace at which I am apart of and to that end it is highly recommended. Evernote stores everything as readily accessible information allowing for searching via metadata as well as the data itself.
  The CEO seemed convincing and did not attempt the venture with uncertain outcomes. I can see where this type of venture can be deployed into schools and businesses. Due to its benefits, potential investors would gravitate to it.
  Although the pitch seemed credible, the presenter could have mentioned other members of the team to bring forth more credit to the product. However, I would still invest in this viable initiative due to my further research on the product. Therefore Eva for Evernote!

  ~ Shawn

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  Dave Horn 9:01 pm on May 23, 2012 Permalink | Log in to Reply

  Shawn,
  I agree that it would have been advantageous for Phil to mention other team members and behind the supporting framework. As potential investor I would also liked to have had some idea of the potential returns.

  Dave

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  Brian H 11:45 am on May 26, 2012 Permalink | Log in to Reply

  Yes, I would invest in Evernote.

  Evernote’s CEO exhibited the leadership qualities that is congruent to a successful management team. He indicates that the infrastructure is already present to view the service.
  The concept is original because of its cross platform ability allows the user to change and upgrade devices offering the prospect of long term viability.

  The market is effectually anyone who uses an electronic device. The product offers a free service that generates a large client base to advertise the paid service to. They have the advantage of being cross platform making proprietary note-taking software to appear to be redundant to most users.

  The market is ready and people are accustom to low cost apps for devices. I see the destination being an eventual take over by a large Corp. such as Google.

  There is risk in the fact that if an existing service Google, Facebook ect. rolls out a similar product so that a small venture could not compete. A legal team would need to be consulted to see how enforceable patents of this type of service could actually be.

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  Jody McKinnon 5:38 pm on May 27, 2012 Permalink | Log in to Reply

  Yes I would invest in this venture. I can see so many applications for use, most especially with my forgetful high school students. Since they all have smartphones, this would be an excellent app and one that they, no doubt, would access daily, if not hourly. I am simply basing my observation on this short video.

  He seems very personable and genuinely enthusiastic about his product. His tone is somewhat relaxed and is evident especially when he says it’s ‘only five bucks a month’. This is a reasonable price that even teens could afford. The product sounds attractive and user friendly, but I would like to know a little bit more about how it works prior to actually investing in the idea.

  As for the market, I do believe that the market might be very large for this product. It could be pitched to busy moms, forgetful students, pressed-for-time college/university students, the on-the-go business person and so forth. I can see it having applications for the government as well.

  Overall, the idea seems promising and I would consider it in a heartbeat

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  Yves Mainville 9:33 pm on May 27, 2012 Permalink | Log in to Reply

  Yes I would invest in this venture. The presenter seems very credible and to the point without coming off as a ‘used care salesman’. He appears to have a very firm grasp of the technology and how it works, to the point of being able to explain it simply yet effectively.
  He does not mention any other par tof the team, however the listener ‘knows’ there has to be a significant team in place based on the sophistication of the service and what he claims it is capable of doing.
  The concept is original (‘your external brain’) and they appear to have effectively done their homework as they are addressing two common problem with technology today : 1 – easy storage and retrieval of information in an otherwise unruly information-overload world; 2 – access to the information ‘anytime, anywhere, from any device’.
  Marketability is strong for this venture as it targets anyone managing information – this can go from the student, to the businessperson to the stay at home mother- the need is a ‘common’ one, thus representing an extremely large market size. They appear to have a very innovative approach as they, unlike similar products, have chosen to focus on the actual information being stored (text, audio, images) as opposed to the storage ‘space’, speed, etc. Furthermore, they have made use of the service hardware independent – users simply install to their device (smartphone, tablet, computer, etc) and are not looked into a proprietary device to use the service.
  In this particular pitch, key elements to the venture plan are missing, but based on what has been presented, certain assumptions can be made. He does outline the standard service offering and the premium service offering, the cost is not significant not does it requires expensive hardware. The fact that the user can use the standard service without financial commitment is key to propping up the users to want to purchase the premium version once hooked. The destination seems clear as they simply want to provide an easier way to manage information and give concrete ways it can be used (ie: picture of a biz card, whiteboard, leave yourself a note, etc.).
  I like this CEO, I like the simplicity of the explanation, and I feel there is significant potential with this service.

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  shawn harris 9:55 pm on May 27, 2012 Permalink | Log in to Reply

  In reading your post Yves, I was under the impression that you are the one pitching this venture. Are you using Evernote? Cause you sure sound quite experienced with the product. I will agree with you that the venture targets anyone handling data. It is easy to install and the cost is low according to the CEO. As I have pointed out in my post, I would invest!

  ~ Shawn