Evernote's Phil Libin wants to step down as CEO and find "someone who is going to be better than me at it"
According to the report, Evernote has been looking for a "professional CEO" for a while and it "may be close to something."
Libin, who joined the company in 2007, told The Information that he considers himself more of a "product person" and that the company needs a "professional" CEO, "someone who is going to be better than me at it."
Evernote is a popular productivity app that allows you to create and store documents. It was one of the early startups to reach the $1 billion "unicorn" status, and has been targeting an IPO for a few years.
However, with mounting competition in the space, particularly from bigger companies like Google and Dropbox, Evernote has been long-rumored to be losing some of its active users.
Libin told The Information that an IPO is still a couple of years away. Currently, Evernote has over 100 million registered users, but it's unclear how many of them access it on a regular basis. It claims to have more than 8 million people testing or paying its subscription package, including a $25 a year "plus" version, The Information says.
Also, quoting an unnamed source, The Information says Evernote had about $40 million in sales more than a year ago.