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Evernote to Hold Off on IPO Until 2015 at the Earliest

Evernote Corp., an online note-taking and document storage service, plans to hold off on an initial public offering until at least 2015 as it works to convert users of its free product into paid subscribers.

Watching Facebook Inc. lose roughly half its value since an IPO in May has made Evernote Chief Executive Officer Phil Libin want to “stay private as long as we can.” While Evernote’s membership has more than tripled to 38 million over the past year, only about 1.5 million are subscribers paying $5 a month, or $45 a year, Libin said in an interview.