The multiplier on this valuation is out of control. The 50x figure completely disregard the fact that Evernote is in a more competitive field than DropBox is. i

The multiplier on this valuation is out of control. The 50x figure completely disregard the fact that Evernote is in a more competitive field than DropBox is. it also fails to account for the lesser brand value of Evernote and, dismisses international expansion as a key Indicator for the valuation. In my opinion, Evernote deserves a lower multiple than Dropbox.