US-based collaborative workspace provider Evernote has spun out its Chinese unit, Yinxiang Biji, with several hundred million Chinese yuan (RMB100 = $15m), TechCrunch reported yesterday.

The funding was supplied by Sequoia Capital’s CBC Cross-border Digital Industry Fund. Ownership of Yinxiang Biji has been split almost equally between Evernote, Sequoia and the spinout’s management team.

Evernote and Yinxiang Biji have signed an initial two-year deal to cross-license intellectual property and collaborate closely. The deal may be extended in future.

Founded in 2007,…

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