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Online productivity and collaboration tool company WebNotes Inc. quietly pulled up stakes earlier in the year to move to California, and it’s now letting that part of its business run on autopilot while it launches a new online service to annotate documents such as PDFs, called Crocodoc.com. According to founder and CEO Ryan Damico, the company has also closed on a new round of angel funding.
While he wouldn’t disclose the amount of the latest funding, Damico did call out the backers, which include Dave McClure of Founders Fund, Delicious founder Joshua Schacter, Gmail developer Paul Buchheit, Youtube co-founder Steve Chen and XG Ventures.
According to Damico, WebNotes pulled out of Cambridge near the beginning of the year.
“We came out to the West Coast in January to participate in the Y Combinator program,” he said. Shortly thereafter the company officially moved its headquarters to Mountain View, Calif., Damico said, although he noted that two of the company’s four employees are still based in the Boston area.
Crocodoc is a spinout technology from the original WebNotes product, Damico said.
“We are still maintaining WebNotes, but we are focusing on crocodoc,” he said. “WebNotes is really a tool for doing research on the web. That was well received but what we found back in February that we had added a feature that allowed people to make notes on PDF files. And we found that that was really taking off.”
As to how crocodoc, which is a free web service, will make money, Damico said he was more interested in building a good product first, but that finding a monetization strategy would be easy.
“It’s not rocket science,” he said. “The standard freemium model works very well for crocodoc. We are also looking at some pay-as-you-go features.”
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