Read It Later obtained venture capital investments of US$2.5 million in 2011 and an additional $5.0 million in 2012. In addition to some unnamed angel investors, funds came from Foundation Capital, Baseline Ventures, Google Ventures, and Founder Collective.[6] The company rejected an acquisition offer by Evernote after showing concerns that Evernote intended to shut down the Read It Later service and amalgamate its functionality into Evernote's main service.[7]