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In Its First Funding in 14 Years, 1Password Raises $200M Series A

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Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#11

Post by wfleming »

aljungberg wrote: post #5

This may become another example of a good company catering well to a specific niche, then taking on money until they are unable to cater well to their original niche anymore. Solving a specific problem well in a market worth $X is not compatible with taking 10 * $X in funding — you will be forced to start doing something else so you can make ROI. Along the way you’ll probably alienate your existing market by price go…

> (like switching to a subscription based service model for a simple app)

1Password did this a couple years back, before they even took on funding!

Maybe your choice of example was a sly reference to exactly that, sorry if it was and I'm explaining your joke :). If that was your intent I hope my comment at least makes it clear to people who aren't as familiar with 1Password's history.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#14

Post by toomuchtodo »

journalctl wrote: post #9
aljungberg wrote: post #5

This may become another example of a good company catering well to a specific niche, then taking on money until they are unable to cater well to their original niche anymore. Solving a specific problem well in a market worth $X is not compatible with taking 10 * $X in funding — you will be forced to start doing something else so you can make ROI. Along the way you’ll probably alienate your existing market by price go…

So what you’re saying is someone had better start working on a competing password manager today.

There are several competing password managers today of course! My take is that like Dropbox (disclaimer: paying Dropbox customer until iCloud Files is just a bit better), this is a feature, not a product (unless you need team or cross platform functionality, but for teams you should probably be enterprise grade with SSO instead of sharing creds).

I'd switch from BitWarden to a native Apple solution the moment the Keychain UX reached parity with BitWarden, n=1.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#15

Post by classified »

journalctl wrote: post #9
aljungberg wrote: post #5

This may become another example of a good company catering well to a specific niche, then taking on money until they are unable to cater well to their original niche anymore. Solving a specific problem well in a market worth $X is not compatible with taking 10 * $X in funding — you will be forced to start doing something else so you can make ROI. Along the way you’ll probably alienate your existing market by price go…

So what you’re saying is someone had better start working on a competing password manager today.

I'm inferring the same conclusion. The days of 1Password as one of the best password managers will soon be over.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#19

Post by dajonker »

atonse wrote: post #17

Why? I mean, by all means they've always felt like a true bootstrapping success story (I'm a happy 1Password customer for many years). Why take funding and give up control of your company to an outsider now?

Because you can cash millions so you'll never have to work again for the rest of your life?

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#20

Post by swlkr »

I moved away from 1password when they switched from license to subscription pricing.

There's nothing wrong with subscription pricing, especially when paired with cloud syncing. Bandwidth and cloud storage aren't free and the app is definitely worth the $2.99/mo.

It was a great move for them, just not for me since I don't sync my passwords over the cloud.

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