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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

#21

Post by toomuchtodo »

dajonker wrote: post #19
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?

You're not wrong. If the friction is low, user harm is minimal because they can move easily (the import from 1Password to Bitwarden was painless), and you're just burning someone else's VC dollars, I ain't even mad. No extra credit for making life harder than it has to be.

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

#22

Post by yborg »

simongr3dal wrote: post #10

Seems like a very weird thing for them to do. The article mentions all the things that 1password succeeded in doing on its own: bootstraping themselves, shifted their product to focus on subscriptions, even made their product work well with more enterprise-y needs. All while working out pretty well financially. And now they need capital funding. For what? The quotes in the article seems to say that a developing a go-…

They don't need the money, I assume this is a CEO/founder cash-out. They have an established revenue stream, and have established an enterprise presence, they will be an attractive acquisition target. There's so much VC money floating around that a sure bet like this can attract that kind of money, and who would turn it down?

I'm still on the pre-subscription 1Pass and kudos to them that it still works, but like Dropbox this will become an enterprise service that will be too expensive for consumers. The good news is that password managers are now effectively a commodity, like cloud storage, so there are plenty of options.

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

#23

Post by deweller »

simongr3dal wrote: post #10

Seems like a very weird thing for them to do. The article mentions all the things that 1password succeeded in doing on its own: bootstraping themselves, shifted their product to focus on subscriptions, even made their product work well with more enterprise-y needs. All while working out pretty well financially. And now they need capital funding. For what? The quotes in the article seems to say that a developing a go-…

The money is for the enterprise product.

> 1Password plans to use its new capital to “aggressively” invest in its product and go-to-market programs so that it can continue to grow its enterprise customer base

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

#24

Post by tim333 »

simongr3dal wrote: post #10

Seems like a very weird thing for them to do. The article mentions all the things that 1password succeeded in doing on its own: bootstraping themselves, shifted their product to focus on subscriptions, even made their product work well with more enterprise-y needs. All while working out pretty well financially. And now they need capital funding. For what? The quotes in the article seems to say that a developing a go-…

To let the shareholders cash out maybe?

If they get annoying, Bitwarden's not bad https://news.ycombinator.com/item?id=21175332

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

#25

Post by kgraves »

classified wrote: post #12

I immediately thought this is the worst possible news about 1Password. In order to let the investors cash in, they'll ruin a good product or pivot completely, like selling online ads.

Agreed, to be honest, I was considering them as a password manager for my personal needs, now I am unsure about trusting them with this announcement.

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

#27

Post by bashy »

swlkr wrote: post #20

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.

I believe they still support buying a single license from within the app.

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

#28

Post by bretpiatt »

pgt wrote: post #16

What are good alternatives to 1Password?

For consumer (individual or family) or business?

Password management is a privacy and data sync problem.

As a consumer I use an Android device, Windows desktop, Linux laptop so OS or single ecosystem solutions don't work for me. They may be ideal for others.

For a business password manager I'd want to know who is storing my data and how it's being stored. It should be stored where the provider has no access to the passwords (data is encrypted client side before being sent through sync backend ).

Disclosure: TeamPassword is part of the business I run.

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

#29

Post by kgraves »

missU1P wrote: post #8

Yet another sustainable and useful business that'll be undone by Venture Capital. They've had sustainable growth with the support of paying customers who truly love the product, and now they'll be on the path to 100x and/or bust in I hope they'll re-release the standalone version before the last person out switches off the servers.

Those looking into a password manager solution dodged a bullet.

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

#30

Post by swozey »

I feel like I've spent an absolute fortune on 1password over the last decade. I'm pretty sure it was, what, $70 when I got it 6+ years ago? Now I'm paying monthly (2.99 or 4.99/mo x .. 3-5 years?) which is pretty ironic considering a lot of us initially left LastPass to go to 1pass because it was 100% offline (I'm aware you can do local vaults still). At least the QOL updates have been coming faster lately, especially with Android.

Anyway, very curious what this means. I'm sure there's a ton of features I've not thought about in years it could use (like LastPass's IP/region blocks) but 1password has never felt like it was a fast moving feature company. Maybe this will get us that.

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