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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

#41

Post by chucktorres »

bashy wrote: post #27
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.

The process is increasingly convoluted to figure out. I'm still clinging on to their 1Password 6 license and it's now broken in Safari on Catalina. Life goes on.

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

#43

Post by ttul »

ghshephard wrote: post #31

This isn't really a typical Venture funding, and is definitely not a "Series A". Traditionally, at this point, 1Password would probably have just gone Public, without any need for venture funding. But, why go to the hassle of doing that when you can get most of the same benefits ($$$) without any of the pain (public reporting, SOX, etc...). The VCs at this point would be happy with a 3-4x return, because the risk is…

This is so so true. I have tried them all. 1Password is the no-brain option that crushes all others.

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

#44

Post by thesimon »

yborg wrote: post #22
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 Drop…

https://www.theglobeandmail.com/business/article-the-secret-...

Indeed it seems like only like $70mio go into the company, rest is cashout.

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

#45

Post by tim333 »

gtirloni wrote: post #38
auslegung wrote: post #35

Earlier quoted context omitted.

> Our relationship is a true partnership, not just an influx of cash. We’re not getting ready for an exit. We’re boarding a rocket ship.

I wouldn't expect them to say anything different.

Maybe to cash out in 3 years when they've rocket shipped a bit?

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

#46

Post by scrollaway »

toomuchtodo wrote: post #14
journalctl wrote: post #9

Earlier quoted context omitted.

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 Key…

As a sole user it's definitely a feature-not-product, but for teams 1Password really is a product with its extensive access controls etc.

Kinda reminds me of identity management / authentication. These also are features, right? But I feel a lot better about delegating that feature to a business whose core competency is that (eg. Okta, Google, …).

"Payment" also is a feature, but I'd never not use Stripe.

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

#47

Post by scott_s »

Am I the only one who considers this a good thing?

I recently started using 1Password, and I love it. I finally jumped in because a colleague gave it glowing praise and my company gave us corporate accounts. After using it for a week through my company account, I created a separate personal account for myself. I happily pay a monthly subscription because it is a service I benefit from daily. It also lets me neatly manage personal and company accounts easily, from the same interface, while still keeping the vaults separate.

I see this as a good thing because someone will become the password manager for large companies, and that someone will likely become the password manager. I'm glad to see it's likely to become a service that I think is a good one.

I understand people are worried that the personal use will suffer, but I don't see how. (I understand why people say that - less emphasis on a smaller market - but I don't see how since the corporate offering is basically the same thing as the personal one, to an individual user.)

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

#48

Post by nytesky »

swozey wrote: post #34
pgt wrote: post #16

What are good alternatives to 1Password?

Bitwarden will be the most recommended. I tried it to move off of 1password a few months ago, there was a time where 1password kept breaking the extension in every OS I was using. I can't remember exactly what was missing but there were several things I was used to in 1password that weren't available in bitwarden that made it feel clunkier to me. It's UI is definitely the closest you'll get to 1pass. I think a big re…

How mature is Bitwarden? I know its open source, but IIRC the business address for Bitwarden is a random house in Jacksonville, Florida? And that was only found on Reddit or something.

If its open source thats great, but most people are not building the clients for iOS and MacOS at home. We trust the builds that they host to be true to the source.

1password lists its physical address on its home page (and I think every page).

Lastpass is part of Logmein, an established tech company in Boston.

I'm very wary of a password manager trojan horse, similar to the Kaspersky incident.

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

#50

Post by jliptzin »

ttul wrote: post #43
ghshephard wrote: post #31

This isn't really a typical Venture funding, and is definitely not a "Series A". Traditionally, at this point, 1Password would probably have just gone Public, without any need for venture funding. But, why go to the hassle of doing that when you can get most of the same benefits ($$$) without any of the pain (public reporting, SOX, etc...). The VCs at this point would be happy with a 3-4x return, because the risk is…

This is so so true. I have tried them all. 1Password is the no-brain option that crushes all others.

I haven’t tried 1password, I have been using LastPass, would you recommend I switch?
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