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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

#141

Post by dimino »

cj wrote: post #117
sagichmal wrote: post #102

Earlier quoted context omitted.

> Ever since they went to the cloud, I stopped using and recommending them to friends and family. The whole point of using a password manager is that the passwords I create and use on my {desktop, laptop, work machine, phone} are immediately and seamlessly available to me on all of the other platforms. As far as I know it is Cloud integration which enables this absolutely necessary and table-stakes functionality. Is…

1password had (maybe still has?) integrations with services like Dropbox where your vault would be stored on a 3rd party service like Dropbox to achieve the cross-device syncing your describing. IMO this was the more secure implementation (assuming 1password was only storing fully encrypted files on your 3rd party cloud preference) - even if someone broke in your Dropbox, they can’t decrypt your passwords without you…

I trust 1Password 100x more than I trust any individual to keep password information safe.

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

#142

Post by dak1 »

harikb wrote: post #121
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…

I have been following this company for like 10 years now, if not more. 1Password is anything but a typical software company. When they were small, I forget the year, they emailed us (each) six licenses of 1Password as a thanksgiving gift. A small gesture, but clearly the courage to leave that much money on the table for a small startup is laudable. On the other hand, each of my friends who got it "free" wouldn't have…

On Nov 23, 2010 (still have the e-mail in my inbox), they sent a "Happy Thanksgiving and 3 Gifts For You!" with free downloads of 2 books and links to give away a license of 1Password for Mac, 1Password for Windows, and Knox for Mac.

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

#143

Post by ValentineC »

NeedMoreTea wrote: post #53
jliptzin wrote: post #50

Earlier quoted context omitted.

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

Not any more. It used to be a no brainer, but they switched to cloud based subscription at great cost increase, loss of some features, and dark-patterned the native app into invisibility. Native is still available apparently, but you won't find it from the homepage, unless they were persuaded to change recently. Report an error in the native app, and they suggest switching to cloud subscription without addressing the…

> Native is still available apparently, but you won't find it from the homepage, unless they were persuaded to change recently.

I haven't verified this myself, but standalone licences seem to be available for purchase in the app itself: https://discussions.agilebits.com/discussion/92275/how-do-i-...

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

#144

Post by ncallaway »

gruez wrote: post #133
ramphastidae wrote: post #123

Earlier quoted context omitted.

You’re probably being downvoted because of this statement, which is blatantly wrong: > The only reason they went to the cloud is because most people were buying one copy and sharing it with multiple people. It’s cloud-based because the majority of password management users want automatic cross-device updates without setting up their own server.

>It’s cloud-based because the majority of password management users want automatic cross-device updates without setting up their own server. So? You can put the database on gdrive, icloud, dropbox, or any cloud service you want. I think most users understand the concept of creating a file, putting stuff in it, and putting it on a file syncing service (or usb drive).

> I think most users understand the concept of creating a file, putting stuff in it, and putting it on a file syncing service (or usb drive)

Many do, many don't.

Even for those that do, there is a significant hassle in getting a file sharing service (gdrive, icloud, dropbox) etc onto every possible device they have.

I mean, I'm with you in that I'm personally pretty skeptical of the cloud-based pw solution. But I can absolutely understand the story about a much simpler user-experience that it offers.

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

#145

Post by munchbunny »

bernierocks wrote: post #57
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…

If you asked me about 1password a few years ago, I would agree with you. Ever since they went to the cloud, I stopped using and recommending them to friends and family. I now use Keypss, which is free and doesn't require the cloud. The only reason they went to the cloud is because most people were buying one copy and sharing it with multiple people. It's a way for them to make more money, which is fine, but I really…

> The 1password employees must be down voting me. It's ridiculous that I get down voted for a specific opinion about the topic.

I was going to just disagree with you without downvoting, because I specifically was looking for cross device sync and mobile support (and specifically looked for a mobile app that supported using FIDO as a second factor to protect the vault.

However, attributing downvotes to employees/shills shows an inability to consider that there may be a good counter argument.

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

#146

Post by ticmasta »

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…

I think you are largely correct about this being a liquidity event vs series A funding; They are likely not looking at massive employee growth or marketing campaign as much as a way to unlock equity without going public.

This is good for users as it likely mean not huge changes to appease corporate overlords, but continues the sad story of limited young, profitable, small-cap Canadian tech companies available for outsider, passive investment. There are quite a few in the category of 10-15 years old, solid revenues/profit and founders that are ready to step back; most choose private equity or sovereign wealth funds investments in the 100M - 1B range over going public because of the hassle and reporting requirements. The average individual investor doesn't have access to these deals which is a shame because they tend to be established, profitable return generators. I don't blame the founders; I'd likely do the same route.

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

#147

Post by [deleted] »

skinnymuch wrote: post #126
Dirlewanger wrote: post #107

Earlier quoted context omitted.

They make it incredibly difficult to still pay the one-time fee for the software vs. doing the monthly charge. Like, hiding it. They have threads on their support forum of users complaining how deceptive it is. It's clear they want your vault on their servers and you paying the monthly fee instead of using Dropbox and paying a one-time fee.

Right. So that was one time they did a shift. And they slowly phased out the one time product which was a strategy they were employing from day one. They didn’t pull rug out from under customers more than once then.

[deleted]

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

#148

Post by woah »

gruez wrote: post #135
AmericanChopper wrote: post #115

Earlier quoted context omitted.

> They now need to hit $1BB or die trying What are you basing this off exactly? The only case where failing to hit valuation targets can kill a company, is when the company is reliant on continued funding to operate. A profitable company is free to disappoint it's investors in any way it chooses.

>A profitable company is free to disappoint it's investors in any way it chooses. ...until those investors are not satisfied with those low returns, and installs a new board/executive focused on milking their existing customers.

Depends on whether or not the control the company.

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

#149

Post by streblo »

skinnymuch wrote: post #125
swozey wrote: post #62

Earlier quoted context omitted.

> Am I the only one who considers this a good thing? This company over the years has, multiple times, basically ripped the rug out from under its users (moving to online vaults, hiding native app, switching from a single fee to monthly charge) so I really don't see it as a positive. From comments in here it seems like they'll be focusing on Enterprise. That just leads me to assume they'll listen to consumer feedback…

Aren’t all your examples things that happened at the same time or basically because of one shift? The switch to being a SaaS? So that’s just one time really. The events may be spread out a bit, but it’s really just one event to me.

You're correct that these changes all happened contiguously. The "multiple times" argument isn't very accurate.

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

#150

Post by sixstringtheory »

robenkleene wrote: post #138
chrisweekly wrote: post #132

Earlier quoted context omitted.

This option [1Pwd vault stored in Dropbox] is still available; I've been using it for years. Highly recommended!

Just adding to this accurate statement, you can also sync a vault in iCloud. So there are at least three syncing methods: 1. 1Password Cloud 2. iCloud 3. Dropbox And at least 2 and 3 can be used simultaneously, which is what I do, with my main vault in iCloud, and temporary vaults, e.g., passwords for a particular job, in Dropbox.

There’s also still the WiFi sync method which you can use to sync between devices without that information ever leaving your local network.
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