How Will they adapt if something like webauthn or any other passwordless tech catches up ?
In Its First Funding in 14 Years, 1Password Raises $200M Series A
161–170 of 394 posts
Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A
#162Earlier 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 so they can hold your data hostage and charge a subscription fee. The cloud synced updating features you're talking about work fine for me already with 1Password's iCloud-backed syncing, which is how most Mac and iOS apps sync data, it's just in that model Apple has control of my data, not 1Password (and I don't pay a subscription fee), so they make it incredibly difficult to configure that way.
You do realize you’re literally like the person who was saying “who needs Dropbox i can do it myself in 5 bash lines”?
Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A
#163I 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, especiall…
> 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?) Our pricing intuition around software is so weird . That's $370 over six years. If you went to a theater and watched a movie alone every couple of months, you spent more on tickets than you did on 1Password in that time.
Saying that $370 is not a lot of money shows just how far removed the tech bubble is from the rest of the world.
"Four in 10 adults in 2017 would either borrow, sell something, or not be able pay if faced with a $400 emergency expense." https://www.federalreserve.gov/publications/files/2017-repor..., page 21. That's a lump sum expense, not paid over time, but I think it illustrates quite well that $370 is a lot of money for something most people don't even know they need.
Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A
#164Earlier quoted context omitted.
> You can easily get these files on to your phone for passwords on the go. Something like 80% of the value prop of my password manager use is one-tap login (with FaceID) on mobile. Handwaving this away is failing to understand the product and market at a fundamental level. edit: literally a paper notebook with my passwords written in it is a better solution in essentially every dimension than a non-syncing password m…
I definitely see the benefit of storing my passwords locally and not some single point of failure, but I also wouldn't ever claim it's simple or even a good solution. It does help me ease up on creating new account to places I don't need because I think about having to create and sync up a new password between my devices.
How is that a single point of failure? You have downloaded copies on all your devices and the database is encrypted with your own master key, so even if 1Password is hacked there isn’t really a problem, just like LastPass hasn’t died when it had one.
Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A
#165This 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…
They might have great software - I don't know. But personally I absolutely refuse to use a paid option for a service of this type. There's just too much risk. What happens if my credit card expires and I forget to update/pay? Or I get hospitalized suddenly and there's a similar payment issue? Is my account just closed and everything deleted?
Then there's the risk of me putting everything in there and them jacking up the price. I'd either have to eat it or manually migrate everything.
There are other concerns as well. And I'm not saying I think they are dishonest. But when there are open source methods that are free and battle-tested for security, I see no reason to go with a paid option.
Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A
#166Am 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 ma…
Am I the only one who considers this a good thing?
Why do you see this as a good thing - what good will come of it for you? You’re describing a tool which already does what you want;
With this investment, 1Password need to squeeze half a billion extra dollars out of you just to give to investors. What is it that their tool doesn’t do for you, which needs that kind of trade for them to be able to build it?
Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A
#167Earlier quoted context omitted.
It's cloud-based so they can hold your data hostage and charge a subscription fee. The cloud synced updating features you're talking about work fine for me already with 1Password's iCloud-backed syncing, which is how most Mac and iOS apps sync data, it's just in that model Apple has control of my data, not 1Password (and I don't pay a subscription fee), so they make it incredibly difficult to configure that way.
You do realize you’re literally like the person who was saying “who needs Dropbox i can do it myself in 5 bash lines”?
Wha..? I'm totally not following, iCloud syncing is completely transparent and built-in to 1Password. There's 0 extra work to support it (outside of finding how to turn it on, because it's buried in the UI), there's literally less work than 1Password's own subscription service, because that requires setting up an account whereas iCloud doesn't.
Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A
#168Earlier quoted context omitted.
>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…
>there is a significant hassle in getting a file sharing service (gdrive, icloud, dropbox) etc onto every possible device they have.
What is this "significant hassle"? Surely it's not that much harder to install [sync app] + [password app] than it is to install [password app]?
>Many do, many don't.
I suspect the intersection between "people who don't know how to manipulate files" and "people who care enough about passwords and are willing to fork over $36/yr" isn't big.
Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A
#169Earlier 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…
It isn’t more secure, unless you’re asserting Dropbox cloud is more secure than 1Password. 1Password still encrypts it on the client side.
Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A
#170Earlier quoted context omitted.
I have 1Password and Bitwarden on my screen right now. Bitwarden does not hold a candle to 1Password. There is no Watchtower or MFA availability notification. Yes, BW is a password manager, and that is about it.
Those aren't core to actual password management though. Bitwarden is a very good password manager, and that's what it needs to be to fulfil its raison d'être. If 1Password's claim to fame is functionality beyond password management, so be it, but that doesn't define it as better but rather broader scoped.
We actually use all those features in addition to password management. Our old password management strategy was an encrypted Excel spreadsheet. This creates problems, obviously. Management, at least to me, mean ACLs, reporting, auditing, and alerting. And that is on top of basic password management.