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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

#171

Post by gruez »

AmericanChopper wrote: post #160
gruez wrote: post #155

Earlier quoted context omitted.

"Accel" wasn't even mentioned in my original comment. Quit putting words in my mouth.

You said: > They now need to hit $1BB or die trying And alluded to “those investors” being able to take over management of the company. As 1Password is already profitable, and has not been acquired, I’m just trying to figure out what reason you have to make those claims.

>You said:

>> They now need to hit $1BB or die trying

I didn't, actually. Note the usernames. My reply was regarding the more blanket statement of

>A profitable company is free to disappoint it's investors in any way it chooses.

Also, it's not too unreasonable to assume that a controlling stake was obtained considering that the article said "[this is] a gigantic Series A even by today’s standards", and "The company declined to provide its valuation". Elsewhere in the comments someone mentioned that almost 2/3rds of the money was a "cash-out", rather than an investment to the company. Both statements suggest that a large stake was acquired.

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

#172

Post by chrissnell »

gtf21 wrote: post #61
swozey wrote: post #30

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, especiall…

Very frustratingly, there's no Linux client and they recommend 1PasswordX for Linux users, which doesn't allow offline vaults, pretty sure it _requires_ 1Password's online service.

I switched to Bitwarden three or four years ago because of the lack of a native Linux browser plugin. I used their Windows plugin via Wine but it was just a crappy option. Bitwarden does a good job.

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

#173

Post by abendy »

ping_pong wrote: post #158
chucktorres wrote: post #41

Earlier quoted context omitted.

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.

it's also broken on all Windows, and for Chrome on Mac. I also have my 1Password 6 license using Dropbox to sync and I just cut and paste my passwords now. I don't want to pay subscription since I paid $80 already for something that doesn't substantially change.

I use v6 on Mac/Chrome and it works as expected. When did it stop working for you? And have you found a work around? I'm dreading the day this stops working. I'll probably bail on this company if they prevent me from using software that I have paid for unless I upgrade.

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

#174

Post by ummonk »

jodrellblank wrote: post #166
scott_s wrote: post #47

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 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?

They need to squeeze half a billion extra dollars from businesses. The growth potential will be on expanding the B2B revenues.

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

#175

Post by switz »

kgraves wrote: post #69
switz wrote: post #42

Earlier quoted context omitted.

I'm no champion of VC backed business, but this is an absurd statement.

Why? I am genuinely curious.

There are countless examples of successful businesses (and products, if that's your point of emphasis) that have raised VC, both from a company and consumer standpoint.

VC can corrupt product, and I have intentionally avoided VC funding for my products, but to say it "never ends well" is just hyperbole.

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

#176

Post by markdown »

turc1656 wrote: post #165
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…

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…

> What happens if my credit card expires and I forget to update/pay?

I paid for it once and then used it for years and years without updating. After a few years the browser extension stopped working (was no longer compatible with current browsers) so I decided to buy again. By this time they'd moved to a subscription system and I have no idea how it works.

It used to be simple... there was an app, and if you stored the password file in Dropbox, you got cross platform support. But now the UX is terrible. I don't know where my passwords are stored, I don't know if the entire thing will stop working if I stop paying, etc. What a shame. I used to recommend it all the time but since the update there's no way I could recommend it to anyone I know who isn't a techie.

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

#177

Post by ummonk »

joshmn wrote: post #110

I'm happy for them, but I'm worried about what this means for the product and its future. They now need to hit $1BB or die trying. And most of the time that means die. Maybe they might have some life-changing enterprise thing up their sleeves. I don't know. We don't know. I'm wishing them well, I just am bracing for impact.

SaaS companies in 1Password’s level of maturity rarely die trying to hit $1BB.

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

#178

Post by hnra »

robenkleene wrote: post #167
ymolodtsov wrote: post #162

Earlier quoted context omitted.

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.

You can use iCloud without an account? Is iCloud available outside of Apple ecosystem? Otherwise it doesn't seem very relevant since its not a general solution.

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

#179

Post by roustem »

CPLX wrote: post #104
gtf21 wrote: post #6

I hope this isn't a bad sign for the future of 1Password. I've been a customer as a consumer for about ten years, and my team has been using it for four years. The nice thing about them is that they have always had a great consumer product (and the teams product has also been excellent). Since they didn't need to take on the funding, I wonder if having a fund on board will result in focussing on the wrong things (e.g…

Wanted to piggyback on this thread since I've been thinking about using a password manager for awhile and have never gotten around to it. What's the best service level for 1password for a small office, like 10 people or so, that want to just share basic passwords for things like social media accounts, mailchimp login, adobe password, and stuff like that?

Thank you for asking! 1Password Teams is the best option for smaller teams: https://1password.com/teams/

You can always change it to 1Password Business later if you need more permission controls, user groups, etc.

If you need help with anything, please get in touch with our business team: business@1password.com

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

#180

Post by endorphone »

1Password almost makes me feel like I'm in the Truman Show or something.

It's a company whose founders live in my small hometown and keeps appearing in my life in the most disconnected ways (despite living hours away). Just recently my sister-in-law was hired to the company. All along I'm super impressed by their model and great culture, but at the same time believing that it's -- in the words of Steve Jobs -- a feature and not a product.

Fantastic to see them doing so well.

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