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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

#201

Post by kardos »

ummonk wrote: post #184
lorenzhs wrote: post #163

Earlier quoted context omitted.

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 m…

4/10 is surprisingly low. Most of us would borrow to pay a $400 emergency expense. Are there really that many people out there paying with cash or check instead of “borrowing” by paying with credit card?

The technicality of making the payment by cash or cc is beside the point, the point was that there is not 400 of savings available to immediately pay down the CC

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

#202

Post by dylan604 »

tim333 wrote: post #45
gtirloni wrote: post #38

Earlier quoted context omitted.

I wouldn't expect them to say anything different.

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

rocket ships have a habit of running out of fuel. hopefully, with the right planning, that's just about the time they land or arrive in orbit.

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

#203

Post by TimTheTinker »

munchbunny wrote: post #145
bernierocks wrote: post #57

Earlier quoted context omitted.

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/shill…

I appreciate the subscription model, since it aligns with the fact that secure products must continue to be developed to stay secure. Security is a process, not a destination.

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

#204

Post by zaksoup »

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…

This is a really easy question to answer. I duck-duck-went "1password what happens if I stop paying" and the first link was https://support.1password.com/membership-billing-policy/

From the link:

> Your data is yours. Even if you cancel your subscription and your account is frozen, you can still sign in to 1Password.com or in the apps to view and export your data.

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

#205

Post by robenkleene »

gbear605 wrote: post #200
robenkleene wrote: post #136

Earlier 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.

What if you have a device that iCloud isn’t available on? What if you want to check passwords on someone else’s computer? Or on a public one?

Agreed, those are advantages of the 1Password subscription service. My opinion about 1Password wanting to migrate people to their subscription service for business reasons is based on reading forum threads over the years to figure out where they've buried the option each time there's a new version. E.g., there are two ads for their sync service on the page that describes how to use iCloud[1] (they've toned-down the messaging a ton these days, that support page didn't used exist, and the forum support thread were banging the 1Password Cloud Sync drum much harder than they do today).

Note also I'm replying to this comment "It’s cloud-based because the majority of password management users want automatic cross-device updates without setting up their own server." Seems relevant that "cross-device updates" don't require a server (at least among Apple devices)?

[1]: https://support.1password.com/sync-with-icloud/

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

#206

Post by chrisstanchak »

tolmasky wrote: post #189

1Password needs to rename their service. I have told non-technical people "oh you should really use 1Password", have have them respond "Oh I do!", only to later find out they meant they use "one password" for every service, the exact opposite of the right thing to do! It is seriously some "Who's on First?"-level bullshit that leads me to have to be incredibly meticulous and careful when recommending their product. Im…

This is pretty funny

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

#207

Post by tumblen »

tolmasky wrote: post #189

1Password needs to rename their service. I have told non-technical people "oh you should really use 1Password", have have them respond "Oh I do!", only to later find out they meant they use "one password" for every service, the exact opposite of the right thing to do! It is seriously some "Who's on First?"-level bullshit that leads me to have to be incredibly meticulous and careful when recommending their product. Im…

Great point that I hadn't thought of, but is so true! It communicates ok in text, but verbally not well at all.

Maybe they can rebrand to "123456"

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

#208

Post by ThePowerOfFuet »

Dirlewanger wrote: post #107
novok wrote: post #74

Earlier quoted context omitted.

What do you mean native app? I use the native apps all the time and it’s a pretty prominent thing that you get redirect to when you press get started on their front page

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.

They don't give a shit about your vault. They want your money every year instead of once-off.

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

#209

Post by fireattack »

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…

What does "mm" in $800mm mean?

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

#210

Post by m0zg »

Just goes to show that how you sell stuff dominates _what_ you sell. 1Password is a relatively primitive CRUD app with multiple $0 competitors (I moved off it to Bitwarden, which is ugly, but works fine). And yet they have (judging by the amount raised) at least tens of millions of paying customers, if not hundreds of millions.
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