191–200 of 319 posts
These guys must really be pessimistic about their future if they are accepting a deal of $86/share. Their 52 week high was $96/share, and as high as $120/share last year.
A 4.3 billion USD valuation at exit is not all bad news I'd say. Better a deal at 4.3 billion than none at 5.5. I'd be laughing all the way to the bank with an exit like that and not worry too much about what could have been.
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And doesn't work on Linux.
It does: https://support.1password.com/explore/linux/ There is even a cli: https://1password.com/downloads/command-line/ Not having a native gui is not the same as "not working".
Software Engineer here working on GotoMeeting (throwaway account). Not having gone through a private equity buyout in my career before, any ideas of what to expect/any recommendations of what to do now?
My old company used Logmein professionally to remotely manage 100s of computers for many years before switching to ConnectWise. They had a great product for a long time but some of the worse licensing decisions I've ever seen. It went from being completely free to several thousand dollars overnight without any additional features, support, etc being offered. And meanwhile development was stagnant with only weird chan…
I agree. I have around 500 computers under management, finally left them for Teamviewer after LMI's price tripled and their features halved (or worse). I ran it mostly from Linux, which they seemed to be withdrawing support for.
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If there weren't pieces of software that people were willing to pay a subscription for, then software quality would be horrible. The reason why 1Password is so good is that the developers are paid to work on it, and some business needs (such as having really good quality stuff so you can get recommended to more potential customers, and so that your existing customers don't leave) push you towards higher quality softw…
I don't remember software quality being a ton worse before software subscriptions became common. Operating systems and certain development practices (maybe, less certain about that one) have led to some noticeable improvements, but that mostly happened before the shift.
It's one thing to use a standalone app like MS Money for 20 years with various hacks and compatibility modes to keep it working. Over the time I've used a password manager I've seen OS and browser updates break parts like plugins or syncing. I've transitioned to using passwords more on my phone (and phone APIs have changed).
My old company used Logmein professionally to remotely manage 100s of computers for many years before switching to ConnectWise. They had a great product for a long time but some of the worse licensing decisions I've ever seen. It went from being completely free to several thousand dollars overnight without any additional features, support, etc being offered. And meanwhile development was stagnant with only weird chan…
For what it's worth, ConnectWise is also owned by private equity (Thoma Bravo). TB seems to be supporting the growth of the company.
I hope to not have to work for a PE-owned company in the future, as their goals (to position for their exit, usually 3-5 years after initial purchase) often result in short-term oriented choices that hurt a company's long term potential
Off-topic, but can anyone tell me of an instance whereby a software entity was acquired by a VC firm and things turned out great?
Note: am employee.
These guys must really be pessimistic about their future if they are accepting a deal of $86/share. Their 52 week high was $96/share, and as high as $120/share last year.
A 4.3 billion USD valuation at exit is not all bad news I'd say. Better a deal at 4.3 billion than none at 5.5. I'd be laughing all the way to the bank with an exit like that and not worry too much about what could have been.
If this was a private company/startup, of course you'd be laughing all the way to the bank. Not so if you were a public investor in LogMeIn. Far from it.
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If I can't understand the business model, I'm probably not going to use the software.
They primarily sell backup software, and they show the occasional ad to you in the app.