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1Password Has Raised $620M

blog.1password.com

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Re: 1Password Has Raised $620M

#41

Post by staticassertion »

crate_barre wrote: post #4

Anyone have any insight on how a company like this would even use $620m?

1. Expanding into new markets. "Secrets management" is not easy - 1Password is currently handling it for humans but they intend to handle it for services as well, likely competing with Vault.

They could launch a full identity provider like Okta.

2. Perhaps managing other authentication methods. Passwords are dying, especially with webauthn, so it makes sense to tak eon some money to explore how to be a player in that space.

They could compete with Duo, for example, and start offering a 2FA service.

Basically, I expect that the vast majority of this money will not be going towards the 1Password that you use today but instead towards breaking into new markets. Given the size, probably new markets that are somewhat established already.

Re: 1Password Has Raised $620M

#46

Post by tempodox »

This kind of announcement tends to ring all kinds of alarm bells for me. What kinds of changes should we expect to make those huge investments worthwhile for the investors?

My 1Password installation is grandfathered from a time when it was just a standalone app, without subscription. Will it just stop working one day to bully me into subscribing? Can you even start using 1Password these days without buying a subscription? I'll have to start looking for alternatives today.

Re: 1Password Has Raised $620M

#47

Post by ThePadawan »

thibaut_barrere wrote: post #10
crate_barre wrote: post #4

Anyone have any insight on how a company like this would even use $620m?

Today 1password is largely a product for tech people. Nobody around me outside tech circles is using a password manager, at all. They have the whole world to conquer! I can envision them (sadly) bought by a larger actor in a few years, at a huge valuation.

That's funny, I only know 1password as that enterprise password manager that no nerds use, only normal people that work for not completely tech-unsavvy companies.

I don't know anyone that uses 1password privately.

Re: 1Password Has Raised $620M

#49

Post by qeternity »

scarfacedeb wrote: post #22

They're a paid service. Why do they need so much extra funding?! There's definitely going to be a feature creep and annoying changes. Time to consider the alternatives again :(

> Why do they need so much extra funding?!

They've also (supposedly) been profitable since inception. It's likely that this round has a significant secondary, which means they're just cashing out part of a profitable business.

Re: 1Password Has Raised $620M

#50

Post by fxtentacle »

"1Password Has Raised $620M"

Ah fuck. They now need to grow at any cost to earn all that money back. And they'll throw their users under the bus, if they have to, because it's either grow like a unicorn or go bust.

Also, I sincerely have no clue how a password manager could be so expensive. Last time I checked, the excellent KeePassXC was still free open source and developed by volunteers in their free time. How come 1Password needs the equivalent of 7750 years of $80k annual salary to build the same?

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