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1Password Has Raised $620M

blog.1password.com

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Re: 1Password Has Raised $620M

#61

Post by shiftingleft »

SllX wrote: post #40
yokoprime wrote: post #16

Earlier quoted context omitted.

Ok, care to explain your viewpoint further?

1Password is a SaaS utility that provides a tool for generating and storing login info and other sensitive information. To me; that’s immensely valuable, but it’s solved for most by a combination of just using the same passwords or, on iPhones, iCloud Keychain. Now some folks have dumped the better half of a billion into a tool I pay about $35/year for and is basically feature complete. They’ll want a return on their…

> but it’s solved for most by a combination of just using the same passwords

That's not what I'd call a "solution"

Re: 1Password Has Raised $620M

#63

Post by nlh »

qeternity wrote: post #49
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.

Exactly. An increasingly common thing lately is what’s effectively a “private IPO”. That’s what this sounds like - liquidity for investors / staff, and ownership to a small cadre of professionally managed funds vs. the Wild West open markets.

Re: 1Password Has Raised $620M

#64

Post by cstross »

bombcar wrote: post #5

`But we don’t just want to keep up; our goal is to push the envelope and explore beyond the boundaries of traditional password management.` Hmmm, sounds like the time to migrate may be sooner than I'd hoped.

Sounds like they've noticed both macOS and Windows getting integrated cloud-based password management capabilities and feel the need to branch out in order to stay one jump ahead of irrelevance.

(Disclaimer: I'm a satisfied 1Password customer. Just noting that their competitive edge is wearing razor-thin these days.)

Re: 1Password Has Raised $620M

#65

Post by simon1573 »

germinalphrase wrote: post #45

Has anyone migrated easily between password managers? Manually entering my (hundreds?) of unique logins/passcodes would be quite a chore.

Bitwarden is a really nice password manager. It can import from 1Password: https://bitwarden.com/help/article/import-from-1password/

Re: 1Password Has Raised $620M

#66

Post by WORMS_EAT_WORMS »

This on the surface seems like a ton of money… but I don’t know anything about this level of funding / valuations so who knows.

I love 1Password and use it for business and for personal. I recommend it to family and have migrated many people to a more secure setup as happy paying customers. Shared vaults for families are so important for emergencies.

It’s expensive though.

It doesn’t provide a quick way to share a URL with a client that isn’t a PITA.

The interface could be prettier and make more sense. Like why is the “new” button almost a secret location and barely visible.

Enabling two-factor with it is the absolute BEST but was buggy setting up. No simple iOS integration either.

There hasn’t been any super “major” updates in like 2 years to functionality (despite what blog boasts)

List goes on but it’s the best for now.

I can’t justify paying more. So hopefully there huge funding plan isn’t to squeeze little folk and is more for big business.

If Apple just went a little bit further with its manager (or even Google) I’d probably jump ship.

Re: 1Password Has Raised $620M

#67

Post by SllX »

shiftingleft wrote: post #61
SllX wrote: post #40

Earlier quoted context omitted.

1Password is a SaaS utility that provides a tool for generating and storing login info and other sensitive information. To me; that’s immensely valuable, but it’s solved for most by a combination of just using the same passwords or, on iPhones, iCloud Keychain. Now some folks have dumped the better half of a billion into a tool I pay about $35/year for and is basically feature complete. They’ll want a return on their…

> but it’s solved for most by a combination of just using the same passwords That's not what I'd call a "solution"

Neither would I but they do it anyway. I’ll convince anyone I can to just pull the trigger on 1Password, but not many do.

Re: 1Password Has Raised $620M

#68

Post by beart »

germinalphrase wrote: post #45

Has anyone migrated easily between password managers? Manually entering my (hundreds?) of unique logins/passcodes would be quite a chore.

Bitwarden has an import option that will pull from a lot of other password managers. However, it definitely isn't perfect.

Re: 1Password Has Raised $620M

#69

Post by cianmm »

Chris2048 wrote: post #27
bombcar wrote: post #5

`But we don’t just want to keep up; our goal is to push the envelope and explore beyond the boundaries of traditional password management.` Hmmm, sounds like the time to migrate may be sooner than I'd hoped.

I really hope this means new product offerings with no impact on existing products, rather than "fucking with the product b/c it doesn't make us enough money".. which I'll dub corporate Marak syndrome..

I think of it as Evernote Syndrome. Take a perfectly great app and then slowly add nonsense on it until it's slow and bloated.

Re: 1Password Has Raised $620M

#70

Post by gizmo »

620m at a 6.8bn valuation is staggering. If they IPO at 10bn in a year they need a plan by then to grow towards a 30bn valuation, otherwise doing an IPO makes no sense. That is unbelievably ambitious for a password app.

The founders are clearly willing to bet their company on their expansion plans. In the post they allude to expanding to the security space more generally. Curious to see this develop in the coming years.

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