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1Password Has Raised $620M

blog.1password.com

101–110 of 723 posts

Re: 1Password Has Raised $620M

#101

"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…

They were profitably bootstrapped for years and then chose the VC route, no clue why but perhaps the founders wanted a huge pay package.

Then things went downhill.

Re: 1Password Has Raised $620M

#102
post #12
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.

So that means what? My password manager is going to start crypto-mining, and share the profits with me? My password manager is going to report all the sites that I have stored passwords for back to the companies? Whatever the case may be, I'm sure it's going to turn out to be something completely worthless to me. Fortunately, there's always Keepass, which keeps plugging away doing exactly what it says on the tin.

Oddly enough 1Password could innovate productively here: use some market clout to push for a standard way for password managers to do automatic password rolling without user interaction.

Imagine a world where a standardized protocol let a company put out verifiable "we've been hacked notice" and my password manager would just take care of it next time I opened it (or throw a prompt or something).

Doubt this is going to happen though.

Re: 1Password Has Raised $620M

#104

"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…

Spot on. What's the best thing to migrate to?

Re: 1Password Has Raised $620M

#105

They will probably go Dropbox route. Dropbox used to be an excellent file sync cloud service with a robust support on many platforms. They did just one thing and did it well. Now Dropbox is positioning themselves as business-team-collaboration-streamlining-platform for everything whose software is balancing between poorly programmed malware and useless enterprise bloatware.

Did they have a choice? Companies like Google and Microsoft provide a package of file sync cloud service bundled with many other services, for the same or lower price. Most people/companies would find that a better deal.

No they probably didn't, because by getting almost 2B$ in funding they forced themselves to compete with MS and the likes.

Re: 1Password Has Raised $620M

#106

"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…

Because cloud and enterprise.

Sure, labour costs are expensive in our industry. But it's under-appreciated that once you need physical infrastructure, sales and enterprise support, that really tends to eat into your millions.

Re: 1Password Has Raised $620M

#107

"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…

Yep, this will go the same way as LastPass sadly. This kind of company must have a steady positive revenue stream from it's customers. If not, it is not reliable. They will not be paying this back any time soon.

Fine by me, 1password was too expensive to begin with. Sad to see they're wasting it.

Re: 1Password Has Raised $620M

#108
post #104

"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…

Spot on. What's the best thing to migrate to?

No post body was provided.

Re: 1Password Has Raised $620M

#109
post #83
post #77

Earlier quoted context omitted.

I really love an alternative that does these: 1. native app (no bullshit JS based) for speed 2. the same keybindings CMD+\ or Option+CMD+\ to fill in or pop up the menu 3. sync with icloud 4. not look like total shit (ie. lastpass) Do these basic things and I think you can easily steal 1pass users.

Apple is so close with Keychain, I feel if they spent a bit a time on the UI of it and offered some plugin capability it'd be perfect.

I found Keychain quite horrible. Everything is or at least felt just too abstracted away so that I don't feel in control of my secrets. Might have been just the UI though. And then it's obviously not crossplatform by default. Sync your password database between your Android phone and Mac? Nope. So it's another step into vendor lock in.

Re: 1Password Has Raised $620M

#110
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.

You can never trust cloud-hosted password managers..

Maybe you can't. Everybody has their own risk tolerance, but at some point, everybody's going to have to draw a line. Maybe you're only storing passwords for local services, but almost all of the credentials in my password manager are for services run on some cloud. Even then, did you evaluate all of the code for each of those services? How about the compiler code or the chips? Dell shipped out machines with a hardware trojan in 2010.

I have separate instances for work and personal accounts, so one breach wouldn't affect the other. Since my passwords are distinct, the number of accounts that would actually be useful to them is minimal, and fraud response is a pretty important metric in deciding what companies I do important business with. Identity theft is a problem, but all of this is probably more likely to be leaked in some other database, like the Equifax hack, than through an account compromised in a password manager cloud storage breach.

My password manager being compromised would indeed be a huge time suck, but I don't think the long-term consequences would be any more severe than a few key individual accounts that are probably even more vulnerable. I think things like coordinated attacks where they social engineer their way through 2FA— which have been seen in the wild— to present a greater real-world concern.

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