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1Password Has Raised $620M

blog.1password.com

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Re: 1Password Has Raised $620M

#321

Post by halostatue »

baryphonic wrote: post #111
fxtentacle wrote: post #50

"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…

> 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. Because 1Password is easy enough to use that my wife and I can share a family plan without her getting frustrated. If one of us has a login the other needs, we can easily share it. When I evaluated KeePass, the Wife-Accep…

My wife and I have used 1Password for years.

I have, since the family plan was first introduced, also gotten my aging parents on the plan (so my brother and I — both _far_ from where my parents live — can assist when required) and my brother.

My wife has shifted from merely using 1Password to advocating the use of password managers in general and 1Password in specific (she had a letter read by Peter Mansbridge on his podcast a couple of months ago where she did exactly that).

Re: 1Password Has Raised $620M

#322

Post by qbasic_forever »

dilap wrote: post #104
fxtentacle wrote: post #50

"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?

Keypass + Syncthing to get the database on all your devices. This combo has worked flawlessly for me for over 5 years now. I sync to all kinds of devices too including android phones.

Re: 1Password Has Raised $620M

#323

Post by ojilles »

casenjo wrote: post #126
tempodox wrote: post #46

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 subscrip…

Unfortunately yes. You'll still be able to use your license but once that version becomes incompatible with your OS you won't have a choice but to upgrade. I'm disappointed I won't be able to keep the Dropbox sync in 1Password 8. They did have this survey to gauge interest in self hosting it: https://survey.1password.com/self-host/

Filled it out, likely not to move any needles, but at least I did a thing. Thanks Casenjo for pointing out the survey.

Re: 1Password Has Raised $620M

#324

Post by hodgesrm »

xmorse wrote: post #250
hodgesrm wrote: post #200

Earlier quoted context omitted.

Alternative view: I'm glad to see 1Password obtain abundant financial backing. I use 1Password personally and at my employer. It's really good. I won't switch as long as they keep it that way. Seems as if they have enough money to do that regardless of what happens in the market. p.s., How is this really different from going public? I'm sure they considered that option. Either way you are answerable to investors.

What about being profitable? If you need 620M to keep the company alive what will happen next time?

It's not enough to be profitable (which they claimed to be in 2021). But even if they are profitable, it's unlikely they generate a lot of cash. For a secure future you also want a nice pot of cash to be able to make investments and to weather dips in the market.

Re: 1Password Has Raised $620M

#325

Post by Someone »

theturtletalks wrote: post #89
cstross wrote: post #64

Earlier quoted context omitted.

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.)

I long hoped Apple would buy out 1Password and include it in their iCloud+ subscription.

Apart from “works on stuff you didn’t buy from Apple” (a feature that I think isn’t in Apple’s interest to support well), what major features does it have that keychain syncing over iCloud doesn’t already have, or could easily add?

Re: 1Password Has Raised $620M

#326

Post by rcarmo »

drcongo wrote: post #238
rcarmo wrote: post #206

Friendly reminder that I have a list of alternatives here: https://taoofmac.com/space/apps/1password (I am now using Secrets while trying out iOS-friendly KeePass implementations)

Secrets was my favourite out of every password manager I tested, it's like 1Password before they started removing core functionality and implementing useless features requested by someone in marketing. It's only missing the ability to have shared vaults which sadly is key to my needs.

And for me, a Watch app :)

Re: 1Password Has Raised $620M

#327

Post by xfz »

fxtentacle wrote: post #50

"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…

> 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.

Agreed, an outbreak of featuritis is almost guaranteed. The core product works well for the job intended, but I don't want to be bothered with an expanding scope and the inevitable spam promoting the features that I don't really need.

Re: 1Password Has Raised $620M

#328

Post by noirbot »

cooperadymas wrote: post #255
noirbot wrote: post #85

Earlier quoted context omitted.

I mean... that seems fine? Taking a consumer product and making a business version of it feels like a totally ok way to grow a company that already has a stable product that people like. Them making new features you don't use doesn't mean they're going to break or diminish the stuff you do use. Sure, they could mess it up, but any company or open source project can mess everything up.

When Crashplan did this, they removed their home offering and completely dropped a large portion of their user base.

Sure, but I'd be surprised if Crashplan was operating their home offering at a profit beforehand and just went "eh, we don't need money". 1Password seems to have a totally viable consumer market that's making them money without all that much work on it. It would seem weird for them to kill a golden goose.

Re: 1Password Has Raised $620M

#329

Post by Sohcahtoa82 »

EGreg wrote: post #268
fxtentacle wrote: post #50

"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…

Why is it that whenever intrinsic, usual operations of capitalism are described (which happen 99% of the time) such as… 1) whenever VCs invest in shares of a project 2) they tend to subsidize money-losing unit economics to “reduce friction” resulting in attempts to lock-in people and monetize their attention later 3) when the VCs later dump it on the public, the company has to now answer to wall street shareholders a…

I don't see how cryptocurrency solves any of the problems. Items 1-4 would still exist. The only difference is that the corporations would be funded with ETH/BTC/DOGE/whatever rather than US Dollars.

Re: 1Password Has Raised $620M

#330

Post by NoThisIsMe »

fxtentacle wrote: post #50

"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…

I think BitWarden is a better comparison -- it's SaaS (and thereby dead simple to get set up w/ cloud sync), but it's reasonably priced with a solid free tier, and open source to boot.
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