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1Password Has Raised $620M

blog.1password.com

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Re: 1Password Has Raised $620M

#481

Post by qqqturing1 »

kfarr wrote: post #30
yokoprime wrote: post #16

Earlier quoted context omitted.

Ok, care to explain your viewpoint further?

Raising hundreds of millions of dollars for a built, profitable product with a tight scope and millions of users usually means the product scope will increase as part of their new remit to drive shareholder return. If people liked the existing tightly scoped product, and for password management simpler is better for many users, this investment indicates the product will necessarily move away from the existing use cas…

They will probably invest in business integration/sales. TBH we need more password management in this world and not less. Increasing scope in enterprise domain means reaching users who would otherwise just use post it's for the passwords.

Re: 1Password Has Raised $620M

#482

Post by nsm »

hcurtiss wrote: post #88

I don't know if anybody uses Edge like me, but I feel like people should know that Edge with Authenticator works VERY WELL for password management. It is very close to feature parity with Lastpass and 1Password, it's cross platform, and it's free. After something like eight years, we dropped our subscription to LastPass.

How easy is it to use with random notes/apps on mobile? Some reasons I prefer a non-browser manager: - On Android/iOS, 1P will integrate with the system password manager APIs to sign in to apps - I can generate/store arbitrary password-like things (SSH key passwords, secret question made up answers, 2FA backup codes) that are not associated with specific domains. At least in Chrome's default password manager there wasn't a way to do something like this.

Re: 1Password Has Raised $620M

#483

Post by wlesieutre »

koboll wrote: post #360
btown wrote: post #295

People thinking this is an absurd amount of money are sleeping on how 1Password is quietly positioning itself to become the ground truth storage solution for corporate secret management, across devops and non-technical groups alike. Given Hashicorp's market cap of 11B, and 1Password's narrative on how to become even more central to corporate use cases by being the storage layer for Vault deployments, it's a very reas…

Pretty typical for people here to be zoomed-in on the b2c side of a business because that's what they use, and fail to see the b2b side, the underwater mass of the iceberg.

I think people can see that this is targeting businesses, but they're not happy about that because they're non-business customers.

It doesn't bode well for the future direction of what has up to now been a good consumer-focused product.

Like how Dropbox has gone from "a folder that synchronizes your files" to "an electron app for having discussion threads about files" because that's what business customers want.

Re: 1Password Has Raised $620M

#484

Post by upbeat_general »

cactusmatt wrote: post #171
scblock wrote: post #86

Earlier quoted context omitted.

Exactly. Once you raise a bunch of VC money you've sold your actual business to vampires. From now on it's grow at any cost. Add bloat, feature creep, unrelated projects, cost increases, and probably user data mining and sales on top of it. How was their rather expensive subscription fee and large subscriber base not sufficient to continue operating profitably?

I don't know. Greed? I've been following the 1Password Saga for a while (long time user), and how they responded to the electron pushback seemed like they lost their initial vision and what made them "in touch" with their users like me.

Reading about it now, it feels like the electron move was a result of the VC money. With pressure to grow comes endless A/B tests, gimmicky features, etc and having too many different platforms means you need to split the work across more devs. Trying to match the extra functionality and have the same look is pretty difficult as a program grows.

That being said I hate that 1Password needs that. It’s just a password manager at the end of the day.

Re: 1Password Has Raised $620M

#485

Post by kitsunesoba »

rekoil wrote: post #426
samgranieri wrote: post #76

I really wish they weren't doing away with 1password classic and the native mac app. I like the fact I bought a license, that I can store the data on dropbox or icloud, and it works just fine. Yes, this is old news and sour grapes on my part. I just don't yet feel like migrating to bitwarden. I've been using 1password for 12 years since I saw it on a tutorial on peepcode.com. I actually taught my mother how to use it…

I don't even mind the subscription fee and cloud hosting personally, just make a kickass native app like they always had and I'll stay. If they force me to "upgrade" to 8 and it's not a native app then I'll just use something else like bitwarden.

Similar here, I don’t mind the subscription fee and even like that I can effortlessly pull my passwords from whichever device I need to at the moment. The new electron app is a mess though, even if its data layer is done in Rust. It feels like a cheap imitation of the old one with so many little details being wrong, along with the general sluggishness that comes with a “modern” web stack.

I’m not really happy with any of the other options either though. Bitwarden is stuck in the browser, and the various KeePass clients vary a lot in polish.

It seems a little ridiculous because the UI involved in this sort of app is trivial to build and make nice in practically any native UI toolkit released in the past 20 years. It’s just list views and text fields… I would’ve expected the hard part of building a password manager to be the functional bits, not the UI.

Re: 1Password Has Raised $620M

#486

Post by commoner »

mbesto wrote: post #477
sebastien_b wrote: post #439

Earlier quoted context omitted.

Because much like privacy, password security shouldn't always be only a premium option. Plus like the parent said, proprietary code is a deal break for lots of people.

> Because much like privacy, password security shouldn't always be only a premium option. So then who foots the bill? Password managers are the duct tape used to protect a user because we don't inherently trust application providers. > proprietary code is a deal break for lots of people Sort of. First, "lots of people" seems like "lots of people" because we're on HN. The wider population doesn't care whether your app…

Bitwarden does charge for certain features like TOTP support, organizations, and enterprise features. They manage to have subscription income while remaining open source, whereas 1Password chooses to keep its code closed source.

If you are saying that Bitwarden is worse because it offers a free plan, I disagree. It's nice that Bitwarden offers a security-audited* password manager to those who can't afford a subscription, who aren't ready to pay for one, or who don't have the means to make payments online. Unlike 1Password, Bitwarden is not pressured to deliver high returns to venture capital firms, and Bitwarden can focus on providing its product to its users at superior price points.

* https://bitwarden.com/help/article/is-bitwarden-audited/#thi...

Re: 1Password Has Raised $620M

#487

Post by bananapub »

hodgesrm wrote: post #200
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…

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.

yikes, this is a terrible take - $620m of capital means they are expected to become enormous and make huge returns, or go bust trying.

Re: 1Password Has Raised $620M

#488

Post by rekoil »

kitsunesoba wrote: post #485
rekoil wrote: post #426

Earlier quoted context omitted.

I don't even mind the subscription fee and cloud hosting personally, just make a kickass native app like they always had and I'll stay. If they force me to "upgrade" to 8 and it's not a native app then I'll just use something else like bitwarden.

Similar here, I don’t mind the subscription fee and even like that I can effortlessly pull my passwords from whichever device I need to at the moment. The new electron app is a mess though, even if its data layer is done in Rust. It feels like a cheap imitation of the old one with so many little details being wrong, along with the general sluggishness that comes with a “modern” web stack. I’m not really happy with an…

Right!? The hard part is integrating nicely with the OS, which is just not something that's in Electrons bag. The thing Electron "improves" for them is portability for the one thing that users really want to avoid interacting with. It's just such a confusing business decision in my eyes, and to be completely honest, part of the reason I'm looking at switching is literally that they are making a decision like this unprovoked when they have a great native app already, I just don't understand it and don't want to support a business making shit decisions like that.

Someone in this thread suggested Strongbox which looks very promising. I will stick with 1Password until they've decommissioned 7, and then make my decision whether to stay or not I think.

Re: 1Password Has Raised $620M

#489

Post by kolbe »

btown wrote: post #295

People thinking this is an absurd amount of money are sleeping on how 1Password is quietly positioning itself to become the ground truth storage solution for corporate secret management, across devops and non-technical groups alike. Given Hashicorp's market cap of 11B, and 1Password's narrative on how to become even more central to corporate use cases by being the storage layer for Vault deployments, it's a very reas…

I don't think anyone here is calling it a bad investment for the investors. We're calling it a bad event for the users.

Re: 1Password Has Raised $620M

#490

Post by sleepybrett »

rco8786 wrote: post #444
kmac_ wrote: post #365

Earlier quoted context omitted.

Well, Hashicorp stands on many legs and they don't have much competition in many areas as theirs solutions are pretty unique...

Their solutions are unique but the problems they are solving are not, they are in direct overlap with where 1P is going.

I've watched three different teams fail to get vault up and running in any kind of a sustainable way. If they could solve that problem and add a desktop client they could crush 1password in this space. Probably wouldn't hurt that tons of software engineers are absolutely pissed at their moves in the consumer space recently.
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