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Bitwarden raises $100M

bitwarden.com

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Re: Bitwarden raises $100M

#241

Post by dmix »

NickHoff wrote: post #10

Bitwarden already does one thing well. It's everything I'm looking for - open source, costs money but not much ($10/yr), 2FA, clean interface. I'm happy for the new investment, but I hope they don't start adding new things just for the sake of growing. Also - to the people who analyze funding rounds - $100M sounds like a huge amount to me. Why would a password manager need so much money?

The interface could use a lot of work: ie search for cards and logins should not be separate. It also visually doesn’t look great.

Re: Bitwarden raises $100M

#242

Post by Tijdreiziger »

MaKleSoft wrote: post #125

If you're a Bitwarden user and this doesn't worry you, you haven't been paying attention to the history of almost every company that has accepted VC funds. It doesn't matter how well intentioned the founders are - once you accept that kind of money, it's not your product anymore. You are now in the business of making money, nothing else, and those skewed incentives will start bleeding into their product and business…

Have you undergone a security audit like Bitwarden? Why would I trust you instead?

I'm (casually) looking to move off LastPass. Padloc looks pretty good, but I'm hesitant to go with an 'unproven' solution.

Re: Bitwarden raises $100M

#243

Post by GekkePrutser »

noirbot wrote: post #172
GekkePrutser wrote: post #43

Earlier quoted context omitted.

I don't really want them to grow. Growing usually means overinflated expectations and when they aren't met by the new products they will try to retrieve the shortfall from their existing customer base with additional monetisation, driving them away in the process. I hope it won't go this way here but such a cash buyin is usually the start of a difficult time. > $10/year customers are completely irrelevant to a compan…

When 10/year is often less than .01% of even a junior developer's salary with benefits, then yea, that does kinda mean we can't have nice things, if nice things require a few devs to implement. We've all gotten so used to getting things where the VC discount was already fully priced in over the last decade that we're deeply conditioned to expect everything to be sold at VC subsidized prices, which it turns out isn't…

Well, the thing is, we have nice things now. I don't think most bitwarden users are screaming for new features. Simply continuing as they are with current staffing would be preferable to risking the farm with a big new product.

And the kind of user that picks bitwarden over LastPass or 1Password is not the kind that needs a ton of support.

Re: Bitwarden raises $100M

#244

Post by InTheArena »

radiKal07 wrote: post #123

Any Apple-devices users here? Why would I use this instead of Apple built-in password manager?

I tried bitwarden, and went back to 1Password. My ecosystem needs to be a bit independent for apple, just in case Apple starts acting like google, and locking users out of their accounts forever. The apple keychain has a really awful interface (surprising for apple) and family management is poor.

Re: Bitwarden raises $100M

#245

Post by serial_dev »

Gasp0de wrote: post #201
MaKleSoft wrote: post #125

If you're a Bitwarden user and this doesn't worry you, you haven't been paying attention to the history of almost every company that has accepted VC funds. It doesn't matter how well intentioned the founders are - once you accept that kind of money, it's not your product anymore. You are now in the business of making money, nothing else, and those skewed incentives will start bleeding into their product and business…

Bitwarden is also open source and self hosted. If they should ever make their product not free, I can just keep running the last version and fork it to further improve it together with other people, can't I?

You can, but will you?

Re: Bitwarden raises $100M

#246

Post by InTheArena »

Sytten wrote: post #150

Ho the sweet irony of people praising them over 1password not two weeks ago. Queue the typical HN, "I switched from Bitwarden to X" in a couple of weeks.

It's interesting to see the tone change. Some similar points being rasied, but without the "1Password is the anti-christ" tone of previous discussions.

Re: Bitwarden raises $100M

#247

Post by Tijdreiziger »

bborud wrote: post #152

I switched to Bitwarden when LastPass started using silly tactics to make customers pay. I didn't switch because of the price - the service pricing of Bitwarden was a pleasant surprise. I switched because I lost all trust in LastPass. Managing credentials and sensitive information is all about trust. The second I lose trust in that kind of service, I don't just stop using it, I will most likely never even consider co…

Ugh, I'm paying for LastPass because I haven't gotten around to switching to Bitwarden yet. They list a monthly price, but they actually charge you annually, so you're essentially locked in for a year (if you want to make the most of your money).

Re: Bitwarden raises $100M

#248

Post by ndand »

javajosh wrote: post #144

That is a LOT of money. $100M. That's enough money for ~50 people to live on $100k/year for the rest of their lives. You could pick 50 thinkers, scientists, artists and say "hey you never have to work again, just do your thing". But instead you invest it in a startup that will almost certainly burn it up in a couple of years of 7 figure salaries for execs and fail. What a waste.

Not for the rest of their lives. 50 people can live on $100k/year for 20 years.

Re: Bitwarden raises $100M

#249

Post by eco »

JshWright wrote: post #179
ensignavenger wrote: post #137

Earlier quoted context omitted.

I find that the essayist way to handle backup keys is with a printout of 10-20 pre-generated auth codes, which go in my safe. Much easier than having a backup hardware key I have to remove and then replace from my safe, each time I need to add a new service service.

Which is great if you have a printer (and are near it when you're signing up for the account, and remember to do it, and remember to put it in your safe, etc...). Just because it's the easiest way currently doesn't mean there isn't substantial room for improvement in the usability of passwordless systems. Most users aren't going to go to the trouble of printing something out like that.

You can also use a pen though your point on ease stands.

Re: Bitwarden raises $100M

#250

Post by WhyNotHugo »

MaKleSoft wrote: post #125

If you're a Bitwarden user and this doesn't worry you, you haven't been paying attention to the history of almost every company that has accepted VC funds. It doesn't matter how well intentioned the founders are - once you accept that kind of money, it's not your product anymore. You are now in the business of making money, nothing else, and those skewed incentives will start bleeding into their product and business…

Bitwarden probably isn't worth 100M in it's current shape, and investors will want their money back (plus profits!). This means things have to change.

Change how exactly? More money needs to flow.

VC investments: a mechanism where the rich invest their spare money on other in order to extract more wealth for themselves.

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