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In Its First Funding in 14 Years, 1Password Raises $200M Series A

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Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#111

Post by sagichmal »

robszumski wrote: post #106
sagichmal wrote: post #102

Earlier quoted context omitted.

> Ever since they went to the cloud, I stopped using and recommending them to friends and family. The whole point of using a password manager is that the passwords I create and use on my {desktop, laptop, work machine, phone} are immediately and seamlessly available to me on all of the other platforms. As far as I know it is Cloud integration which enables this absolutely necessary and table-stakes functionality. Is…

I'm not in a rush to put the holy grail of my personal info into someone's cloud service that I can't manage or securely delete. I think that KeePass + [Dropbox,Google Drive,etc] is the best solution. You can easily get these files on to your phone for passwords on the go.

> You can easily get these files on to your phone for passwords on the go.

Something like 80% of the value prop of my password manager use is one-tap login (with FaceID) on mobile.

Handwaving this away is failing to understand the product and market at a fundamental level.

edit: literally a paper notebook with my passwords written in it is a better solution in essentially every dimension than a non-syncing password manager.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#112

Post by xenophonf »

robszumski wrote: post #106
sagichmal wrote: post #102

Earlier quoted context omitted.

> Ever since they went to the cloud, I stopped using and recommending them to friends and family. The whole point of using a password manager is that the passwords I create and use on my {desktop, laptop, work machine, phone} are immediately and seamlessly available to me on all of the other platforms. As far as I know it is Cloud integration which enables this absolutely necessary and table-stakes functionality. Is…

I'm not in a rush to put the holy grail of my personal info into someone's cloud service that I can't manage or securely delete. I think that KeePass + [Dropbox,Google Drive,etc] is the best solution. You can easily get these files on to your phone for passwords on the go.

This makes zero sense. You don't want to store passwords in the cloud, but you store your passwords in the cloud anyway!

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#113

Post by TheTaytay »

classified wrote: post #12

I immediately thought this is the worst possible news about 1Password. In order to let the investors cash in, they'll ruin a good product or pivot completely, like selling online ads.

I understand being somewhat cynical about acquisitions under certain circumstances, but expecting ruin or a pivot of this sort feels like quite a leap to me. Are there other examples of profitable SAAS companies, particularly ones with enterprise offerings, later pivoting to that extreme? I understand selling lots of ads happens after an Instagram acquisition. (They're buying eyeballs/attention after all.) But this feels like a totally different beast to me.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#114

Post by oe »

xenophonf wrote: post #112
robszumski wrote: post #106

Earlier quoted context omitted.

I'm not in a rush to put the holy grail of my personal info into someone's cloud service that I can't manage or securely delete. I think that KeePass + [Dropbox,Google Drive,etc] is the best solution. You can easily get these files on to your phone for passwords on the go.

This makes zero sense. You don't want to store passwords in the cloud, but you store your passwords in the cloud anyway!

A cloud you can control yourself.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#115

Post by AmericanChopper »

joshmn wrote: post #110

I'm happy for them, but I'm worried about what this means for the product and its future. They now need to hit $1BB or die trying. And most of the time that means die. Maybe they might have some life-changing enterprise thing up their sleeves. I don't know. We don't know. I'm wishing them well, I just am bracing for impact.

> They now need to hit $1BB or die trying

What are you basing this off exactly? The only case where failing to hit valuation targets can kill a company, is when the company is reliant on continued funding to operate. A profitable company is free to disappoint it's investors in any way it chooses.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#116

Post by xmprt »

sagichmal wrote: post #111
robszumski wrote: post #106

Earlier quoted context omitted.

I'm not in a rush to put the holy grail of my personal info into someone's cloud service that I can't manage or securely delete. I think that KeePass + [Dropbox,Google Drive,etc] is the best solution. You can easily get these files on to your phone for passwords on the go.

> You can easily get these files on to your phone for passwords on the go. Something like 80% of the value prop of my password manager use is one-tap login (with FaceID) on mobile. Handwaving this away is failing to understand the product and market at a fundamental level. edit: literally a paper notebook with my passwords written in it is a better solution in essentially every dimension than a non-syncing password m…

I definitely see the benefit of storing my passwords locally and not some single point of failure, but I also wouldn't ever claim it's simple or even a good solution. It does help me ease up on creating new account to places I don't need because I think about having to create and sync up a new password between my devices.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#117

Post by cj »

sagichmal wrote: post #102
bernierocks wrote: post #57

Earlier quoted context omitted.

If you asked me about 1password a few years ago, I would agree with you. Ever since they went to the cloud, I stopped using and recommending them to friends and family. I now use Keypss, which is free and doesn't require the cloud. The only reason they went to the cloud is because most people were buying one copy and sharing it with multiple people. It's a way for them to make more money, which is fine, but I really…

> Ever since they went to the cloud, I stopped using and recommending them to friends and family. The whole point of using a password manager is that the passwords I create and use on my {desktop, laptop, work machine, phone} are immediately and seamlessly available to me on all of the other platforms. As far as I know it is Cloud integration which enables this absolutely necessary and table-stakes functionality. Is…

1password had (maybe still has?) integrations with services like Dropbox where your vault would be stored on a 3rd party service like Dropbox to achieve the cross-device syncing your describing.

IMO this was the more secure implementation (assuming 1password was only storing fully encrypted files on your 3rd party cloud preference) - even if someone broke in your Dropbox, they can’t decrypt your passwords without your master pass.

An end-to-end cloud solution provided natively by 1pass is much more user friendly and easier, but requires putting an order of magnitude more trust in 1password’s security architecture (which of course is closed source).

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#118

Post by latortuga »

jliptzin wrote: post #50
ttul wrote: post #43

Earlier quoted context omitted.

This is so so true. I have tried them all. 1Password is the no-brain option that crushes all others.

I haven’t tried 1password, I have been using LastPass, would you recommend I switch?

Yes 100%. I was a lastpass user for years but it always had its quirks for me. I switched to 1P within the last year and it is miles better and "Just Works", everywhere. I or someone in my house use 1P on Ubuntu, Android, iPhone, and macos, and it is a seamless and wonderful experience.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#119

Post by atonse »

dajonker wrote: post #19
atonse wrote: post #17

Why? I mean, by all means they've always felt like a true bootstrapping success story (I'm a happy 1Password customer for many years). Why take funding and give up control of your company to an outsider now?

Because you can cash millions so you'll never have to work again for the rest of your life?

They've bootstrapped to hundreds of employees, suffice to say the owners are probably multi-millionaires by now.

Re: In Its First Funding in 14 Years, 1Password Raises $200M Series A

#120

Post by swozey »

munificent wrote: post #103
swozey wrote: post #30

I feel like I've spent an absolute fortune on 1password over the last decade. I'm pretty sure it was, what, $70 when I got it 6+ years ago? Now I'm paying monthly (2.99 or 4.99/mo x .. 3-5 years?) which is pretty ironic considering a lot of us initially left LastPass to go to 1pass because it was 100% offline (I'm aware you can do local vaults still). At least the QOL updates have been coming faster lately, especiall…

> I feel like I've spent an absolute fortune on 1password over the last decade. I'm pretty sure it was, what, $70 when I got it 6+ years ago? Now I'm paying monthly (2.99 or 4.99/mo x .. 3-5 years?) Our pricing intuition around software is so weird . That's $370 over six years. If you went to a theater and watched a movie alone every couple of months, you spent more on tickets than you did on 1Password in that time.

I mean one is giving me tons of entertainment and one is opening an encrypted file on my machine and has a lot of alternatives and was already considered overpriced. If you asked me 6+ years ago if I'd pay for $370 worth of 1password for 5 years I'd laugh you out of the room.

It's a lot easier when it's a monthly fee to get that money out of me.

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