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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

#221

Post by NegativeLatency »

markdown wrote: post #176
turc1656 wrote: post #165

Earlier quoted context omitted.

They might have great software - I don't know. But personally I absolutely refuse to use a paid option for a service of this type. There's just too much risk. What happens if my credit card expires and I forget to update/pay? Or I get hospitalized suddenly and there's a similar payment issue? Is my account just closed and everything deleted? Then there's the risk of me putting everything in there and them jacking up…

> What happens if my credit card expires and I forget to update/pay? I paid for it once and then used it for years and years without updating. After a few years the browser extension stopped working (was no longer compatible with current browsers) so I decided to buy again. By this time they'd moved to a subscription system and I have no idea how it works. It used to be simple... there was an app, and if you stored t…

There’s still a stand-alone app. Just upgraded a couple of weeks ago.

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

#222

Post by fred_is_fred »

tumblen wrote: post #207
tolmasky wrote: post #189

1Password needs to rename their service. I have told non-technical people "oh you should really use 1Password", have have them respond "Oh I do!", only to later find out they meant they use "one password" for every service, the exact opposite of the right thing to do! It is seriously some "Who's on First?"-level bullshit that leads me to have to be incredibly meticulous and careful when recommending their product. Im…

Great point that I hadn't thought of, but is so true! It communicates ok in text, but verbally not well at all. Maybe they can rebrand to "123456"

They should call it hunter2 of course.

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

#223

Post by megous »

swlkr wrote: post #20

I moved away from 1password when they switched from license to subscription pricing. There's nothing wrong with subscription pricing, especially when paired with cloud syncing. Bandwidth and cloud storage aren't free and the app is definitely worth the $2.99/mo. It was a great move for them, just not for me since I don't sync my passwords over the cloud.

> Bandwidth and cloud storage aren't free...

I don't use 1password, but I that's where the costs are.

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

#225

Post by matt_the_bass »

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.

I was surprised too at those values. But then realized that is only about 30,000,000 paying users. Yes that’s a lot of people. But maybe they can get to that many world wide.

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

#226

Post by the_narrator »

chucktorres wrote: post #41
bashy wrote: post #27

Earlier quoted context omitted.

I believe they still support buying a single license from within the app.

The process is increasingly convoluted to figure out. I'm still clinging on to their 1Password 6 license and it's now broken in Safari on Catalina. Life goes on.

I use 1Password 7 and only use a local vault (synced across devices with Resilio Sync). There is no reason you have to pay for a subscription if you don't want to.

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

#228

Post by lotophage »

ummonk wrote: post #154
ghshephard wrote: post #31

This isn't really a typical Venture funding, and is definitely not a "Series A". Traditionally, at this point, 1Password would probably have just gone Public, without any need for venture funding. But, why go to the hassle of doing that when you can get most of the same benefits ($$$) without any of the pain (public reporting, SOX, etc...). The VCs at this point would be happy with a 3-4x return, because the risk is…

Who is “everyone”? I imagine most people are just using Chrome or iCloud for personal password management.

Most people I know who use password managers beyond Chrome/iCloud use LastPass. All the companies I have worked for in the last 7 years have used it too.

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

#229

Post by jonathankoren »

ramphastidae wrote: post #123
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…

You’re probably being downvoted because of this statement, which is blatantly wrong: > The only reason they went to the cloud is because most people were buying one copy and sharing it with multiple people. It’s cloud-based because the majority of password management users want automatic cross-device updates without setting up their own server.

That’s why you create a free Dropbox account or just use your free iCloud account. This is even what 1Password used to recommend as part of its setup, if I remember correctly.

I’d it was simply storage, the. It would be an add on, but it’s not. It seems like it’s more of a strategy to increase cash flow by converting to ongoing subscriptions instead of one time purchases. This is the same motivation that switched MS Office and Photoshop over to subscriptions. There’s no compelling reason to upgrade, so you get people to fork over a credit card and forget about their reoccurring charge. Cash flow becomes more predictable and possibly increases as well. This why service contract / subscription businesses are popular among investors.

I don’t blame them for trying it, but let’s not pretend this is good for users.

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

#230

Post by nodesocket »

ghshephard wrote: post #31

This isn't really a typical Venture funding, and is definitely not a "Series A". Traditionally, at this point, 1Password would probably have just gone Public, without any need for venture funding. But, why go to the hassle of doing that when you can get most of the same benefits ($$$) without any of the pain (public reporting, SOX, etc...). The VCs at this point would be happy with a 3-4x return, because the risk is…

> companies at this level of maturity, profitability, market dominance, and growth are highly unlikely to fail

What happens if Apple implementes their own native password manager into macOS and iOS? I know I would switch to Apple's native assuming it worked as well as 1Password.

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