November 15, 2019
First off, let me say I love 1Password. I’ve been using it almost a year and it’s been great, no issues at all. I initially resisted having a password manager but after several hacks/breaches which meant having to change multiple passwords I figured it was time to make the jump.
Hearing that the company took money from VC, after 14 years of being a bootstrapped company gave me pause. Hopefully nothing changes, but honestly once you take OPM (other people’s money) things aren’t the same. Motivations change.
Specifically, I found these two quotes from the VC Firm Accel interesting:
“Overwhelmingly what we heard from so many people was that they loved the product,” Mathew added.” and
“It’s very unusual for a company to get to this sort of scale without taking any capital. We realized that if the company could get to this sort of scale organically, we can’t imagine what could happen if we pushed deeper into enterprise.”
It might be unusual, but it’s not surprising to me. Make a great product that solves a need and people will buy it.