How will LastPass stay alive?

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How will LastPass stay alive?

Postby MxxCon » Fri Aug 22, 2008 5:29 pm

If you are offering this service for free, how will you maintain your service?
MxxCon
 
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Re: How will LastPass stay alive?

Postby sameer » Sat Aug 23, 2008 5:50 pm

Hi MxxCon,

Thanks for your question.

Before answering it, I'de first like to tell you a bit about the founders of LastPass.
First, we're not a "fly-by-night" operation and you can read our bios at https://lastpass.com/aboutus.php.
We're a group of individuals who have been very successful at providing large scale technology solutions with a public footprint to Fortune 1000 companies.
We strongly believe that browsing the web can and should be easier and more secure.
So much so, that we're placing our reputations and livelihoods at stake.

Currently our focus is on:
1) Doing the right thing
2) Perfecting our existing offering
3) Growing our product by listening to our users

The most important of these is "Doing the right thing".
We dont want to tie users into our offering. Rather, we hope that users use LastPass because they feel it's the best solution.
We want our users to feel at ease knowing that their data is secure and that THEY HAVE CONTROL OVER THEIR DATA.

For these reasons:
- we dont have or want access to your data
- we want to respect your privacy and go out of our way to try not to collect Personally Identifying Information (we dont even ask you to verify your email address)
- you can export all of your data at any time with a single click (EVEN IF YOU'RE OFFLINE!)

Now to your question about our revenue model.
Our thinking is that if end web users find that LP makes their life easier and more secure,
then business should as well - both for their employees via a single-sign-on solution as well
as for their customers who have to log in to their website to purchase goods.

Consider this:
In a three-month sample, 4.28% of Yahoo users forgot their password - roughly 2.5 M people.

--- http://research.microsoft.com/~cormac/P ... ww2007.pdf

It's stats like this that make us confident that after perfecting a free consumer solution,
a for-pay corporate edition would be wildly successful.

If there's anything further we can do to increase your comfort level we would love to hear it.

Thanks for using LastPass!
sameer
sameer
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Location: Toronto, Canada

Re: How will LastPass stay alive?

Postby Icy Mt. » Wed Jan 07, 2009 6:10 pm

Since I simply can't do without LastPass at this point, I was looking around for the answer to this question. I was certainly hoping that you weren't using the "pusher" model. You know: get 'em hooked and then make 'em pay.

Thank you so much for this answer. You are going to be wildly successful selling this product to corporate entities. I know of several occasions at ever company that I have worked for where the wrong person got into the wrong place due to really secure passwords that were written on a post-it note and stuck to the bottom of the middle drawer, right under the keyboard.

Hallelujah, I now have "The last password manager you'll ever have to install."
Icy Mt.
 
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