JOURNAL ARTICLE

1Password Founders Sell a $75 Million Stake to Utah Jazz Owner's VC Fund.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Stone, Jeff 3 of 3

Abstract

The article focuses on the sale of a $75 million stake in 1Password, a Toronto-based password manager and digital security firm, to the Halo Fund, established by Utah Jazz owner Ryan Smith and Accel partner Ryan Sweeney. This investment is part of a larger $100 million secondary sale, maintaining the company's valuation at $6.8 billion. The transaction aims to provide liquidity for the founders and long-tenured employees, with the company also preparing for an initial public offering in 2024. CEO David Faugno emphasized the company's growth and profitability, indicating that a public offering will occur when it is strategically appropriate. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/10, pN.PAG
  • Document Type:Article
  • Subject Area:Sports and Leisure
  • Publication Date:2025
  • Accession Number:188553049
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