After six years under the wing of LogMeIn, password manager LastPass becomes a private company again.
The popular password manager was acquired in 2015 by LogMeIn, software for taking over computers remotely. That company, in turn, was acquired two years ago by investment firm San Francisco Partners.
Now LogMeIn has announced that LastPass will once again be a separate company. “LastPass’ scale, tremendous growth and market leadership position and brand make it a perfect candidate to seize new opportunities as a standalone company,” Bill Wagner, CEO and chairman of LogMeIn, said in a statement.
The parent company says LastPass has grown by an average of 50 percent over the past three years. It has two million paying customers and thirty million users who have a free version. Most customers would be business customers.
Converting those users into paying customers remains a challenge. For example, you used to be able to use LastPass on both PC and mobile for $12 a year. That version later became free, but at the beginning of this year, the helm was changed again so that LastPass was free on one device, but you pay $ 36 per year for the full version.