Mr. Robichaud’s, a Montreal entrepreneur who launched startup over the past decade, is going to set out a startup, PasswordBox Inc.,which aim at managing all of people’s passwords.
PasswordBox has raised $6-million from OMERS Ventures and several Silicon Valley investors, including Facebook eCommerce head Lee Linden. It is expected to obtain 10 million users within six months and the company is confident about the numbers of partnerships.
It is supposed to be a successful startup for the following aspects. First of all, the startup looks at “what’s bugging you” and it is like a painkiller for all Internet users, embracing a fabulous value proposition and high practical value. If this software is technically safe and reliable, it is bound to have numerous users without much advertising. Secondly, it has a lot of strong partnership that can offer great help. Third, it will not have very much rivalry for the reason that its user interface is easy to use and its proprietary computing engine enables the app to do one-click log-ins on more than 90 per cent of websites, compared to 70 per cent for competitors. So, hopefully, it could be a monopoly company.
However, the most different part is technology problem. The company promised that it would never gain access to the passwords. But the devices could be exposed to “malware” accidentally downloaded from the Net, which enables hackers to detect what users enter. It may lead to serious ethical problems.
