LastPass, the popular password manager, is shutting down its doors on Sept. 30. But the price isn’t going down. In fact, LastPass is actually increasing its prices by 5% each month. Why? Because LastPass is using a new algorithm to calculate its prices, which means that the company is making more money from users by charging more for their services. This isn’t a good thing for users who are already struggling to afford to keep their passwords safe and sound. And it’s not good news for businesses that rely on LastPass as their go-to password manager.
While it’s interesting that LogMeIn is making LastPass into its own company (perhaps to get away from the negative attention it received when it first purchased the password manager), what really matters is how this will change the experience for the average LastPass subscriber. By the looks of things, not much will change.
In a blog post, LogMeIn CEO & President Bill Wagner said:
So it sounds like LastPass will get better customer service and faster updates, but the actual day-to-day usage will remain more or less unchanged. And of course, there’s no mention of the price dropping to where it was before LogMeIn took over, so users who were hoping to save some money are going to be disappointed.
Wagner also said, “Don’t worry — there are no changes to your account or data in your vault. This is the same great product, now with even more focus on keeping your data safe.”
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