Tandlægerne ved tordenskjold frederikshavn

1.

And we had to make that decision early on. And certainly I got to take advantage of that when I joined bit warden and made a major focus, our licencing scheme, Kyle had already set it up pretty well, it’s most of the code is under GPL. But the server is under a GPL. It’s it’s the a GPL licence, which is very restrictive for others who want to run the code as a service unless they want to open source everything about the service that they run, which would be all the adjacent code at Amazon, for example, in your in your example.

And I like that stage. This focus stems from the power law distribution of returns – only companies addressing massive markets can generate the outsized returns necessary to offset the numerous failures in a VC portfolio.

Team evaluation. VCs assess founding teams based on their unique fit for the opportunity, often looking for:

• Founder-market fit: Relevant experience or insights
• Leadership potential: Ability to attract talent and resources
• Adaptability: Willingness to pivot based on market feedback

Product and go-to-market strategy. While important, product details are often secondary to market size and team quality in early-stage investments.

What’s the next chapter of bitten Warden look like?

Michael Crandell 36:10 
Well, we got such a great funding in this round that one of the benefits is we don’t need to focus much on fundraising for the foreseeable future.

So we’ve really doubled down on an enterprise offering that’s very compelling, and and ahead in the market. And there’s lots of opportunity for us to continue to invest in talking to those people more finding out how we can help them finding out how we can help grow their their footprint within their company so that more people are protected by password manager, or secrets management moving forward, we’re going to look at expansion into other adjacent areas.

Luckily, now it’s opening up. It’s really we’re focused on consumer and business, not or business. Today, but there’s room to do more and more there alongside the password world. And, you know, as in the cloud computing market, there’s, there’s one big leader, but as they said early on at Amazon, it’s not going to be a winner take all market, there’ll be many players, that Warden is increasingly significantly differentiated against the competition, we are different, we’re different by being open source, we’re different by all the investment we’ve put in our enterprise version.

So we’re going to invest also in the passwordless space. So you’ve just raised 100 mil Series B, you haven’t refreshed in the bank out, and there’s a lot of things you could do with it, you could spend it on the go to market, you could spend it on product, you could spend it on officers tell us a little bit about the use of funds here, as there are so many options out and

Erasmus Elsner 25:56 
we’re sort of deploying it.

Michael Crandell 25:58 
So of course, we’re going to invest in the product via the product and engineering teams, the people who build out new features, new capabilities, we are working on a new product called Secrets manager that does for developers What password management does for end users.

You can find it on bitwarden.com events, or just go to bitwarden.com.