Passwordbox Acquires Legacy Locker
PasswordBox has announced this morning that they have acquired Legacy Locker. Legacy Locker is a service that controls the inheritance of a person’s digital presence. Let’s say that you pass away with a PayPal balance, valuable domain names, a Bitcoin wallet, and/or other digital assets, then Legacy Locker will make sure that it gets sent to the appropriate inheritor.
Around 4 million Facebook users pass away every year and around 55% of their digital assets tend to go unclaimed, according to VentureBeat. PasswordBox is a free service that already had digital heir services, but Legacy Locker has more users and features.
PasswordBox launched in June of this year with 450,000 beta users. PasswordBox recently raised $6 million in funding led by OMERS Ventures and several Facebook executives. The two services will not be integrated though.
“Digital death is a growing pain point that most of us don’t want to think about, yet we are storing more and more of our lives online each day,” stated PasswordBox CEO Dan Robichaud said in a statement. “This acquisition of Legacy Locker … cements our position as the most comprehensive digital management solution on the market.”
The terms of the deal were undisclosed.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry