14 DAY TRIAL // Xmarks, the cross-browser bookmarking service that has been seeing a rough couple of months under the threat of closure, has announced that it has been acquired and that the service will live on in both free and paid form. LastPass, a company which provides a cross-platform password and auto-fill manager, will acquire Xmarks for an undisclosed sum.
"Today we’re excited to announce that Xmarks has been acquired by LastPass, makers of a leading cross-platform password manager. It’s a great opportunity that ensures the survival of Xmarks as the same service that you know and love," the company announced on its blog.
"We’re also committed to keeping Xmarks free while implementing a viable long-term plan. Xmarks is transitioning to a 'freemium' business model, the same model that allowed LastPass to grow into a thriving, profitable business," the post explained.
"The browser add-on and the vast majority of what users have enjoyed remains free. Users can then opt to purchase Xmarks Premium," it added.
A freemium approach was floated after the initial closure announcement and, after a pledge from more than 30,000 people, this is the direction the new company is going with.
LastPass operates in the same way with the basic service offered for free and a premium version offered to subscribers. Xmarks users will be able to purchase a premium version for $12 a year. What's more, they can get both services for $20 per year.
The premium version of Xmarks will add support for Android and iPhone apps and exclusive features. For now, the two services will operate separately, but there are plans of creating an integrated product and service.
Xmarks is a bookmarking service with support for most major browsers. In September, the team announced that the company cannot continue as it has been unable to come up with a viable way of turning its 2 million user base into reliable revenue. Due to strong support from its users, those plans were reverted as the company looked for a solution, including a paid service or an acquisition.