- DocuSign witnessed a significant boost in its shares, surging up to 15% and closing with a 12% gain on Friday following reports that the e-signature software company is exploring a potential sale. The talks are in early stages, as reported by the Wall Street Journal, citing sources familiar with the matter. DocuSign has not provided an immediate response to requests for comments.
- Despite a remarkable rebound this year, with a 16% increase in 2023, DocuSign's recovery has been less sensational compared to its tech counterparts. The company faced a significant decline, losing almost two-thirds of its value the previous year. Having gone public in 2018, DocuSign experienced a boom in business during the pandemic as the demand for remote document collaboration technology soared. However, growth has decelerated since the economy reopened, and competition from Adobe and Dropbox persists.
Why it matters
A year ago, DocuSign appointed Allan Thygesen, a former Google executive, as CEO, succeeding Dan Springer. Shortly after, the company underwent layoffs. On March 10, the stock plummeted by 22% when DocuSign announced the departure of CFO Cynthia Gaylor and forecasted a single-digit quarterly revenue increase, marking a significant drop from the over 50% growth experienced during the Covid era.
