Docusign: Difference between revisions

{{Short description|American Technologysoftware Firmcompany}}

| name = DocuSignDocusign, Inc.

| logo = DocuSignDocusign LogoFull Color.svg

| image_caption = DocuSign headquartersHeadquarters in San Francisco

| key_people = {{ubl|[[Maggie Wilderotter]] ([[Chairman|chair]])<ref>{{cite news|title=DocuSign CEO Dan Springer steps down|url=https://www.cnbc.com/2022/06/21/docusign-ceo-dan-springer-steps-down.html |date=21 June 2022|publisher=CNBC|last=Bursztynsky |first=Jessica}}</ref> |Allan Thygesen ([[Chief executive officer|CEO]]) <ref>{{Cite web |last=Novet |first=Jordan |title=DocuSign names former Google executive Allan Thygesen as new CEO |url=https://www.cnbc.com/2022/09/22/docusign-names-former-google-executive-allan-thygesen-as-new-ceo.html |date=2022-09-22 |website=[[CNBC]] |language=en}}</ref>}}

| revenue = {{increase}} {{US$|2.5276 billion|link=yes}} (20232024)

| operating_income = {{decreaseincrease}} US$−8831.6 million (20232024)

| net_income = {{decreaseincrease}} US$−9774.0 million (20232024)

| assets = {{increasedecrease}} US$32.0197 billion (20232024)

| equity = {{increase}} US$6171.13 millionbillion (20232024)

| num_locations = 2115<ref name="DocuSign Contact Us">{{cite web | title=Contact Us | website=DocuSign | url=https://www.docusign.com/company/contact-us | access-date=20152024-0603-1621 | archive-url=https://web.archive.org/web/20240319033613/https://www.docusign.com/company/contact-us | accessarchive-date=20202024-0903-0319}}</ref>

| num_locations_year = 20202024

| num_employees = 76,336840 (20232024)

| footnotes = Financials {{asof|20232024|1|31|lc=y|df=US}}<ref name=10K>{{cite web |title=US SEC: Form 10-K Docusign, Inc. |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/12613330001261333/000126133323000050000126133324000045/docu-2023013120240131.htm |publisher=[[U.S. Securities and Exchange Commission]] |date=2721 March 20232024}}</ref>

'''DocuSignDocusign, Inc.''' is an American software company headquartered in [[San Francisco]], California, that allowsprovides products for organizations to manage electronic agreements with [[electronic signature]]s on different devices. {{As of|20192024}}, DocuSignDocusign has about 475,0001.5&nbsp;million clients in 180 countries.<ref>{{cite press release|titlename=DocuSign10K announces the DocuSign Agreement Cloud |url=https://investor.docusign.com/investors/press-releases/press-release-details/2019/DocuSign-announces-the-DocuSign-Agreement-Cloud/default.aspx |publisher=DocuSign |date=21 March 2019}}</ref> Signatures processed by DocuSignDocusign are compliant with the US [[Electronic Signatures in Global and National Commerce Act|ESIGN Act]]<ref name=ESIGN>[http://www.ftc.gov/os/2001/06/esign7.htm ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT] ''Federal Trade Commission'' June 2001</ref> and the European Union's [[eIDAS]] regulation, including EU Advanced and EU, Qualified Signatures.<ref>{{cite web |date=22 July 2016 |title=DocuSign makes digital signatures easy |url=https://www.docusign.com/how-it-works/electronic-signature/digital-signature |access-date=2 March 2020 |website=DocuSign |language=en-US}}</ref>

In April 2018, DocuSignDocusign filed for an [[initial public offering]]. At the time of the IPO, the largest shareholders were venture investment firms Sigma Partners, Ignition Partners, Frazier Technology Ventures, and former CEO [[Keith J. Krach|Keith Krach]] was the largest individual shareholder. None of the original founders are major shareholders.<ref>{{cite news|title=When DocuSign goes public, it could be worth over $3.8 billion — here are the biggest winners|url=http://www.businessinsider.com/biggest-winners-in-docusign-ipo-2018-4|access-date=21 April 2018|date=April 17, 2018}}</ref><ref name="ipoinvestors">{{cite news|title=DocuSign unveils IPO filing|url=https://techcrunch.com/2018/03/28/docusign-unveils-ipo-filing/|access-date=21 April 2018|publisher=TechCrunch|date=March 28, 2018}}</ref> The company went public on the [[NASDAQNasdaq]] on April 27, 2018.<ref>{{cite web |title=DocuSign, Inc. Common Stock (DOCU) Quote & Summary Data |url=https://www.nasdaq.com/symbol/docu |website=NASDAQ |access-date=27 March 2019}}</ref>

DocuSignDocusign was founded in 2003 by Court Lorenzini, Tom Gonser, and Eric Ranft.<ref>{{cite news|title=E-Signature Leader DocuSign Couldn't Find A Boss Two Years Ago. Now It's Worth $6 Billion After IPO.|url=https://www.forbes.com/sites/alexkonrad/2018/04/27/docusign-ipo|work=[[Forbes]]|date=April 27, 2018|last=Konrad|first=Alex}}</ref> Tom Gonser came up with the idea when he was a [[CEO]] at NetUpdate, a company he founded in 1998. Through its history, NetUpdate had acquired several companies, including an e-signature start-up in Seattle called DocuTouch that had been funded by Timberline Venture Partners, Bill Kallman and Jeff Tung with $4M. Timberline invested another $1 M1M in the merger into NetupdateNetUpdate.<ref name="DocGon">[http://www.internetnews.com/bus-news/article.php/411921/Online+Signatures+DocuTouch+Introduces+DocuSign.htm Online Signatures: DocuTouch Introduces DocuSign] ''Internet News'' July 11, 2000</ref><ref name="NetUp">[http://www.nationalmortgagenews.com/dailybriefing/2001_162/-394526-1.html?zkPrintable=true NetUpdate Buys DocuTouch] {{Webarchive|url=https://web.archive.org/web/20140108045716/http://www.nationalmortgagenews.com/dailybriefing/2001_162/-394526-1.html?zkPrintable=true |date=2014-01-08 }} ''National Mortgage News'' August 22, 2001</ref> DocuTouch held patents on Web-based digital signatures and collaboration. With internal support from Gonser, Lorenzini negotiated the purchase of certain DocuTouch assets from NetUpdate and started DocuSignDocusign. Gonser then left the NetUpdate Board to focus on DocuSignDocusign full-time.

The firm began sales in 2005 when zipForm, now zipLogix, integrated DocuSignDocusign into its virtual real estate forms. According to DocuSignDocusign, mock trials featuring licensed attorneys and judges highlighted the admissibility of DocuSignDocusign contracts in court based on encrypted audit logs of signature events, as well as the impossibility of changing contracts.<ref name="Mock">[http://www.docusign.com/blog/2009/07/10/work-smarter-with-a-tool-your-mom-can-use/ Work Smarter with a Tool Your Mom Can Use] {{webarchive |url=https://web.archive.org/web/20120707210947/http://www.docusign.com/blog/2009/07/10/work-smarter-with-a-tool-your-mom-can-use/ |date=July 7, 2012 }} Bui, An ''DocuSign'' July 10, 2009</ref>

In January 2007, Court Lorenzini stepped down as CEO and board chairman replaced as CEO by Matthew Schiltz,<ref>{{Cite web|url=https://www.businesswire.com/news/home/20070125005791/en/DocuSign-Names-Matthew-J.-Schiltz-CEO-President|title=DocuSign Names Matthew J. Schiltz as CEO and President|date=2007-01-25|website=www.businesswire.com|language=en}}</ref> who served in that role until January 2010.<ref name=":1">{{Cite web|url=https://www.bizjournals.com/seattle/blog/techflash/2010/01/docusign_taps_new_ceo.html|title=DocuSign taps new CEO|last=Cook|first=John|date=27 January 2010|website=Portland Business Journals|access-date=2020-03-27}}</ref> Steven King replaced Schultz as CEO<ref name=":1" /> and moved the corporate headquarters from Seattle to San Francisco. [[Keith Krach]] became DocuSignDocusign's chairman of the board in January 2010 and its CEO in August 2011.<ref>{{cite web|url=http://tech.fortune.cnn.com/2012/10/09/docusign-keith-krach/|title=Keith Krach: A dot-com CEO returns|work=Fortune|access-date=20 August 2015|url-status=dead|archive-url=https://web.archive.org/web/20170106104147/http://tech.fortune.cnn.com/2012/10/09/docusign-keith-krach/|archive-date=6 January 2017}}</ref>

DocuSignDocusign also began referring to its service as “eSignature Transaction Management”. By the end of 2010, the company handled 73 percent of the Saas-based electronic signature market with 80 million signatures processed.<ref name="80Mil">[https://www.pcmag.com/article2/0,2817,2365899,00.asp DocuSign Releases Updated Version of E-Signature Software] Hachman, Mark ''PC Magazine'' June 30, 2010</ref> [[Scale Venture Partners]] led an investment round of $27&nbsp;million in December 2010.<ref name="Scale">[http://www.xconomy.com/seattle/2011/01/28/washington-startups-see-spike-in-investing-dollars-in-december/?single_page=true Washington Startups See Spike in Investing Dollars in December] Kutz, Erin ''Xconomy'' January 28, 2011</ref>

DocuSignDocusign opened an office in [[London]], [[England]], in September 2011.<ref name="London">{{cite web |url=http://pevc.dowjones.com/article?pid=32&an=DJFVW00020110901e79200105&ReturnUrl=http%3a%2f%2fpevc.dowjones.com%3a80%2farticle%3fpid%3d32%26an%3dDJFVW00020110901e79200105 |title=DocuSign Opens First International Office, In London |last=Gage |first=Deborah |work=Dow Jones Private Equity & Venture Capital |date=September 2, 2011 |access-date=February 8, 2013 |archive-url=https://web.archive.org/web/20140108031009/http://pevc.dowjones.com/article?pid=32&an=DJFVW00020110901e79200105&ReturnUrl=http%3a%2f%2fpevc.dowjones.com%3a80%2farticle%3fpid%3d32%26an%3dDJFVW00020110901e79200105 |archive-date=January 8, 2014 |url-status=dead }}</ref> In the same year, DocuSignDocusign opened an office in [[San Francisco]] that now functions as its global headquarters.<ref>{{Cite web|url=https://moneyinc.com/docusign/|title=The Impressive Rise of DocuSign|last=Berman|first=Nat|date=2016-10-28|website=Money Inc|language=en-US|access-date=2020-03-27}}</ref>

DocuSignDocusign signed an agreement with [[PayPal]] in April 2012 that allowed users to capture signatures and payments in a single transaction.<ref name="PayPal">[https://thenextweb.com/insider/2012/04/11/paypal-partners-with-docusign-to-help-businesses-collect-signatures-for-online-payments/ PayPal partners with DocuSign to help businesses collect signatures for online payments] Brian, Matt ''The Next Web'' April 11, 2012</ref> Similar partnerships with [[Salesforce.com]]<ref name="Salesforce">[https://web.archive.org/web/20120707003836/http://www.reuters.com/article/2009/11/05/idUS146373+05-Nov-2009+BW20091105 DocuSigns Delivers Close it in the Cloud! Integrated ESIGN Solutions to Salesforce] ''Reuters'' November 5, 2009</ref> and [[Google Drive]]<ref name="Google">[httphttps://www.zdnet.com/blog/btlarticle/google-drive-kicks-off-with-docusign-integration/74276 Google Drive Kicks Off with DocuSign Integration] King, Rachel ''ZDNet'' April 24, 2012</ref> preceded the [[PayPal]] agreement.

In July 2012, ''[[Business Insider]]'' reported that about 90% of ''Fortune'' 500 companies had signed up to use DocuSignDocusign.<ref name="Finance">[http://www.businessinsider.com/keith-krach-docusign-future-2012-7 At DocuSign, Keith Krach Continues His Epic 16-Year Quest To Reinvent The Business World] Huspeni, Andrea ''Business Insider'' July 13, 2012</ref>

On January 10, 2013, DocuSignDocusign and [[Equifax]] announced a partnership to simplify electronic delivery of the Requests for Transcript of Tax Return Form 4506-T to the United States [[Internal Revenue Service]]. Under the partnership, Equifax allows lenders to use DocuSignDocusign to securely send requests to loan applicants. DocuSignDocusign and<ref>Helft, Miguel . "DocuSign raises $47.5 million, adds Mary Meeker to board," Fortune. Retrieved 24 March 2014.</ref> Equifax were among 14 firms that participated in a nine-month feasibility study of electronic signatures for 4506-T forms in 2011.<ref name="Equifax">[http://www.dailymarkets.com/stock/2013/01/10/equifax-and-docusign-help-the-irs-accelerate-forms-processing-with-esignature/ Equifax and Docusign Help the IRS Accelerate Forms Processing With eSignature] PR Newswire ''Daily Markets'' January 10, 2013 {{webarchive |url=https://web.archive.org/web/20140108032217/http://www.dailymarkets.com/stock/2013/01/10/equifax-and-docusign-help-the-irs-accelerate-forms-processing-with-esignature/ |date=January 8, 2014 }}</ref>

In July 2018, DocuSignDocusign acquired [[SpringCM]] for $220 million.<ref>{{Cite news|url=https://www.zdnet.com/article/docusign-buys-springcm-for-220-million/|title=DocuSign buys SpringCM for $220 million {{!}} ZDNet|last=Gagliordi|first=Natalie|work=ZDNet|access-date=2018-08-01|language=en}}</ref>

In February 2020, DocuSignDocusign acquired Seal Software for $188 million.<ref>{{Cite web|url=httphttps://social.techcrunch.com/2020/02/27/docusign-acquires-seal-software-for-188m-to-enhance-its-ai-chops/|title=DocuSign acquires Seal Software for $188M to enhance its AI chops|website=TechCrunch|language=en-US|access-date=2020-02-28}}</ref>

DocuSignDocusign ranked number 6 on [[Fast Company|Fast Company's]] Most Innovative Enterprise Tech Companies of 2022, with an overall market share of 61%.<ref>{{Cite web |last=Woodruff |first=Jay |date=2022-03-08 |title=The 10 most innovative enterprise companies in 2022 |url=https://www.fastcompany.com/90724396/most-innovative-companies-enterprise-2022 |access-date=2022-03-09 |website=Fast Company |language=en-US}}</ref>

In 2004, DocuSignDocusign raised $4.6 million from Ignition Partners and Frazier Technology Ventures.<ref name="Frazier">[http://www.seattlepi.com/news/article/Digital-signature-firm-raises-4-6-million-1147169.php Digital signature firm raises $4.6 million] Cook, John ''Seattle Post-Intelligencer'' June 14, 2004</ref> In 2006, Sigma Partners became the largest shareholder, a position it held at the time of the IPO, with returns over $700&nbsp;million.<ref name="Sigma">{{Cite news|url=https://www.bloomberg.com/news/articles/2018-04-27/twelve-years-later-docusign-s-big-believer-gets-his-glory/|title="Twelve Years Later, DocuSign's Big Believer Gets His Glory|last= Chapman|first=Lizette |work=[[Bloomberg News|Bloomberg]]|date=27 April 2018 |accessdate=July 7, 2023}}</ref> Between 2006 and 2009 DocuSignDocusign raised $30&nbsp;million that allowed the firm to add corporate clients and process 48&nbsp;million signatures.<ref name="30M">[http://www.seattlepi.com/business/xconomy/article/DocuSign-Scores-5M-More-1303824.php DocuSign Scores $5M More] Huang, Gregory ''Seattle Post-Intelligencer'' May 7, 2009</ref>

In July 2012, DocuSignDocusign raised $47.5 million in venture funding from investors including [[Kleiner Perkins Caufield & Byers]]; the round later grew closer to $56&nbsp;million.<ref>Marino, Jonathan. "DocuSign Beefs up its Series D & Adds Google Ventures," PE Hub. Retrieved 24 March 2014.</ref><ref name="Kleiner">[https://techcrunch.com/2012/07/12/docusign-kleiner-perkins-mary-meeker/ E-Signature Company DocuSign Raises $47.5M Led by Kleiner Perkins] Ha, Anthony ''TechCrunch '' July 12, 2012</ref> In March 2014, the company announced it had raised $85&nbsp;million in a new funding round.<ref>Hoge, Patrick. "DocuSign raises $85 million for electronic signatures and more," San Francisco Business Times. Retrieved 24 March 2014.</ref> Though unconfirmed, ''[[The Wall Street Journal]]'' reported the round was based on a company valuation of $1.6&nbsp;billion.<ref>Rusli, Evelyn M. and Douglas MacMillan. "DocuSign Raises $85 Million at $1.6 Billion Valuation," ''The Wall Street Journal''. Retrieved 24 March.</ref>

In 2018, the company announced plans for an [[initial public offering]] on the [[NASDAQNasdaq]],<ref>{{Cite news|url=https://www.geekwire.com/2018/docusign-ups-ipo-target-417m-stock-price-24-26-new-filing-reveals/|title=DocuSign ups IPO target to $417M on stock price of $24 to $26, new filing reveals|last=Levy|first=Nat|date=17 April 2018|work=[[GeekWire]]|access-date=20 April 2018}}</ref> withThe theIPO goalwas ofcompleted raisingon upApril to27, $543&nbsp;millionin whenwhich the company goesraised public$543&nbsp;million. Neither the original founders nor current CEO Daniel Springer were major shareholders at that time.<ref>{{cite news|title=DocuSign Readies Plans For $543 Million IPO|url=https://seekingalpha.com/article/4163859-docusign-readies-plans-543-million-ipo|publisher=Seeking Alpha|date=April 18, 2018}}</ref> Former CEO Keith Krach was the largest individual shareholder at 5.5%, about 8.5&nbsp;million shares at the time of the IPO. Venture capital firms Sigma Partners, Ignition Partners, and now-defunct company Frazier Technology Ventures were the largest non-individual shareholders.<ref name="ipoinvestors" />

DocuSignDocusign's services are offered either by subscription or through a [[mobile app]]. DocuSignDocusign released the mobile app in November 2011.<ref name="Digital">[http://www.pcworld.com/article/248492/digital_signatures_let_you_ditch_that_old_fax_machine.html Digital Signatures Let You Ditch That Old Fax Machine] West, Angela ''PC Magazine'' January 23, 2012</ref>

DocuSignDocusign Professional emails recipients an electronically signed document requesting review of a document after it is uploaded. Each party must agree to complete business electronically, review the document, and apply a signature. Signatures may be added from a stored copy of a signature or generated automatically by the software. Phone confirmation and background checks are offered as premium services.<ref name="DocuSign">[https://www.pcmag.com/article2/0,2817,2393573,00.asp DocuSign Pro] {{Webarchive|url=https://web.archive.org/web/20170227224255/http://www.pcmag.com/article2/0,2817,2393573,00.asp |date=2017-02-27 }} ''PC Magazine'' September 28, 2011</ref>

Daniel Springer filed a lawsuit against DocuSign as the company claimed that he resigned, when he argued the resignation was fabricated.<ref>{{Cite web |last=Research |first=Ironside |date=2023-05-02 |title=DocuSign: Boardroom Drama And Bloated Cost Keep Us Far, Far Away (NASDAQ:DOCU) {{!}} Seeking Alpha |url=https://seekingalpha.com/article/4598741-docusign-boardroom-drama-bloated-cost-keep-us-far-away |access-date=2024-01-14 |website=seekingalpha.com |language=en}}</ref> In a 2016 case, it was found that a lawyer in Sacramento usingwho had exclusively DocuSignbeen using Docusign signatures had the signatures rendered invalid due to the legal requirements of a physical signature known as a wet signature (''see [[signature#Wet signatures | wet signature]]'').<ref>{{Cite web |title=US Court Rejects DocuSign E-Signatures for Digital Authorization |url=https://www.cryptomathic.com/news-events/blog/us-court-rejects-docusign-e-signatures-as-method-to-provide-digital-authorization |access-date=2024-01-14 |website=www.cryptomathic.com |language=en-us}}</ref> There was also a [[Class action|class action lawsuit]] against DocuSign in 2022 over conduct by DocuSign from 2020-2021 that alleged the company misled investors and shareholders with false reporting. According to the initial complaint, DocuSign "failed to disclose the role the COVID-19 pandemic had on its growth, including the positive impact on DocuSign's business. [DocuSign] also downplayed the impact that a 'return to normal' would have on the Company's growth and business."<ref>{{Cite web |date=2022-01-03 |title=SHAREHOLDER ALERT: Robbins LLP Informs Investors of Class Action Against DocuSign, Inc. (DOCU) |url=https://www.businesswire.com/news/home/20220103005149/en/SHAREHOLDER-ALERT-Robbins-LLP-Informs-Investors-of-Class-Action-Against-DocuSign-Inc.-DOCU |access-date=2024-01-14 |website=www.businesswire.com |language=en}}</ref><ref>{{Cite web |title=DocuSign Hit With Derivative Suit Over Pandemic Demand Changes |url=https://news.bloomberglaw.com/securities-law/docusign-hit-with-derivative-suit-over-pandemic-demand-changes |access-date=2024-01-14 |website=news.bloomberglaw.com |language=en}}</ref>

On 15 March 2015, CEO Keith Krach announced the formation of the $30 million DocuSignmillion Docusign IMPACT Foundation, a [[philanthropy]] department of the company to donate to charities.<ref>{{cite news| title=Life & News Names Keith Krach '2018 Transformational Leader of the Year'|author=<!--not stated-->|publisher=Life and News | date=12 December 2018| url=https://www.lifeandnews.com/articles/life-and-news-names-keith-krach-2018-transformational-leader-of-the-year/}}</ref>

| name = DocuSignDocusign

{{DEFAULTSORT:DocuSignDocusign}}

[[Category:2003Electronic establishmentssignature in Californiaproviders]]