during the first days of the pandemic, I had to have a document notarized. I met the notary at my local bank office. He took my ID and ID through a crack in the door. He looked at it while I waited outside. Eventually she returned the document and my license to me; I signed it and returned it to her for her stamp. All of this would have been so much easier online.
DocuSign seems like a knockout from a company. He helped define the digital signature category, an idea that came into full focus during the pandemic when meeting in an office became impossible, but business still had to be done. And yet, the company’s shares have been in free fall since 2021 when they peaked at more than $300 a share. Today it costs less than $60.
To be fair, DocuSign is one of many SaaS companies that has seen its value drop since the market peaked in late 2021, but it’s solving a real problem in a world that’s still mired in workflows. on paper. Why, then, does it suffer the same fate as companies that might be considered less business-critical?
From the outside, the company’s struggle to retain value and grow seems a bit puzzling given its role in digital transformation. Sure, the economy has hit a lot of SaaS enterprise companies, but there’s probably more to it than a general technology slowdown could explain. He made the move to a new CEO when he brought in former Google ad executive Allan Thygesen last year. That was a sign perhaps that things were bad.
Most recently, the company announced on its earnings call earlier this month that Chief Financial Officer Cynthia Gaylor was stepping down after 4.5 years with the company in various roles.
