Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, January 27, 2023

Article Excerpt

DOCUSIGN INC., $59.25, symbol DOCU on Nasdaq, provides its 1.32 million paying customers and over a billion users with a cloud-based software suite that automates the agreement process. Founded in 2003, it generates most of its revenues from its e-signature solution, the world’s leading e-signature product. DocuSign’s customers include some of the world’s largest financial institutions. The company first sold shares to the public in April 2018 at $29 a share. Although DocuSign’s shares have doubled since its IPO, they’re down 81% from their all-time high of over $310 in September 2021. DocuSign thrived during the pandemic as its e-signature product was in high demand. Since most of the world has now reopened, its products aren’t nearly as in demand. However, it still holds 78% of the e-signature market. Dan Springer, the company’s CEO who took it public in 2018, stepped down in June 2022 after five years in the top role. Subsequently, in October 2022, DocuSign hired Allan Thygesen as its new…