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CONTENTS

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 * 1 History
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   * 1.1 Funding
 * 2 Products
 * 3 Litigation
 * 4 Docusign IMPACT Foundation
 * 5 See also
 * 6 References
 * 7 External links

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DOCUSIGN

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From Wikipedia, the free encyclopedia

American software company

Docusign, Inc.
Headquarters in San Francisco
Company typePublic
Traded as
 * Nasdaq: DOCU
 * Russell 1000 component

IndustrySoftwareFounded2003; 21 years ago (2003)Founders
 * Tom Gonser
 * Court Lorenzini
 * Eric Ranft

Headquarters
San Francisco, California, U.S.
Number of locations
15[1] (2024)
Key people
 * Maggie Wilderotter (chair)[2]
 * Allan Thygesen (CEO) [3]

ProductsElectronic signature and digital transaction management software and
servicesRevenue US$2.76 billion (2024)
Operating income
US$31.6 million (2024)
Net income
US$74.0 million (2024)Total assets US$2.97 billion (2024)Total equity US$1.13
billion (2024)
Number of employees
6,840 (2024)ASN
 * 62856

Websitedocusign.comFootnotes / references
Financials as of January 31, 2024[update][4]

Docusign, Inc. is an American software company headquartered in San Francisco,
California, that provides products for organizations to manage electronic
agreements with electronic signatures on different devices. As of 2024[update],
Docusign has about 1.5 million clients in 180 countries.[4] Signatures processed
by Docusign are compliant with the US ESIGN Act[5] and the European Union's
eIDAS regulation, including EU Advanced and EU, Qualified Signatures.[6]

In April 2018, Docusign 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 Krach was
the largest individual shareholder. None of the original founders are major
shareholders.[7][8] The company went public on the Nasdaq on April 27, 2018.[9]


HISTORY[EDIT]

Docusign was founded in 2003 by Court Lorenzini, Tom Gonser, and Eric Ranft.[10]
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 $1M in the merger into NetUpdate.[11][12] 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 Docusign. Gonser then left the NetUpdate Board
to focus on Docusign full-time.

The firm began sales in 2005 when zipForm, now zipLogix, integrated Docusign
into its virtual real estate forms. According to Docusign, mock trials featuring
licensed attorneys and judges highlighted the admissibility of Docusign
contracts in court based on encrypted audit logs of signature events, as well as
the impossibility of changing contracts.[13]

In January 2007, Court Lorenzini stepped down as CEO and board chairman replaced
as CEO by Matthew Schiltz,[14] who served in that role until January 2010.[15]
Steven King replaced Schultz as CEO[15] and moved the corporate headquarters
from Seattle to San Francisco. Keith Krach became Docusign's chairman of the
board in January 2010 and its CEO in August 2011.[16]

Docusign 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.[17]
Scale Venture Partners led an investment round of $27 million in December
2010.[18]

Docusign opened an office in London, England, in September 2011.[19] In the same
year, Docusign opened an office in San Francisco that now functions as its
global headquarters.[20]

Docusign signed an agreement with PayPal in April 2012 that allowed users to
capture signatures and payments in a single transaction.[21] Similar
partnerships with Salesforce.com[22] and Google Drive[23] preceded the PayPal
agreement.

In July 2012, Business Insider reported that about 90% of Fortune 500 companies
had signed up to use Docusign.[24]

On January 10, 2013, Docusign 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 Docusign to securely send requests to loan applicants.
Docusign and[25] Equifax were among 14 firms that participated in a nine-month
feasibility study of electronic signatures for 4506-T forms in 2011.[26]

In October 2015, Keith Krach announced he would step down as CEO once a search
for a new CEO was completed.[27]

In January 2017, veteran software executive Daniel Springer was named as the new
CEO.[28][29]

In July 2018, Docusign acquired SpringCM for $220 million.[30]

In February 2020, Docusign acquired Seal Software for $188 million.[31]

Docusign ranked number 6 on Fast Company's Most Innovative Enterprise Tech
Companies of 2022, with an overall market share of 61%.[32]

On June 1, 2021, DocuSign acquired Clause, a smart legal contract technology
startup.[33][34]

On June 21, 2022, Daniel Springer was replaced as CEO by Mary Agnes "Maggie"
Wilderotter,[35] and later Allan Thygesen as CEO on September 22, 2022. Thygesen
assumed office on October 10.[36]

In February 2024, the company announced plans to cut around 400 jobs, some 6% of
its workforce.[37]

In April 2024, the company announced a significant expansion of its company
strategy, opening up a new SaaS category — Intelligent Agreement Management —
and launching Docusign IAM, an Intelligent Agreement Management platform and new
line-of-business-focused applications to lead that category.[38][39]


FUNDING[EDIT]

In 2004, Docusign raised $4.6 million from Ignition Partners and Frazier
Technology Ventures.[40] In 2006, Sigma Partners became the largest shareholder,
a position it held at the time of the IPO, with returns over $700 million.[41]
Between 2006 and 2009 Docusign raised $30 million that allowed the firm to add
corporate clients and process 48 million signatures.[42]

In July 2012, Docusign raised $47.5 million in venture funding from investors
including Kleiner Perkins Caufield & Byers; the round later grew closer to
$56 million.[43][44] In March 2014, the company announced it had raised
$85 million in a new funding round.[45] Though unconfirmed, The Wall Street
Journal reported the round was based on a company valuation of $1.6 billion.[46]

In May 2015, the company announced it had raised $233 million in a new funding
round, with some estimating a $3 billion company valuation.[47][48]

In 2018, the company announced plans for an initial public offering on the
Nasdaq,[49] The IPO was completed on April 27, in which the company raised
$543 million. Neither the original founders nor CEO Daniel Springer were major
shareholders at that time.[50] Former CEO Keith Krach was the largest individual
shareholder at 5.5%, about 8.5 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.[8]


PRODUCTS[EDIT]

Docusign's services are offered either by subscription or through a mobile app.
Docusign released the mobile app in November 2011.[51]

Docusign 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.[52]


LITIGATION[EDIT]

In a 2016 case, it was found that a lawyer in Sacramento who had exclusively
been using Docusign signatures had the signatures rendered invalid due to the
legal requirements of a physical signature known as a wet signature).[53]

A class action lawsuit began against Docusign in 2022 regarding their conduct
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."[54][55]

In 2023, the company's former CEO Daniel Springer filed a lawsuit against
Docusign. While the company claimed that Springer had resigned, his lawsuit
alleged that the resignation was fabricated.[56]


DOCUSIGN IMPACT FOUNDATION[EDIT]

Krach announces the formation of the IMPACT Foundation at the Momentum user
conference, 15 March 2015.

On 15 March 2015, CEO Keith Krach announced the formation of the $30
million Docusign IMPACT Foundation, a philanthropy department of the company to
donate to charities.[57]


SEE ALSO[EDIT]

 * Adobe Sign
 * Handwriting recognition
 * HelloSign
 * PandaDoc
 * Title 21 CFR Part 11
 * Uniform Electronic Transactions Act


REFERENCES[EDIT]

 1.  ^ "Contact Us". DocuSign. Archived from the original on 2024-03-19.
     Retrieved 2024-03-21.
 2.  ^ Bursztynsky, Jessica (21 June 2022). "DocuSign CEO Dan Springer steps
     down". CNBC.
 3.  ^ Novet, Jordan (2022-09-22). "DocuSign names former Google executive Allan
     Thygesen as new CEO". CNBC.
 4.  ^ Jump up to: a b "US SEC: Form 10-K Docusign, Inc". U.S. Securities and
     Exchange Commission. 21 March 2024.
 5.  ^ ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT Federal Trade
     Commission June 2001
 6.  ^ "DocuSign makes digital signatures easy". DocuSign. 22 July 2016.
     Retrieved 2 March 2020.
 7.  ^ "When DocuSign goes public, it could be worth over $3.8 billion — here
     are the biggest winners". April 17, 2018. Retrieved 21 April 2018.
 8.  ^ Jump up to: a b "DocuSign unveils IPO filing". TechCrunch. March 28,
     2018. Retrieved 21 April 2018.
 9.  ^ "DocuSign, Inc. Common Stock (DOCU) Quote & Summary Data". NASDAQ.
     Retrieved 27 March 2019.
 10. ^ Konrad, Alex (April 27, 2018). "E-Signature Leader DocuSign Couldn't Find
     A Boss Two Years Ago. Now It's Worth $6 Billion After IPO". Forbes.
 11. ^ Online Signatures: DocuTouch Introduces DocuSign Internet News July 11,
     2000
 12. ^ NetUpdate Buys DocuTouch Archived 2014-01-08 at the Wayback Machine
     National Mortgage News August 22, 2001
 13. ^ Work Smarter with a Tool Your Mom Can Use Archived July 7, 2012, at the
     Wayback Machine Bui, An DocuSign July 10, 2009
 14. ^ "DocuSign Names Matthew J. Schiltz as CEO and President".
     www.businesswire.com. 2007-01-25.
 15. ^ Jump up to: a b Cook, John (27 January 2010). "DocuSign taps new CEO".
     Portland Business Journals. Retrieved 2020-03-27.
 16. ^ "Keith Krach: A dot-com CEO returns". Fortune. Archived from the original
     on 6 January 2017. Retrieved 20 August 2015.
 17. ^ DocuSign Releases Updated Version of E-Signature Software Hachman, Mark
     PC Magazine June 30, 2010
 18. ^ Washington Startups See Spike in Investing Dollars in December Kutz, Erin
     Xconomy January 28, 2011
 19. ^ Gage, Deborah (September 2, 2011). "DocuSign Opens First International
     Office, In London". Dow Jones Private Equity & Venture Capital. Archived
     from the original on January 8, 2014. Retrieved February 8, 2013.
 20. ^ Berman, Nat (2016-10-28). "The Impressive Rise of DocuSign". Money Inc.
     Retrieved 2020-03-27.
 21. ^ PayPal partners with DocuSign to help businesses collect signatures for
     online payments Brian, Matt The Next Web April 11, 2012
 22. ^ DocuSigns Delivers Close it in the Cloud! Integrated ESIGN Solutions to
     Salesforce Reuters November 5, 2009
 23. ^ Google Drive Kicks Off with DocuSign Integration King, Rachel ZDNet April
     24, 2012
 24. ^ At DocuSign, Keith Krach Continues His Epic 16-Year Quest To Reinvent The
     Business World Huspeni, Andrea Business Insider July 13, 2012
 25. ^ Helft, Miguel . "DocuSign raises $47.5 million, adds Mary Meeker to
     board," Fortune. Retrieved 24 March 2014.
 26. ^ Equifax and Docusign Help the IRS Accelerate Forms Processing With
     eSignature PR Newswire Daily Markets January 10, 2013 Archived January 8,
     2014, at the Wayback Machine
 27. ^ Swisher, Kara (9 October 2015). "DocuSign CEO to Step Down After New CEO
     Search Is Complete". www.recode.net. Retrieved 14 October 2015.
 28. ^ Roof, Katie (18 January 2017). "A new CEO for DocuSign". TechCrunch.
     Retrieved 2017-01-19.
 29. ^ Konrad, Alex. "DocuSign Names Former Responsys Chief As New CEO, Ending A
     Lengthy Search". Forbes. Retrieved 2017-01-19.
 30. ^ Gagliordi, Natalie. "DocuSign buys SpringCM for $220 million". ZDNet.
     Retrieved 2018-08-01.
 31. ^ "DocuSign acquires Seal Software for $188M to enhance its AI chops".
     TechCrunch. Retrieved 2020-02-28.
 32. ^ Woodruff, Jay (2022-03-08). "The 10 most innovative enterprise companies
     in 2022". Fast Company. Retrieved 2022-03-09.
 33. ^ Ray, Tiernan (2021-05-27). "DocuSign acquires 'smart agreements' startup
     Clause". ZDNet.
 34. ^ Hathi, Kamal. "Taking the Next Step in Our Smart Agreement Journey}
     DocuSign". DocuSign. Retrieved 2024-05-13.
 35. ^ "DocuSign Board of Directors Announces Leadership Changes for Next Phase
     of Growth". DocuSign. 2022-06-21. Retrieved 2022-07-18.
 36. ^ Novet, Jordan (22 September 2022). "DocuSign names former Google
     executive Allan Thygesen as new CEO". CNBC. Retrieved 2022-09-22.
 37. ^ Sarah E. Needleman (6 February 2024). "Tech Layoffs Just Keep Coming as
     Sector Resets for AI". The Wall Street Journal. Retrieved 6 February 2024 –
     via MSN.
 38. ^ "Docusign unveils Intelligent Agreement Management platform to transform
     business contracts". SiliconANGLE. 2024-04-11. Retrieved 2024-06-05.
 39. ^ "Introducing the New Docusign, the Intelligent Agreement Management
     Company". www.docusign.com. 2024-04-11. Retrieved 2024-04-11.
 40. ^ Digital signature firm raises $4.6 million Cook, John Seattle
     Post-Intelligencer June 14, 2004
 41. ^ Chapman, Lizette (27 April 2018). ""Twelve Years Later, DocuSign's Big
     Believer Gets His Glory". Bloomberg. Retrieved July 7, 2023.
 42. ^ DocuSign Scores $5M More Huang, Gregory Seattle Post-Intelligencer May 7,
     2009
 43. ^ Marino, Jonathan. "DocuSign Beefs up its Series D & Adds Google
     Ventures," PE Hub. Retrieved 24 March 2014.
 44. ^ E-Signature Company DocuSign Raises $47.5M Led by Kleiner Perkins Ha,
     Anthony TechCrunch July 12, 2012
 45. ^ Hoge, Patrick. "DocuSign raises $85 million for electronic signatures and
     more," San Francisco Business Times. Retrieved 24 March 2014.
 46. ^ Rusli, Evelyn M. and Douglas MacMillan. "DocuSign Raises $85 Million at
     $1.6 Billion Valuation," The Wall Street Journal. Retrieved 24 March.
 47. ^ Lizette Chapman (12 May 2015). "DocuSign Hits $3 Billion Valuation in
     Latest Funding Round". WSJ. Retrieved 20 August 2015.
 48. ^ Alex Konrad. "DocuSign Doubles Valuation To $3 Billion With $233 Million
     Raise". Forbes. Retrieved 20 August 2015.
 49. ^ Levy, Nat (17 April 2018). "DocuSign ups IPO target to $417M on stock
     price of $24 to $26, new filing reveals". GeekWire. Retrieved 20 April
     2018.
 50. ^ "DocuSign Readies Plans For $543 Million IPO". Seeking Alpha. April 18,
     2018.
 51. ^ Digital Signatures Let You Ditch That Old Fax Machine West, Angela PC
     Magazine January 23, 2012
 52. ^ DocuSign Pro Archived 2017-02-27 at the Wayback Machine PC Magazine
     September 28, 2011
 53. ^ "US Court Rejects DocuSign E-Signatures for Digital Authorization".
     www.cryptomathic.com. Retrieved 2024-01-14.
 54. ^ "SHAREHOLDER ALERT: Robbins LLP Informs Investors of Class Action Against
     DocuSign, Inc. (DOCU)". www.businesswire.com. 2022-01-03. Retrieved
     2024-01-14.
 55. ^ "DocuSign Hit With Derivative Suit Over Pandemic Demand Changes".
     news.bloomberglaw.com. Retrieved 2024-01-14.
 56. ^ Ironside Research (2023-05-02). "DocuSign: Boardroom Drama And Bloated
     Cost Keep Us Far, Far Away". Seeking Alpha. Retrieved 2024-01-14.
 57. ^ "Life & News Names Keith Krach '2018 Transformational Leader of the
     Year'". Life and News. 12 December 2018.


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