The Docusign Inc. software for obtain within the Apple App Retailer on a smartphone organized in Dobbs Ferry, New York, U.S., on Thursday, April 1, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Photos
DocuSign shares rose as a lot as 15% and closed up 12% on Friday after the Wall Street Journal reported the e-signature software program firm tapped advisors a couple of doable sale.
Talks are nonetheless preliminary, the Journal reported, citing folks acquainted with the matter. A DocuSign consultant did not instantly reply to a request for touch upon the report.
After shedding nearly two-thirds of its worth final yr, DocuSign’s rebound this yr has been much less dramatic than lots of its tech friends. The inventory is up 16% in 2023, whereas the Nasdaq Composite has gained 41%. The corporate has a market cap of about $13 billion.
DocuSign went public in 2018 and noticed enterprise increase throughout the pandemic as demand soared for know-how that allowed folks to work collectively on paperwork remotely. However development has slowed dramatically for the reason that economic system reopened, and competitors stays from Adobe and Dropbox.
A yr in the past, DocuSign employed former Google government Allan Thygesen to switch Dan Springer as CEO. Layoffs adopted days later.
The inventory plummeted 22% on March 10, after the corporate said finance chief Cynthia Gaylor would go away and instructed buyers to anticipate a single-digit quarterly income enhance, down from development above 50% throughout Covid.
