The Docusign Inc. utility for obtain within the Apple App Store on a smartphone organized in Dobbs Ferry, New York, U.S., on Thursday, April 1, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Images
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 few doable sale.
Talks are nonetheless preliminary, the Journal reported, citing folks accustomed to 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 firm has a market cap of about $13 billion.
DocuSign went public in 2018 and noticed enterprise growth throughout the pandemic as demand soared for know-how that allowed folks to work collectively on paperwork remotely. But development has slowed dramatically because the financial system reopened, and competitors stays from Adobe and Dropbox.
A yr in the past, DocuSign employed former Google govt Allan Thygesen to exchange Dan Springer as CEO. Layoffs adopted days later.
The inventory plummeted 22% on March 10, after the corporate mentioned finance chief Cynthia Gaylor would depart and informed traders to count on a single-digit quarterly income enhance, down from development above 50% throughout Covid.

https://www.cnbc.com/2023/12/15/docusign-shares-spike-on-report-company-is-exploring-a-sale.html