Growth slows dramatically after 2021
early days In the days of the pandemic, I had to have my documents notarized. I met a notary public at my local bank office. She pulled my papers and ID through the gap in the door. She saw it while I was waiting outside. Eventually she returned the paperwork and my license to me. I signed and returned it to her for her stamp. All this would have been much easier online.
DocuSign looks like a corporate slam dunk. This helped define categories of digital signatures. It’s an idea that got full attention during a pandemic that made office meetings impossible, but it still needed to do business. It has fallen sharply since peaking at $60 today.
To be fair, DocuSign is one of many SaaS companies whose value has plummeted since the market hit a plateau at the end of 2021, but in a world still stuck with paper workflows, it’s a real winner. We are solving the problem. So why are we suffering the same fate as companies that are considered less important to our business?
From the outside, it seems a little puzzling that the company is struggling to maintain value and grow given its role in digital transformation. Sure, the economy has hit many enterprise SaaS companies, but there’s probably more that can’t be explained by a general technology slowdown alone. Last year, the former Google advertising executive moved to a new CEO when he hired Allan Thygesen. That was probably a sign that things were amiss.
Most recently, the company announced on its earnings call earlier this month that CFO Cynthia Gaylor would be stepping down after four and a half years in various roles.
