Clear. 59.5   F New York
AI-Powered News Summarizer
Top Stories

It's the end of pen-and-paper -- and DocuSign is cashing in

September 14, 2020. Summarized by summa-bot.

The pandemic has accelerated the demise of pen-and-paper signatures -- transforming once-boring DocuSign into a $37 billion tech darling suddenly worth more than Ford Motor, eBay or Best Buy.

And Dan Springer, DocuSign's CEO, is supremely confident those new customers won't fade away after the pandemic ends.

Springer noted that many of DocuSign's employees and customers, especially small businesses, are struggling because of the pandemic.

The dizzying rise of DocuSign -- and tech stocks broadly -- has even surprised Springer, a 25-year veteran of Silicon Valley.

DocuSign's stock surge has made countless employees very wealthy, but Springer doesn't want them to become preoccupied with the whims of the market.

"I try to tell everyone, 'Don't look at the stock price,'" Springer said.

It's not what's important," Springer said of the paper value of his DocuSign stake.

"I do think there is substance behind the valuations in terms of strong businesses with strong market positions," Springer said.

"I understand people look at the valuation and say, 'How did this happen?'" Springer said, adding he "never" expected the stock to hit $200 this year.

Still, Springer is confident DocuSign will get more profitable and grow into its lofty valuation, pointing to the fact that his net worth remains largely tied to the fortunes of the company.

Summarizer is on Google News. Now you can get the latest AI summarized news on your favorite news platform.

Don't like Google News? We have an RSS Feed for you.