DocuSign, a company that allows users to sign PDFs electronically, replaced United Airlines in the Nasdaq 100 index this week, a move chock full of symbolism as so-called "stay-at-home stocks" have rallied amid the pandemic.
Shares of DocuSign are up about 120 percent year-to-date, though CEO Dan Springer told Cheddar that he's trying not to think about the stock price as he focuses on broadening the company's portfolio.
"We were off to a great start this year before the pandemic," Spring said. While the effects of COVID-19 recently propelled companies like Zoom and Slack, they also "accelerated" DocuSign's growth trajectory.
To wit: in Q1 of 2019, the company added 3,000 net new customers. In Q1 of 2020, it more than tripled that. DocuSign is also seeing significant growth with its existing customer base, Springer said, pointing to a metric known as "dollar net retention," similar to same-store sales in retail. DocuSign's dollar net retention is up 119 percent this quarter, he said, meaning existing customers are spending nearly 20 percent more on DocuSign products and services.
Springer sees a major growth opportunity in what he calls the "agreement cloud" -- the unsexy, but potentially lucrative business of preparing documents and forms for signature, and then managing them once they're signed.
"That really is the future for this company," Springer said. "It's the next big cloud opportunity."
With its induction into the Nasdaq 100 -- considered a tech industry benchmark -- DocuSign will take its place in the index next to heavyweights like Alphabet, Apple, and Facebook just two years after the company went public.
Nvidia smashes earnings with record-breaking revenue and soaring Blackwell demand as shares slip this morning, Barron’s senior writer Adam Levine unpacks it all
Jeff Wagoner, CEO of Outrigger Hospitality Group, discusses the company’s coral preservation initiatives and sustainable practices at their hotels and resorts.
Dena Jalbert, Head of M&A at Align Advisory, discusses the state of mergers and acquisitions in 2025 and beyond, highlighting key trends and opportunities.
Kim Perell, author and entrepreneur, shares actionable tips and tricks to help current and aspiring entrepreneurs kick off 2026 with confidence and momentum.
Computer chipmaker Nvidia is poised to release a quarterly earnings report that is expected to either deepen a recent downturn in the stock market or prompt an ebullient sigh of relief among investors increasingly worried the world’s most valuable company is perched upon an artificial intelligence bubble about to burst.
Emera CEO Scott Balfour discusses soaring energy demand, AI-driven grid challenges, clean-power investments, and how the company is building a resilient future.
JB Mackenzie discusses Robinhood’s new entertainment prediction markets, letting users engage with pop culture, award shows, and more through low-stakes bets.
Rhett Power shares his startup journey, lessons from his early years and insights from his book on overcoming negative self-talk to lead with confidence.
Despite inflation, Americans aren’t giving up the gym. Crunch Fitness CEO Jim Rowley discusses strong growth, value-driven expansion and what the future holds.
Home prices far outpacing incomes, low inventory, and higher living costs are reshaping the market. WSJ’s Veronica Dagher breaks down the challenges ahead.
