The Big Shift That Could Make DocuSign a Winner
DocuSign (NASDAQ: DOCU) has been growing rapidly as individuals and companies embrace digital processes. But despite existing for nearly 17 years, this e-signature pioneer has yet to post positive GAAP earnings. However, largely thanks to business and consumption changes spurred by the coronavirus pandemic, the company may soon reach a major turning point.
DocuSign has struggled to find a footing for years. Its vision for e-signatures seemed to arrive an entire decade before consumers were ready to embrace it. Early competition suffered similar hiccups: The most notable competitor was EchoSign, acquired by Adobe (NASDAQ: ADBE) in 2006 as a corollary to its document business, while others floundered in a sea of lackluster demand. But now, thanks to recent tailwinds created by pandemic countermeasures, DocuSign may finally find itself on the cusp of real success.
To stay afloat, DocuSign needed to rethink its strategy. It began expanding and exploring adjacent opportunities to pad out its value and convenience. No longer just offering e-signatures, DocuSign remade itself as a one-stop solution for the entire agreement process, launching the company's increasing -- if still unprofitable -- growth.
Source Fool.com
