Was on the fence about this one, reading the pros and cons, and got in due to the seemingly fair valuation. Then I got some paperwork to sign from my company (fortune 500) that needed my e-sig. It was an Adobe document that did exactly the same thing as Docusign. Not sure what the moat is here, so I am out.
Fair point about Adobe - in fact it would seem that they could easily dominate this space given the fact that Adobe PDF is used by almost every corporation today. Yet they don’t. In fact, I’ve heard Docusign consistently used as a verb in relation to e-signing in a number of large corporations. If DOCU can continue to make progress on their “agreement management” initiative, I think they can accelerate their growth. Every corporation of any significant size has hundreds/thousands of “agreement” processes (aka approval processes) in every corner of their organization and a relatively light weight, flexible solution built in conjunction with their e-signature technology could have massive adoption.
I’ve got a small position today and will consider adding significantly more if I see that progress.