Virtual signatures are big business, and one Seattle-based company is hoping that will propel them to a successful IPO.
According to a report by the Wall Street Journal’s Venture Capital Dispatch blog, DocuSign is actively planning to go public, as it works to rapidly expand its business into new verticals. The company currently has 48 million customers sending and receiving digitally signed documents, and that number continues to rise. It’s for that reason that DocuSign’s CFO says the company isn’t planning on getting acquired: nobody can pay the right price.
“It would be close to impossible for anyone to pay us what we are valued at because we cross more than one vertical,” Mike Dinsdale told the WSJ. “We won’t be acquired. An IPO is logical at some point.”
According to the post, no one industry makes up more than 20 percent of DocuSign’s revenue, which is “in line with” that of Marketo, which did about $25.5 million in sales last quarter.
Seattle-based tech firms have been enjoying a good run on Wall Street, with Tableau and Zulily both launching successful IPOs this year. DocuSign isn’t currently disclosing any sort of road map towards an IPO, but the company is hurtling towards Wall Street.
