The DocuSign IPO has been a smash hit so far as the stock’s price is higher than anticipated.
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The company — which focuses on creating digital signatures for signing documents and other document organization tools — priced its IPO Thursday evening at around $29 per share, which netted the company around $629 million. The price was better than what DocuSign was expecting initially in its IPO.
The original proposed price range was between $24 to $26 and was later raised to $26 to $28, giving the company a valuation of $4.4 billion on its IPO, above the $3 billion the company had raised for its last private round. DocuSign has been around since 2003 and the company has raised over $500 million over these 15 years.
In the fiscal year ending in 2018, the company brought in $518.5 million in revenue, up from the year-ago revenue of $381.5 million and $250.5 million the year before. Losses for the year tallied up to $52.3 million, less than half of the year-ago’s losses of $115.4 million and below the $122.6 million from fiscal 2016.
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