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.
Joe Cecela, Dream Exchange CEO, explains how they are aiming to form the first minority-controlled company to operate an exchange in U.S. history. Watch!
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
