DocuSign CEO: ‘We Haven’t Seen’ a Slowdown Yet
April 16, 2020
DocuSign CEO Dan Springer says the company hasn’t noticed a decline in real estate activity on its platform, despite the economic fallout from the COVID-19 pandemic.
“Real estate is an interesting [case] because while a lot of people are concerned there is going to be a slowdown, we haven’t yet seen that at DocuSign,” Springer told CNBC. The company has noticed an increase in use among their existing clients securing electronic signatures to keep transactions on track.
“We have almost 600,000 customers, from the smallest businesses up to the largest Fortune companies, and we’ve seen across that there is more demand for volumes,” Springer says.
DocuSign, the National Association of REALTORS®' exclusive esignature provider, under the REALTOR Benefits® Program, has been offering discounted costs through the Right Tools, Right Now program so that more brokerages can use their services during this time. The program allows real estate pros to gather remote signatures on contracts and agreements with clients.
DocuSign’s stock hit an all-time high on March 31, trading at $93.83, which occurred at a time when overall stocks have been at lows.
Springer acknowledged to CNBC that even though the company’s platform allows transactions to proceed virtually, the company will not be immune to a broader macroeconomic slowdown from the outbreak. But so far, he says the largest amount of challenges from their customers have mostly been centered in just the travel and hospitality sectors.
“DocuSign CEO Says the Company Has Not Yet Seen a Slowdown in Activity Among Real Estate Clients,” CNBC (April 7, 2020)
Updated: September 17, 2021