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73-500: In April 2018, Docusign filed for an initial public offering . At the time of the IPO, the largest shareholders were venture investment firms Sigma Partners, Ignition Partners, Frazier Technology Ventures, and former CEO Keith Krach was the largest individual shareholder. None of the original founders are major shareholders. The company went public on the Nasdaq on April 27, 2018. Docusign

146-536: A mobile app . Docusign released the mobile app in November 2011. Docusign Professional emails recipients an electronically signed document requesting review of a document after it is uploaded. Each party must agree to complete business electronically, review the document, and apply a signature. Signatures may be added from a stored copy of a signature or generated automatically by the software. Phone confirmation and background checks are offered as premium services. In

219-475: A 2016 case, it was found that a lawyer in Sacramento who had exclusively been using Docusign signatures had the signatures rendered invalid due to the legal requirements of a physical signature known as a wet signature . A class action lawsuit began against Docusign in 2022 regarding their conduct from 2020-2021 that alleged the company misled investors and shareholders with false reporting. According to

292-580: A better result. In addition to the extensive international evidence that auctions have not been popular for IPOs, there is no U.S. evidence to indicate that the Dutch auction fares any better than the traditional IPO in an unwelcoming market environment. A Dutch auction IPO by WhiteGlove Health, Inc., announced in May 2011 was postponed in September of that year, after several failed attempts to price. An article in

365-482: A company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks , who also arrange for the shares to be listed on one or more stock exchanges . Through this process, colloquially known as floating , or going public , a privately held company is transformed into a public company . Initial public offerings can be used to raise new equity capital for companies, to monetize

438-421: A firm's stock of patents mitigates this effect. A Dutch auction allows shares of an initial public offering to be allocated based only on price aggressiveness, with all successful bidders paying the same price per share. One version of the Dutch auction is OpenIPO , which is based on an auction system designed by economist William Vickrey . This auction method ranks bids from highest to lowest, then accepts

511-453: A nine-month feasibility study of electronic signatures for 4506-T forms in 2011. In October 2015, Keith Krach announced he would step down as CEO once a search for a new CEO was completed. In January 2017, veteran software executive Daniel Springer was named the new CEO. Docusign ranked number 6 on Fast Company's Most Innovative Enterprise Tech Companies of 2022, with an overall market share of 61%. On June 21, 2022, Daniel Springer

584-467: A preliminary prospectus, known as a red herring prospectus , during the initial quiet period. The red herring prospectus is so named because of a bold red warning statement printed on its front cover. The warning states that the offering information is incomplete, and may be changed. The actual wording can vary, although most roughly follow the format exhibited on the Facebook IPO red herring. During

657-695: A single transaction. Similar partnerships with Salesforce and Google Drive preceded the PayPal agreement. On January 10, 2013, Docusign and Equifax announced a partnership to simplify electronic delivery of the Requests for Transcript of Tax Return Form 4506-T to the United States Internal Revenue Service . Under the partnership, Equifax allows lenders to use Docusign to securely send requests to loan applicants. Docusign and Equifax were among 14 firms that participated in

730-438: Is theglobe.com IPO which helped fuel the IPO "mania" of the late 1990s internet era. Underwritten by Bear Stearns on 13 November 1998, the IPO was priced at $ 9 per share. The share price quickly increased 1,000% on the opening day of trading, to a high of $ 97. Selling pressure from institutional flipping eventually drove the stock back down, and it closed the day at $ 63. Although the company did raise about $ 30  million from

803-566: Is an American venture capital firm which specializes in investing in incubation, early stage and growth companies. Since its founding in 1972, the firm has backed entrepreneurs in over 900 ventures, including America Online , Amazon.com , Tandem Computers , Compaq , Electronic Arts , JD.com , Square , Genentech , Google , Netscape , Sun Microsystems , Nest , Palo Alto Networks , Synack , Snap , AppDynamics , and Twitter . By 2019 it had raised around $ 9 billion in 19 venture capital funds and four growth funds. Kleiner Perkins

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876-494: Is called an underwriting spread . The spread is calculated as a discount from the price of the shares sold (called the gross spread ). Components of an underwriting spread in an initial public offering (IPO) typically include the following (on a per-share basis): Manager's fee, Underwriting fee—earned by members of the syndicate, and the Concession—earned by the broker-dealer selling the shares. The Manager would be entitled to

949-534: Is evidence that these shares were sold to public investors and traded in a type of over-the-counter market in the Forum , near the Temple of Castor and Pollux . The shares fluctuated in value, encouraging the activity of speculators, or quaestors . Mere evidence remains of the prices for which partes were sold, the nature of initial public offerings, or a description of stock market behavior. Publicani lost favor with

1022-534: Is focused on early stage investments in the "consumer, enterprise, hard tech and fintech" sectors. The firm raised US $ 600 million for its 18th fund, KP XVIII, in January 2019. In March 2008 Kleiner Perkins announced the iFund , a $ 100 million venture capital investment initiative that funds concepts related to the iPhone, and doubled that investment a year later. It was reported in April 2008 that Kleiner Perkins

1095-599: Is headquartered in Menlo Park in Silicon Valley , with offices in San Francisco and Shanghai , China. The New York Times described Kleiner Perkins as "perhaps Silicon Valley 's most famous venture firm". The Wall Street Journal called it one of the "largest and most established" venture capital firms and Dealbook named it "one of Silicon Valley's top venture capital providers." The firm

1168-451: Is low enough to stimulate interest in the stock but high enough to raise an adequate amount of capital for the company. When pricing an IPO, underwriters use a variety of key performance indicators and non-GAAP measures. The process of determining an optimal price usually involves the underwriters ("syndicate") arranging share purchase commitments from leading institutional investors. Some researchers (Friesen & Swift, 2009) believe that

1241-465: Is possible that the financial incentives of the advisor and client may not be aligned. The issuer usually allows the underwriters an option to increase the size of the offering by up to 15% under a specific circumstance known as the greenshoe or overallotment option. This option is always exercised when the offering is considered a "hot" issue, by virtue of being oversubscribed. In the US, clients are given

1314-399: Is to generate additional interest in the stock and a rapid rise in share price when it first becomes publicly traded (known as an "IPO pop"). Flipping , or quickly selling shares for a profit , can lead to significant gains for investors who were allocated shares of the IPO at the offering price. However, underpricing an IPO results in lost potential capital for the issuer. One extreme example

1387-530: The Dutch auction have also been explored and applied for several IPOs. The earliest form of a company which issued public shares was the case of the publicani during the Roman Republic , although this claim is not shared by all modern scholars. Like modern joint-stock companies, the publicani were legal bodies independent of their members whose ownership was divided into shares, or partes . There

1460-426: The Nasdaq , The IPO was completed on April 27, in which the company raised $ 543 million. Neither the original founders nor CEO Daniel Springer were major shareholders at that time. Former CEO Keith Krach was the largest individual shareholder at 5.5%, about 8.5 million shares at the time of the IPO. Venture capital firms Sigma Partners, Ignition Partners, and now-defunct company Frazier Technology Ventures were

1533-494: The Santa Clara Valley as well as early computer firms using their devices and programming and service companies. Venture capital firms suffered a temporary downturn in 1974, when the stock market crashed and investors were naturally wary of this new kind of investment fund. Nevertheless, the firm was still active in this period. By 1996, Kleiner Perkins had funded around 260 companies a total of $ 880 million. Beyond

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1606-410: The resignation was fabricated. On 15 March 2015, CEO Keith Krach announced the formation of the $ 30 million Docusign IMPACT Foundation, a philanthropy department of the company to donate to charities. [REDACTED] Media related to Docusign at Wikimedia Commons Initial public offering An initial public offering ( IPO ) or stock launch is a public offering in which shares of

1679-408: The "issuer", enters into a contract with a lead underwriter to sell its shares to the public. The underwriter then approaches investors with offers to sell those shares. A large IPO is usually underwritten by a " syndicate " of investment banks, the largest of which take the position of "lead underwriter". Upon selling the shares, the underwriters retain a portion of the proceeds as their fee. This fee

1752-507: The Dutch auction is still a little used method in U.S. public offerings, although there have been hundreds of auction IPOs in other countries. In determining the success or failure of a Dutch auction, one must consider competing objectives. If the objective is to reduce risk, a traditional IPO may be more effective because the underwriter manages the process, rather than leaving the outcome in part to random chance in terms of who chooses to bid or what strategy each bidder chooses to follow. From

1825-407: The Dutch auction system for its initial public offering. Traditional U.S. investment banks have shown resistance to the idea of using an auction process to engage in public securities offerings. The auction method allows for equal access to the allocation of shares and eliminates the favorable treatment accorded important clients by the underwriters in conventional IPOs. In the face of this resistance,

1898-473: The IPO are restricted from issuing any earnings forecasts or research reports for the company. When the quiet period is over, generally the underwriters will initiate research coverage on the firm. A three-day waiting period exists for any member that has acted as a manager or co-manager in a secondary offering. Not all IPOs are eligible for delivery settlement through the DTC system , which would then either require

1971-808: The United States, IPOs are regulated by the United States Securities and Exchange Commission under the Securities Act of 1933 . In the United Kingdom, the UK Listing Authority reviews and approves prospectuses and operates the listing regime. Planning is crucial to a successful IPO. One book suggests the following seven planning steps: IPOs generally involve one or more investment banks known as " underwriters ". The company offering its shares, called

2044-504: The Wall Street Journal cited the reasons as "broader stock-market volatility and uncertainty about the global economy have made investors wary of investing in new stocks". Under American securities law, there are two-time windows commonly referred to as "quiet periods" during an IPO's history. The first and the one linked above is the period of time following the filing of the company's S-1 but before SEC staff declare

2117-640: The admissibility of Docusign contracts in court based on encrypted audit logs of signature events, and the impossibility of changing contracts. In January 2007, Court Lorenzini stepped down as CEO and board chairman and was replaced as CEO by Matthew Schiltz, who served in that role until January 2010. Steven King replaced Schultz as CEO and moved the corporate headquarters from Seattle to San Francisco. Keith Krach became Docusign's board chairman in January 2010 and its CEO in August 2011. Docusign began referring to its service as “eSignature Transaction Management”. By

2190-408: The assumption of independent private values (that the value of IPO shares to each bidder is entirely independent of their value to others, even though the shares will shortly be traded on the aftermarket). Theory that incorporates assumptions more appropriate to IPOs does not find that sealed bid auctions are an effective form of price discovery, although possibly some modified form of auction might give

2263-425: The company announced it had raised $ 85 million in a new funding round. Though unconfirmed, The Wall Street Journal reported the round was based on a company valuation of $ 1.6 billion. In May 2015, the company announced it had raised $ 233 million in a new funding round, with some estimating a $ 3 billion company valuation. In 2018, the company announced plans for an initial public offering on

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2336-676: The end of 2010, the company had handled 73 percent of the SaaS -based electronic signature market, with 80 million signatures processed. Scale Venture Partners led an investment round of $ 27 million in December 2010. Docusign opened an office in London , England , in September 2011. In the same year, Docusign opened an office in San Francisco that now functions as its global headquarters. Docusign signed an agreement with PayPal in April 2012 that allowed users to capture signatures and payments in

2409-416: The entire underwriting spread. A member of the syndicate is entitled to the underwriting fee and the concession. A broker-dealer who is not a member of the syndicate but sells shares would receive only the concession, while the member of the syndicate who provided the shares to that broker-dealer would retain the underwriting fee. Usually, the managing/lead underwriter, also known as the bookrunner , typically

2482-550: The fall of the Republic and the rise of the Empire . In the United States, the first IPO was the public offering of Bank of North America around 1783. When a company becomes publicly listed, the money paid by the investing public for the newly issued shares goes directly to the company (primary offering) as well as to any early private investors who opt to sell all or a portion of their holdings (secondary offerings) as part of

2555-451: The final IPO prospectus is for the issuer to retain one of the major financial "printers", who print (and today, also electronically file with the SEC ) the registration statement on Form S-1. Typically, preparation of the final prospectus is actually performed at the printer, wherein one of their multiple conference rooms the issuer, issuer's counsel (attorneys), underwriter's counsel (attorneys),

2628-446: The firm has vigorously denied. On 27 March 2015, after a month-long trial, the jury found against Pao on all claims. In June 2015, Pao filed an appeal. In September 2015, Pao announced she would no longer appeal the jury verdict. In September 2018, Kleiner Perkins announced it was spinning out its digital growth team into a new independent firm. The firm announced its 19th fund on 31 January 2019 after raising $ 600 million. The fund

2701-592: The first day of trading. Prior to 2009, the United States was the leading issuer of IPOs in terms of total value. Since that time, however, China ( Shanghai , Shenzhen and Hong Kong ) has been the leading issuer, raising $ 73 billion (almost double the amount of money raised on the New York Stock Exchange and Nasdaq combined) up to the end of November 2011. Read More Kleiner Perkins Caufield %26 Byers Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers ( KPCB ),

2774-421: The highest bids that allow all shares to be sold, with all winning bidders paying the same price. It is similar to the model used to auction Treasury bills , notes, and bonds since the 1990s. Before this, Treasury bills were auctioned through a discriminatory or pay-what-you-bid auction, in which the various winning bidders each paid the price (or yield) they bid, and thus the various winning bidders did not all pay

2847-545: The initial complaint, Docusign "failed to disclose the role the COVID-19 pandemic had on its growth, including the positive impact on Docusign's business. [Docusign] also downplayed the impact that a 'return to normal' would have on the Company's growth and business." In 2023, the company's former CEO Daniel Springer filed a lawsuit against Docusign. While the company claimed that Springer had resigned, his lawsuit alleged that

2920-401: The investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded. After the IPO, shares are traded freely in the open market at what is known as the free float. Stock exchanges stipulate a minimum free float both in absolute terms (the total value as determined by

2993-431: The issuance of equity (see stock dilution ) without incurring any debt. This ability to quickly raise potentially large amounts of capital from the marketplace is a key reason many companies seek to go public. An IPO accords several benefits to the previously private company: There are several disadvantages to completing an initial public offering: IPO procedures are governed by different laws in different countries. In

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3066-458: The issued shares, the stock may fall in value on the first day of trading. If so, the stock may lose its marketability and hence even more of its value. This could result in losses for investors, many of whom being the most favored clients of the underwriters. Perhaps the best-known example of this is the Facebook IPO in 2012. Underwriters, therefore, take many factors into consideration when pricing an IPO, and attempt to reach an offering price that

3139-433: The larger IPO. An IPO, therefore, allows a company to tap into a wide pool of potential investors to provide itself with capital for future growth, repayment of the debt, or working capital. A company selling common shares is never required to repay the capital to its public investors. Those investors must endure the unpredictable nature of the open market to price and trade their shares. After the IPO, when shares are traded in

3212-442: The largest non-individual shareholders. In July 2018, Docusign acquired SpringCM for $ 220 million. In February 2020, Docusign acquired Seal Software for $ 188 million. On June 1, 2021, DocuSign acquired Clause, a smart legal contract technology startup. The company acquired Lexion, an AI-powered agreement management tool, in May 2024 for a reported $ 165 million. Docusign's services are offered either by subscription or through

3285-440: The largest shareholder, a position it held at the time of the IPO, with returns over $ 700 million. Between 2006 and 2009 Docusign raised $ 30 million that allowed the firm to add corporate clients and process 48 million signatures. In July 2012, Docusign raised $ 47.5 million in venture funding from investors including Kleiner Perkins Caufield & Byers ; the round later grew closer to $ 56 million. In March 2014,

3358-586: The lead underwriter in the head selling group is also the lead bank in the other selling groups. Because of the wide array of legal requirements and because it is an expensive process, IPOs also typically involve one or more law firms with major practices in securities law , such as the Magic Circle firms of London and the white-shoe firms of New York City. Financial historians Richard Sylla and Robert E. Wright have shown that before 1860 most early U.S. corporations sold shares in themselves directly to

3431-668: The lead underwriter(s), and the issuer's accountants/auditors make final edits and proofreading, concluding with the filing of the final prospectus by the financial printer with the Securities and Exchange Commission. Before legal actions initiated by New York Attorney General Eliot Spitzer , which later became known as the Global Settlement enforcement agreement, some large investment firms had initiated favorable research coverage of companies in an effort to aid corporate finance departments and retail divisions engaged in

3504-399: The market, money passes between public investors. For early private investors who choose to sell shares as part of the IPO process, the IPO represents an opportunity to monetize their investment. After the IPO, once shares are traded in the open market, investors holding large blocks of shares can either sell those shares piecemeal in the open market or sell a large block of shares directly to

3577-520: The marketing of new issues. The central issue in that enforcement agreement had been judged in court previously. It involved the conflict of interest between the investment banking and analysis departments of ten of the largest investment firms in the United States. The investment firms involved in the settlement had all engaged in actions and practices that had allowed the inappropriate influence of their research analysts by their investment bankers seeking lucrative fees. A typical violation addressed by

3650-627: The merger into NetUpdate. DocuTouch held patents on Web-based digital signatures and collaboration. With internal support from Gonser, Lorenzini negotiated the purchase of certain DocuTouch assets from NetUpdate and started Docusign. Gonser then left the NetUpdate Board to focus on Docusign full-time. The firm began sales in 2005 when zipForm, now zipLogix, integrated Docusign into its virtual real estate forms. According to Docusign, mock trials featuring licensed attorneys and judges highlighted

3723-427: The offering, it is estimated that with the level of demand for the offering and the volume of trading that took place they might have left upwards of $ 200 million on the table. The danger of overpricing is also an important consideration. If a stock is offered to the public at a higher price than the market will pay, the underwriters may have trouble meeting their commitments to sell shares. Even if they sell all of

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3796-826: The original founders, notable members of the firm have included individuals such as John Doerr , Vinod Khosla , and Bill Joy . Colin Powell joined as a "strategic" partner in 2005, while Al Gore joined as a partner in 2007 as part of a collaboration between Kleiner Perkins and Generation Investment Management . Mary Meeker joined the firm in 2010, and that year Kleiner Perkins expanded its practice to invest in growth stage companies. Meeker departed in 2019 to found Bond Capital. Mamoon Hamid from Social Capital and Ilya Fushman from Index Partners joined in 2017 and 2018 respectively, both as investing partners. The New York Times has described Kleiner Perkins as "perhaps Silicon Valley 's most famous venture firm". The firm

3869-401: The physical delivery of the stock certificates to the clearing agent bank's custodian or a delivery versus payment (DVP) arrangement with the selling group firm. "Stag profit" is a situation in the stock market before and immediately after a company's initial public offering (or any new issue of shares). A "stag" is a party or individual who subscribes to the new issue expecting the price of

3942-443: The proposed offering are disclosed to potential purchasers in the form of a lengthy document known as a prospectus . Most companies undertake an IPO with the assistance of an investment banking firm acting in the capacity of an underwriter. Underwriters provide several services, including help with correctly assessing the value of shares (share price) and establishing a public market for shares (initial sale). Alternative methods such as

4015-636: The public without the aid of intermediaries like investment banks. The direct public offering (DPO), as they term it, was not done by auction but rather at a share price set by the issuing corporation. In this sense, it is the same as the fixed price public offers that were the traditional IPO method in most non-US countries in the early 1990s. The DPO eliminated the agency problem associated with offerings intermediated by investment banks. The sale (allocation and pricing) of shares in an IPO may take several forms. Common methods include: Public offerings are sold to both institutional investors and retail clients of

4088-452: The public, at a fixed price , through a secondary market offering . This type of offering is not dilutive since no new shares are being created. Stock prices can change dramatically during a company's first days in the public market. Once a company is listed, it is able to issue additional common shares in a number of different ways, one of which is the follow-on offering . This method provides capital for various corporate purposes through

4161-522: The quiet period, the shares cannot be offered for sale. Brokers can, however, take indications of interest from their clients. At the time of the stock launch, after the Registration Statement has become effective, indications of interest can be converted to buy orders, at the discretion of the buyer. Sales can only be made through a final prospectus cleared by the Securities and Exchange Commission. The final step in preparing and filing

4234-413: The registration statement effective. During this time, issuers, company insiders, analysts, and other parties are legally restricted in their ability to discuss or promote the upcoming IPO (U.S. Securities and Exchange Commission, 2005). The other "quiet period" refers to a period of 10 calendar days following an IPO's first day of public trading. During this time, insiders and any underwriters involved in

4307-549: The same price. Both discriminatory and uniform price or "Dutch" auctions have been used for IPOs in many countries, although only uniform price auctions have been used so far in the US. Large IPO auctions include Japan Tobacco, Singapore Telecom, BAA Plc and Google (ordered by size of proceeds). A variation of the Dutch auction has been used to take a number of U.S. companies public including Morningstar , Interactive Brokers Group , Overstock.com , Ravenswood Winery, Clean Energy Fuels, and Boston Beer Company . In 2004, Google used

4380-476: The settlement was the case of CSFB and Salomon Smith Barney , which were alleged to have engaged in the inappropriate spinning of "hot" IPOs and issued fraudulent research reports in violation of various sections within the Securities Exchange Act of 1934 . A company planning an IPO typically appoints a lead manager, known as a bookrunner , to help it arrive at an appropriate price at which

4453-458: The share price multiplied by the number of shares sold to the public) and as a proportion of the total share capital (i.e., the number of shares sold to the public divided by the total shares outstanding). Although IPO offers many benefits, there are also significant costs involved, chiefly those associated with the process such as banking and legal fees, and the ongoing requirement to disclose important and sometimes sensitive information. Details of

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4526-414: The shares should be offered. There are two primary ways in which the price of an IPO can be determined. Either the company, with the help of its lead managers, fixes a price ("fixed price method"), or the price can be determined through analysis of confidential investor demand data compiled by the bookrunner (" book building "). Historically, many IPOs have been underpriced. The effect of underpricing an IPO

4599-419: The stock to rise immediately upon the start of trading. Thus, stag profit is the financial gain accumulated by the party or individual resulting from the value of the shares rising. This term is more popular in the United Kingdom than in the United States. In the US, such investors are usually called flippers, because they get shares in the offering and then immediately turn around " flipping " or selling them on

4672-447: The underpricing of IPOs is less a deliberate act on the part of issuers and/or underwriters, and more the result of an over-reaction on the part of investors (Friesen & Swift, 2009). One potential method for determining to underprice is through the use of IPO underpricing algorithms . Other researchers have discovered that firms with higher revenues from licensing-based technology commercialization exhibit greater IPO underpricing, while

4745-491: The underwriter selling the largest proportions of the IPO, takes the highest portion of the gross spread , up to 8% in some cases. Multinational IPOs may have many syndicates to deal with differing legal requirements in both the issuer's domestic market and other regions. For example, an issuer based in the E.U. may be represented by the major selling syndicate in its domestic market, Europe, in addition to separate group corporations or selling them for US/Canada and Asia. Usually,

4818-399: The underwriters. A licensed securities salesperson ( Registered Representative in the US and Canada) selling shares of a public offering to his clients is paid a portion of the selling concession (the fee paid by the issuer to the underwriter) rather than by his client. In some situations, when the IPO is not a "hot" issue (undersubscribed), and where the salesperson is the client's advisor, it

4891-405: The viewpoint of the investor, the Dutch auction allows everyone equal access. Moreover, some forms of the Dutch auction allow the underwriter to be more active in coordinating bids and even communicating general auction trends to some bidders during the bidding period. Some have also argued that a uniform price auction is more effective at price discovery , although the theory behind this is based on

4964-417: Was an early Hewlett-Packard executive. Byers joined in 1977. It was the very first venture capital firm to open an office on Sand Hill Road and is credited with creating the cluster of venture capital firms in that area. Located in Menlo Park, California , Kleiner Perkins had access to the growing technology industries in the area. By the early 1970s, there were many semiconductor companies based in

5037-476: Was described by Dealbook in 2009 as "one of Silicon Valley's top venture capital providers", and The Wall Street Journal in 2010 called it one of the "largest and most established" venture capital firms. By 2019 it had raised around $ 9 billion in 19 venture capital funds and four growth funds. In May 2012, Ellen Pao , an employee, sued the firm for gender discrimination in Pao v. Kleiner Perkins , which

5110-438: Was formed in 1972 as Kleiner Perkins. When Caufield and Byers became partners as well, the name was changed to Kleiner, Perkins, Caufield & Byers (KPCB) in Menlo Park, California , with a focus on seed, early-stage, and growth companies. The firm is named after its four founding partners: Eugene Kleiner , Tom Perkins , Frank J. Caufield , and Brook Byers . Kleiner was a founder of Fairchild Semiconductor , and Perkins

5183-466: Was founded in 2003 by Court Lorenzini, Tom Gonser, and Eric Ranft. Tom Gonser came up with the idea when he was CEO of NetUpdate, a company he founded in 1998. Throughout its history, NetUpdate had acquired several companies, including an e-signature start-up in Seattle called DocuTouch, funded by Timberline Venture Partners, Bill Kallman, and Jeff Tung with $ 4M. Timberline invested another $ 1 million in

5256-1297: Was raising funds for a $ 500 million growth-stage clean-technology fund. In October 2010, the firm launched a $ 250 million fund called sFund to focus on social startups, with co-investors such as Facebook , Zynga and Amazon.com . In early 2016, the firm raised $ 1.4 billion in KP XVII and DGF III. The firm has been an early investor in more than 900 technology and life sciences firms since its founding, including Amazon.com , America Online , Applied Intuition , Beyond Meat , Citrix , Compaq , Electronic Arts , Genentech , Google , Glean , Intuit , Lotus Development , Netscape , Shazam , Shyp , Nest , Sun Microsystems , and Twitter . Some current investments include DJI , Handshake, Coursera , Shape Security, Farmers Business Network , Interos, IronNet Cybersecurity, Desktop Metal , Gusto , Plaid , Rippling , Robinhood , Slack , UiPath , Netlify , Loom , Viz.ai, and Looker . Very recent investments include Modern Health, Pillar, Future, TogetherAI and STORD. Kleiner Perkins paid $ 5 million in 1994 for around 25% of Netscape and profited from Netscape's IPO . Its investment of $ 8 million in Cerent

5329-574: Was replaced as CEO by Mary Agnes "Maggie" Wilderotter, and later Allan Thygesen as CEO on September 22, 2022. Thygesen assumed office on October 10. In April 2024, the company announced a significant expansion of its company strategy, opening up a new SaaS category — Intelligent Agreement Management — and launching Docusign IAM, an Intelligent Agreement Management platform and new line-of-business-focused applications to lead that category. In 2004, Docusign raised $ 4.6 million from Ignition Partners and Frazier Technology Ventures. In 2006, Sigma Partners became

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