The pandemic didn’t make DocuSign a household name like Zoom. But the aftermath has been just as brutal.
The provider of cloud-based document management services has shed 80% of its market value from its peak last year. That is identical to what Zoom Video Communications has given up since hitting its own peak in late 2020 just before the announcement of the first Covid-19 vaccines. The pandemic sparked a big jump in demand for both services, but DocuSign’s should have proven to be the more resilient of the two. More in-person meetings mean fewer Zoom calls, but companies forced to reduce their use of paper documents in a remote world are unlikely to go back to tedious paper-pushing even as offices reopen.