As emerging cloud software companies look to challenge incumbents, they're sometimes seeing deals slip. Investors are punishing them for it.
and Pivotal Software as well. All of them got punished by Wall Street, some much more than others.
"By becoming a two-product company, in the short run, it's harder to sell," DocuSign CEO Dan Springer told CNBC in an interview on Thursday before the company announced earnings. "You elongate the sales cycle. You put a short-term dampening, I think, on your billings, but you increase your long-term billings, because we have more to sell."
"Normally, we would have had a more straightforward e-signature only," said Springer, who was previously CEO of marketing software company Responsys, whichacquired for $1.5 billion in 2014. "They were interested in also looking at some of the CLM capabilities of SpringCM. And as we got to the sort of end of the quarter, we realized our normal sort of pacing and process would take longer. And it's a deal that closed 10 days after the end of the quarter.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street rallies on rate cut hopes, trade optimismWall Street's main indexes rose about 1% on Friday, as a sharp slowdown in ...
Read more »
Beyond Meat top choice for Wall Street after bullish resultsShares of Beyond Meat Inc surged 27% on Friday after the vegan burger maker fore...
Read more »
Microsoft Partners With Startup Truffle On Blockchain Developer Tools For Azure Cloud ServiceMicrosoft announced today that it is integrating tools built by the blockchain start-up Truffle into its Azure cloud computing platform to help both coders and non-coders alike build their own enterprise blockchain applications.
Read more »
Fox News host Brian Kilmeade says migrants are 'mocking' Trump's border wall by walking around it'More than 100 migrants ... just mocking the wall. Seen walking right around the unfinished wall. See, this is the reason to finish it, Congress,' Kilmeade said during a segment on Friday morning.
Read more »
Wall St. Week Ahead: Top U.S. bond managers betting bond market still has room to runU.S. bond fund managers are betting that the steep gains in Treasuries over the ...
Read more »