Dropbox announced today that it intends to purchase HelloSign, a company that provides lightweight document workflow and e-signature services. The company paid a hefty $230 million for the.
Dropbox, the leading global platform for syncing and sharing files in the cloud, has announced that it has agreed to pay a hefty $230 million to HelloSign.
HelloSign, the San Francisco based company that provides lightweight document workflow and e-signature services, has more than 80,000 customers including Instacart, Intuit, and Lyft.
Dropbox announced today that it intends to purchase HelloSign, a company that provides lightweight document workflow and e-signature services. The company paid a hefty $230 million for the. Dropbox said Monday that it’s acquiring electronic signature start-up HelloSign for $230 million in cash, its largest purchase ever.
On January 28, 2019, Dropbox announced its intention to acquire HelloSign, a platform used to manage business transactions including eSignature and document-centric workflows. HelloSign joined Dropbox’s Extensions partner program (launched in November of 2018), offering digital signature and electronic fax features from inside the Dropbox interface. In our annual online surveys on enterprise. Dropbox announced it has agreed to acquire HelloSign for $230 million.HelloSign has developed an electronic signature and document workflow platform. With the deal, DBX is seeking to.
Dropbox sales team will work on promoting HelloSign to its users but will continue to work with other electronic signature providers as well. For now, HelloSign will operate as an independent company.
According to Quentin Clark, Dropbox’s SVP of Engineering, this deal is about more than just bringing electronic signature functionality to Dropbox’s platter. In a talk with TechCrunch, Clark said,
“What is unique about HelloSign is that the investment they’ve made in APIs and the workflow products is really so aligned with our long-term direction. It’s not just a thing to do one more activity with Dropbox, it’s really going to help us pursue that broader vision.”
Dropbox has exceeded analysts’ estimates in each of its first three quarterly earnings reports as a public company, but it hasn’t done much to gain investors’ interest since its debut in March at $21 per share.
Coming out of the year of the IPO, the next question is ‘How are we going to continue to broaden the jobs we do for customers?’, Clark told CNBC on Friday.
Dropbox And Hellosign
Users can apply their signatures to digital documents and ask for the same from others via HelloSign. Companies can also embed the HelloSign signature system into their own software, and this technology is available in products from Google, Salesforce, as well as Dropbox.
Whitney Bouck, HelloSign’s chief operating officer, in an interview said that HelloSign has tools for virtually faxing documents and managing the flow of paperwork, but its signature tool is the most popular among all.
Joseph Walla, CEO HelloSign, says that its deal with Dropbox gives HelloSign access to resources of a much larger public company, which should allow it to reach a broader market than it could on its own. “Together with Dropbox, we can bring more seamless document workflows to even more customers and dramatically accelerate our impact,” Walla stated.
Other companies such as DocuSign Inc. and Adobe Inc. also offer software for electronic signatures. Users can embed this software into websites or include the tools in documents that employees or customers need to fill out. For example, Instacart, which works on delivering groceries to customers, uses HelloSign to help people complete the sign-up form.
HelloSign is also working to replace PDF- a document format created by Adobe to display documents. Walla had to say that PDF is ill-suited for viewing and filling out filling out forms on mobile phones.
This move will put Dropbox in direct competition with Adobe and DocuSign, with the potential to bring more big businesses to the company’s core file sharing and collaboration products.Written By
With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!Follow
SAN FRANCISCO--(BUSINESS WIRE)--Dropbox, Inc. (NASDAQ: DBX), a leading global collaboration platform, today announced it has entered into a definitive agreement to acquire HelloSign, an eSignature and document workflow platform with more than 80,000 customers.
“With over an exabyte of data on our platform, millions of people already use Dropbox as a place to collaborate on their most important content,” said Dropbox Co-founder and Chief Executive Officer Drew Houston. “We’re thrilled to welcome HelloSign’s talented team to Dropbox and add their capabilities to our product suite. HelloSign has built a thriving business focused on eSignature and document workflow products that their users love. Together, we can deliver an even better experience to Dropbox users, simplify their workflows, and expand the market we serve.”
Some of life’s most important moments require signing documents or completing forms — from opening an investment account or buying an apartment, to signing a major new customer or hiring a new employee. But even today, millions of people still rely on legacy pen and paper to complete these tasks, resulting in an inefficient and fragmented experience. HelloSign’s simple, easy-to-use product suite spans capabilities like eSignature and online fax with HelloSign and HelloFax, to fully customizable document workflow solutions with HelloWorks and HelloSign API — improving everyday processes while also helping customers close deals faster, onboard new hires with ease, and complete documents without errors.
“We waste so much time using clunky tools that were designed for yesterday’s work environment,” said HelloSign Co-founder and Chief Executive Officer Joseph Walla. “Over the past 10 years, Dropbox has built a trusted global brand focused on transforming people’s working lives. We share a design philosophy based on building the best experience for end-users, fueling our efficient business models and sales strategies. Together with Dropbox, we can bring more seamless document workflows to even more customers and dramatically accelerate our impact.”
Under the terms of the agreement, Dropbox will acquire HelloSign for $230 million in cash, subject to customary purchase price adjustments and closing conditions. The acquisition is expected to close in Q1 2019.
Dropbox Acquires Hellosign
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 related to Dropbox’s acquisition of JN Projects, Inc. d/b/a HelloSign that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the proposed transaction, the anticipated timing of closing of the proposed transaction, our ability to integrate the platforms and potential growth opportunities. Words such as “will,” “can,” “expect,” and similar expressions are intended to identify forward-looking statements.
You should read any such forward-looking statements carefully, as they involve a number of risks, uncertainties and assumptions that may cause actual results to differ significantly from those projected or contemplated in any such forward-looking statement. Those risks, uncertainties and assumptions include the following possibilities, the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between the parties; the risk that the proposed transaction may not be completed in a timely manner or at all; the failure to satisfy any of the conditions to the consummation of the proposed transaction; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Dropbox and HelloSign do business; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; the ability to complete the acquisition and integration of HelloSign successfully; and other factors that may affect future results of Dropbox and HelloSign. Additional factors that could cause results to differ materially from those described above can be found in Dropbox’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, which is on file with the Securities and Exchange Commission (the “SEC”) and in other documents Dropbox files with the SEC.
Dropbox is a leading global collaboration platform that's transforming the way people work together, from the smallest business to the largest enterprise. With more than 500 million registered users across more than 180 countries, our products are designed to help unleash the world’s creative energy and establish a more enlightened way of working. Headquartered in San Francisco, CA, Dropbox has 12 offices around the world. For more information on our mission and products, visit dropbox.com.
HelloSign simplifies work for millions of people. Over 80,000 customers world-wide trust the HelloSign platform – which includes eSignature, document workflow and online fax solutions with HelloSign, HelloWorks and HelloFax – to automate and manage their most important business transactions. For more information visit http://www.HelloSign.com