The two companies have been partners, with Dropbox users able to use DocuSign to e-sign the documents that they store in the cloud. That survey even asked about other e-signature vendors, including HelloSign, and what processes the hypothetical new feature could replace, he wrote. In fact, Dropbox had recently sent out a survey asking users whether they would be interested in using a Dropbox e-signature feature, Piper Jaffray's Alex Zukin said in a note to clients. "We're thrilled to welcome HelloSign's talented team to Dropbox and add their capabilities to our product suite."įor some Wall Street analysts who watch Dropbox closely, this move was unsurprising - to them, it was an obvious move to counter DocuSign, the $8 billion leader in the e-signature space, even as Dropbox looks to deepen its product offerings for larger business 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," Dropbox's cofounder and CEO, Drew Houston, said in a statement. HelloSign was founded in 2011 and had raised $16 million in funding. This deal is expected to close in the first quarter of the year. Analysts agree that this is a strong move for Dropbox, hinting that the company could be making a bolder move for larger businesses.ĭropbox on Monday announced plans to acquire the e-signature startup HelloSign for $230 million, the largest acquisition to date for the nearly $10 billion cloud-storage company. Last fall, the $8 billion DocuSign acquired a cloud-based document-management platform called SpringCM, a move that could bring it into direct competition with Dropbox.Some analysts see this deal, which is expected to close in the first quarter of the year, as a pushback at the leading e-signature company DocuSign - a partner to Dropbox that may have turned into something of a frenemy.When the nearly $10 billion cloud-storage company Dropbox announced Monday that it planned to acquire the e-signature startup HelloSign for $230 million, analysts were not surprised.
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