DocuSign stock saw a 15% increase and closed 12% higher on Friday following reports from the Wall Street Journal that the e-signature software company is considering a potential sale. Discussions are in the early stages, according to sources familiar with the matter cited by the Journal. DocuSign Stock has not yet commented on the report.

After experiencing a nearly 66% decline in value last year, DocuSign’s recovery has been less remarkable compared to many other technology companies. The stock has risen by 16% in 2023, while the Nasdaq Composite has increased by 41%. With a market capitalization of approximately $13 billion, DocuSign Stock went public in 2018 and experienced a surge in demand during the pandemic for technology enabling remote collaboration on documents. However, its growth has significantly slowed since the reopening of the economy, and it continues to face competition from Adobe and Dropbox.

One year ago, DocuSign Stock appointed former Google executive Allan Thygesen as CEO, succeeding Dan Springer. Shortly after, the company implemented layoffs, leading to a 22% drop in stock value on March 10. Following this, the company announced the departure of finance chief Cynthia Gaylor and advised investors to anticipate a single-digit quarterly revenue increase, a significant decrease from the growth of over 50% during the Covid period.