DocuSign priced its IPO Thursday evening at $29 per share, netting the company $629 million.
It was a better price than the e-signature company had been expecting. The initially proposed price range was $24 to $26 and then that was raised to $26 to $28.
The price gives the company a valuation of $4.4 billion on the eve of its public debut, above the $3 billion the company had raised for its last private round.
The IPO has been a long-time coming. Founded in 2003, DocuSign had raised over $500 million over the course of 15 years.
The company brought in $518.5 million in revenue for its fiscal year ending in 2018. This is up from $381.5 million last year and $250.5 million the year before. Losses for this year were $52.3 million, down from $115.4 million last year and, $122.6 million for 2016.
“We have a history of operating losses and may not achieve or sustain
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