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Docusign becomes latest tech "unicorn" to go public

Illustration: Lazaro Gamio / Axios

E-signature platform Docusign raised $465 million in its IPO, pricing its shares above the expected range for an initial market cap north of $4.4 billion.

Why it's a big deal: Docusign last raised VC funding at around a $3 billion valuation, so this means public market premiums for private "unicorns" aren't just reserved for consumer-facing companies like Dropbox and Spotify.