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.

  • Financials: Docusign reported a $52 million net loss on around $518 million in revenue for its most recent fiscal year.
  • Stock: It will trade on the Nasdaq under ticker DOCU, while Morgan Stanley was lead manager.
  • Investors: The company had raised over $550 million in VC funding from firms like Sigma Partners (12.9% pre-IPO stake), Ignition Partners (11.7%), Frazier Technology Ventures (7.2%), GV and Kleiner Perkins.

Go deeper with Bloomberg's Lizette Chapman, who details Docusign's 15-year path to IPO, including strategy shifts, acquisition offers, board squabbles and CEO swaps.

Go deeper

Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 32,647,382 — Total deaths: 990,473 — Total recoveries: 22,527,593Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 7,053,171 — Total deaths: 204,093 — Total recoveries: 2,727,335 — Total tests: 99,488,275Map.
  3. States: U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.

America on edge as unrest rises

Louisville on Wednesday. Photo: Jon Cherry/Getty Images

Rarely have national security officials, governors, tech CEOs and activists agreed as broadly and fervently as they do about the possibility of historic civil unrest in America.

Why it matters: The ingredients are clear for all to see — epic fights over racism, abortion, elections, the virus and policing, stirred by misinformation and calls to action on social media, at a time of stress over the pandemic.

Bryan Walsh, author of Future
3 hours ago - Health

The long-term pain of the mental health pandemic

Illustration: Sarah Grillo/Axios

A less visible but still massive trauma caused by the coronavirus is becoming clear: our mental health is suffering with potentially long-lasting consequences.

Why it matters: Mental health disorders that range from schizophrenia to depression and anxiety exert a severe cost on personal health and the economy. Addressing that challenge may require out-of-the-box solutions.