Dropbox has recently announced its acquisition of HelloSign, for $230 million. The workflow capabilities that HelloSign added in 2017; were really the key to the purchase say Quentin Clark, Dropbox’s SVP of engineering.
Clark told the following to TechCrunch –
“What is unique about HelloSign is that the investment they’ve made in APIs; and the workflow products is really so aligned with our long-term direction. It’s not just a thing to do one more activity with Dropbox; it’s really going to help us pursue that broader vision”. That vision involves extending the storage capabilities that is at the core of the Dropbox solution.
HelloSign and the Merger –
HelloSign a start-up launched in 2011 by Joseph Walla and Neal O’Mara. The Company provides lightweight document workflow and e-signature services. It has around 80,000 customers, including Intuit, Lyft, Samsung and Twitter.
HelloSign users can apply their signatures to digital documents and ask for signatures from others. Companies can embed the HelloSign signature system into their own software; and the technology is available inside products from Google and Sales force, as well as Dropbox.
HelloSign also has tools for virtually faxing documents and managing the flow of paperwork; but the signature tool is the most popular, said Whitney Bouck. Whitney is HelloSign’s chief operating officer and a former Box executive, in an interview.
The company has made available ‘Dropbox Extensions’ to their partners like HelloSign. Through this, the users can access these extensions within their Dropbox account. You could also send a file for eSignature through PDF, DOC and DOCX files.
Regarding the deal’s closure, it’ll be done by this quarter.
How Users Can Operate These Features –
Dropbox and HelloSign are providing 2 platforms the “HelloSign Dropbox Extension” and the “HelloFax Dropbox Extension”. The users can complete eSignature flows and send faxes end to end from the company’s web interface. To use these platforms no installation or activation steps are required. The only requirement is to have a HelloSign or HelloFax account. These accounts can be easily being created the first time the user launches a signing workflow from Dropbox.
Once the user is logged into the HelloSign account, user will have all the functionality of HelloSign; they can format documents, assign signers, and send documents for signature.
Once the documents are sent, the users will be given a link to Dropbox. And the document will automatically sync to Dropbox at various stages of the signature process; including of course the final signed document at the end.
Faxing with the HelloFax Dropbox Extension will be a similar experience, but users will instead be taken to HelloFax where they can take advantage of 5 free fax pages (for new accounts) or sign up for a paid plan. Finished faxes will also sync back to Dropbox.
More Insight –
Note:- Users Get Three Free Months of a HelloSign Pro plan to every new HelloSign users who uses extension from Dropbox.
Bouck said the following – “We’re going to remain effectively a standalone business within the company’s family; so that we can continue to focus on developing the great products that we have and delivering value. So the good news is that our customers won’t really experience any massive change. They just get more opportunity.”
The company’s sales team will be promoting HelloSign to customers until they bundle and incorporate HelloSign functionality beyond the Extensions.
Alan Lepofsky is an analyst at Constellation Research who specializes in enterprise workflow. Alan sees HelloSign giving the company an enterprise-class workflow tool; but adds that the addition of Bouck and her background in enterprise content management is also a nice bonus for the company in this deal. He said, “While this is not an acqui-hire, Dropbox does end up with Whitney Bouck; a proven leader in expanding offerings into enterprise scale accounts. I believe she could have a large impact in the company’s battle with her former employer Box.”
It seems like the company became a competition to Adobe and DocuSign. This was after the company added the Extension Capability last year. Another reason could be this announcement of the acquisition of HelloSign. This also can potentially lure big businesses to company’s core file sharing and collaboration of products.