DocuSign Is Valued At $3 Billion, But Is Still Missing A CEO

DocuSign is one of Sillicon Valley's hottest startups and is valued at $3 billion. he company provides electronic signature technology and digital transaction management services. And the company doesn't have a Chief Executive Office calling the shots.

DocuSign quickly grew in size given its quick and secure way to sign a document electronically without the need to print a document; sign it only to then scan it.

According to Bloomberg, DocuSign has been without a CEO after Keith Krach resigned from the company's top ranks last October. He has been running the company since 2011 and oversaw several financing rounds and more than $500 million in total financing. Related Link: 4 Effective Portfolio Management Tips

Krach's resignation was due to his decision to go against pressure from large investors who demanded DocuSign either go public or sell itself.

An unnamed successor was found earlier this year, but the person backed out of the last minute and chose to work at "another company with unlimited resources."

Bloomberg identified the individual as Rick Osterloh who accepted a job at Alphabet Inc GOOG GOOGL as senior vice president of hardware.

Bloomberg also suggested Enrique Salem, managing director of Bain Capital Ventures is in the running to be DocuSign's next CEO.

A decision is expected to be made next month, which should end the search process that has taken more than twice as long as it should to place a CEO at a private tech company.