Significant and under-penetrated marketopportunity Enterprise Commercial VSBs (1) Number of Companies by Size, Industry andGeography (2) Average Contract Value (ACV) per Company by Size and Industry (3) $25BTAM (1)Estimated using the total number of companies in DocuSign’s immediate core markets globally across enterprises, commercial businesses, and VSBs, using data from various government data sources from each respective region and country, such as the US Census Bureau and Eurostat. (2)Calculated using internal company data based on actual customer spend by size and industry. (3)Total addressable market as of 2017. Market opportunity is calculated by estimating the total number of companies in our immediate core markets globally across enterprises, commercial businesses, and VSBs and applying an ACV to each respective company using internally-generated data of actual customer spend based on the company’s size, industry, and location. The aggregate calculated value across all of these markets represents estimated TAM. The ACV applied to the estimated number of companies in each market is calculated by leveraging internal company data on actual customer spend by size and industry. For our enterprise customers, we have applied the median ACV of our top 100 global customers, which customers we believe have achieved broader implementation of our solution across their organization. Additionally, the ACV applied to non-enterprise businesses in international markets was reduced to account for differences in the pricing of goods and services in various international markets relative to the United States using data provided by the Organization for Economic Co-operation and Development. 11
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