Cloud companies warning of 'sales execution' problems are getting crushed by Wall Street

and Pivotal Software as well. All of them got punished by Wall Street, some much more than others.

"By becoming a two-product company, in the short run, it's harder to sell," DocuSign CEO Dan Springer told CNBC in an interview on Thursday before the company announced earnings. "You elongate the sales cycle. You put a short-term dampening, I think, on your billings, but you increase your long-term billings, because we have more to sell."

"Normally, we would have had a more straightforward e-signature only," said Springer, who was previously CEO of marketing software company Responsys, whichacquired for $1.5 billion in 2014. "They were interested in also looking at some of the CLM capabilities of SpringCM. And as we got to the sort of end of the quarter, we realized our normal sort of pacing and process would take longer. And it's a deal that closed 10 days after the end of the quarter.

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