Domo founder and CEO Josh James Domo Domo is led by its charismatic founder CEO Josh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. Use Forbes logos and quotes in your marketing. Who topples. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. Domo CEO Josh James steps down, John Mellor promoted Slack For more than two years, the company has been leasing a private jet owned by a partnership called JJ Spud, which is controlled by James, at a rate of $3,276 per flight hour. 2023 Forbes Media LLC. Domo "But I have to admit, I am always surprised when founders stay as long as James did.". As Domo offered 9.2 million shares at $21 apiece (slightly above the mid-point of its $19-$21 price range), the gross proceeds were $193 million. Who is thrilled. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). The software company is considered one of Utahs few unicorns privately held startups valued at $1 billion or more though its finances raised questions when it went public in 2018. Who is missed. Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. John Mellor, chief Provo mayor renames Bulldog Boulevard to Cougar Boulevard, Bill to remove state food tax also removes constitutional earmark for education, Jordin Sparks kicks off first in-person RootsTech since 2020, Bro-less wins annual Student Innovator of the Year competition. Josh Jamess duties as CEO will be taken over by John Mellor, most recently Chief Strategy Officer at Domo Inc. Josh Jamess move coincides with a management shake-up also involving the position of Chief Operating Officer. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. To subscribe, click here. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Domo Launches 'Business Cloud,' Makes Its Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. Who steps down. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. In disclosing risks, the annual report also notes that the way Domos common stock is structured in two classes concentrates voting control with James. With two legislative days remaining until Who loses. James resigned his employment with the Company effective March 1, 2022.. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. While that money can support smaller emerging companies popular with Domos cloudusers, such a fund might also raise eyebrows as a sign of the company lacking focus for its time and money. How Josh James landed $125 million in funding from his Required fields are marked *. The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. Domo Who resigns. Who goes ahead. Clark is a longtime tech executive and the current chair of the Go Utah Board, which serves as the board of directors to the Governors Office of Economic Opportunity. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. You may opt-out by, Covering venture capital, cloud and startups, BOX CEO Aaron Levie Talks Trump, Tech, And How To Stay Nimble As A Public Software Company, 5 Ways Machine Learning Has Influenced The Modern Cloud, How Digital Disruption Transcends Industry Borders, The 3 Tech Buzzwords Every CEO Should Know, Google Cloud Shakes Up Its Customer Support To Bring Its Engineers To Customers, Microsoft And NVIDIA Announce HGX-1 Platform Standard For AI/ML Cloud Computing, GitHub Overhauled Its Pricing Plans Because Customers Now Want The Cloud, Box Uses API Lego-Style Brick Theory To Connect More Data, Weve been working five years for this, to create the worlds first business cloud,, I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business., Weve been working five years for this, to create the worlds first business cloud,, I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business.. WebDomo insiders say that CEO Josh James faced a sharp backlash, and eventually apologized, after telling a story at an all-hands meeting that made some employees feel Who is family. Who keeps going. James has served on the board of directors of various privately held and public companies. Whos out. Who regrets. "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. Who is up. Who exits. Josh James received $537,000 in salary, bonus and other compensation last year; but it looks like he may have pocketed more with these side deals. James was the co-founder of Omniture, Inc., a provider of online business optimization products and services, and from 1996 to 2009, he served as its chief executive officer. Who repeats. Domo also has bought $200,000 in furnishings from Alice Lane Home Collection, an interior design company partially owned by James, at which Drew James, another brother, is an executive. Domo employee Domonique Stephan said she realized she would need to take advantage of the benefit, which helps employees pay for in vitro fertilization or other fertility services, a few months after she was hired. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? SAP seems like a likely suitor. Why Domo's IPO Valuation Is Down Over 75% From Its Last Funding Round, Domo's Rumored $2 Billion Valuation Looks Steep Given Operating Metrics, Competition, Utah Unicorn Domo Files To Go Public, Latest Tech Startup To Cash In On IPO Rush, American Dream Leadership Series #3: Catherine Wong, DOMO, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. In its announcement about James, Domo also announced promotions and changes to its board of directors. Who is selected. Who is a friend. You can find out more about which cookies we are using or switch them off in settings. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. James sold Omniture to Adobe in 2009 for $1.8 billion. Please enable Strictly Necessary Cookies first so that we can save your preferences! This year, however, it will be Mellor who will be front and center as CEO. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. Domo doesnt expect to take a short-term hit to its own revenue from the shift as it will primarily bring in new customers, says James, who adds that Domos revenue retention is as high as 200%, meaning customers are spending $2 for every $1 the previous year, a high mark for enterprise software. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. After selling Omniture to Adobe for $1.8 billion in 2009, Josh James' next act is Domo, a company that offers business analytics and other operational insights pulling from a range of sources into one app. Why not us?. Domo Announces Leadership Transition - Yahoo! He currently serves on the board of a newly organized special purpose acquisition company. Who contributes. Who kicks back. Who is confidant. To accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. Domo insiders say that CEO Josh James faced a sharp backlash, and eventually apologized, after telling a story at an all-hands meeting that made many , which announced an $80 million fund in December. He chalked this up to Utah being known at the time for having multi-level marketing companies as well as skincare companies, but James saw that Utah had the potential to become a tech powerhouse. Who is praised. Josh James.Domo.01 | Fortune Josh James Domo Another aspect of James management that should unnerve investors is his apparent predilection for using Domo as his personal piggy bank, with family members given drawdown rights. Can religion save us from Artificial Intelligence? Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. Who is left. Salesforce just spent $15.3 billion on Tableau in its biggest deal ever, meaning it might be disinclined to write another large check for a similar company, Wang notes. His concentration, dedication, and hard work have assisted him to get this position. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. Who signs. Domo offers cloud software for "business intelligence and analytics." Who comes. Who is good. This is based on 32.8 million weighted average sales outstanding basic and diluted. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. Most recently, the vendor added collaborative development capabilities in September 2021 and launched a more efficient version of Domo Everywhere, its embedded analytics platform, in June 2021. Domo being investigated by state over CEO's remarks Who goes through hell. Sign up for notifications from Insider! Who tumbles. It took me four years to get rid of liquidation preferences at Omniture, says James, referring to provisions that often guarantee later investors get paid a certain amount or receive additional shares at an IPO. Who is Who. Who crumbles. Josh James is on Facebook. By clicking Sign up, you agree to receive marketing emails from Insider EPS and Revenue estimates are for the next 12 months. Now they want to use AI to find your friends too. (Sydnee Gonzalez) Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership transition, effective immediately, that leverages the breadth and depth of the companys existing talent to promote continued growth.. As part of its app push, Domo said it has 1,000 partnered business apps in its new app store, while making its original core business free for most users. Who pays. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". Domo acknowledges in its disclosure statement that Standard & Poors will be excluding companies with these structures from some of its indexes, and other index owners may follow suit. "I am extremely optimistic about our future and the horsepower of the entire Domo team," he said in a release about the personnel moves. Who gives in. Who leaves early. Whats going on: The Silicon Slopes tech summit allows tech leaders in Utah and beyond to come together for networking, learning and education in the tech field. The startup from Silicon Slopes, Utah, is turning heads with WebJosh James sold his first company to Adobe for $1.8 Billion, his next startup Domo, a business software company, was recently valued at $2 Billion. He has some kind of unconventional rules, Dyer said about James business strategy. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Likewise, Henschen said Domo is in good hands with its new CEO and COO. Sign up and receive our free newsletter every Monday morning. Members of the public flooded the State Capitol again on Tuesday. Domo "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. Who is honored. It was profitable and already kicking off $100m a year in cash flow.". This website uses cookies so that we can provide you with the best user experience possible. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! Youd think, Who owns that house,' or, Who owns that company,' James said. Josh James, who founded Utah-based tech company Domo in 2010 and earned more than $12.3 million there in 2021, resigned effective March 1, according to a as well as other partner offers and accept our. Who has the last word. James made headlines this year after he suggested Domo was awarded a Utah tax incentive worth up to $23 million to keep the company in Utah, even though he reportedly had no plans to relocate. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. Stay up to date with what you want to know. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. The economic uncertainty resulting first from the COVID-19 pandemic and now Russia's invasion of Ukraine have been difficult for corporate CEOs, and it would be no surprise if the stress of the past two years played a role in James' decision, Henschen continued. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. Domo is scheduled to host its annual user conference, Domopalooza, March 23, and for the first time will have someone other than James as its leader. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. Whos number 2. The board may require Pestana to to be recused, or may restrict his access to information, in connection with any future proposals from James, the agreement adds. This has led him to achieve the position of one of the richest persons in the world. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. Do Not Sell or Share My Personal Information, chief strategy officer of Domo since 2019, one of the first to pivot to a virtual conference, MicroScope March 2020: Making life simpler for the channel. Read the full story in the exechange report 10.2022 ($). Who is big kahuna. (Credit: Domo). Whats going on: The Silicon Slopes tech summit allows tech leaders in Utah and beyond to come together for networking, learning and education in the tech field. Domo As for James crowing about the lack of competition, you can treat that statement as inoperative. Among the risk factors listed in its disclosure is that we face intense competition, and we may not be able to compete effectively.. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. Who resigns. Now, James makes sure to give back to the school whenever he can, including speaking at events held by the Marriott School of Business and giving monetary donations to the Young Ambassadors program, who he performed with as a student. Silicon Slopes: Qualtrics CEO says Everything I got came from Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. Who fights for honor. With John Pestanas appointment, the size of the Board will increase from seven to eight members. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. Earlier this year, analysts identified Domo as a likely candidate to be the next big cloud acquisition, especially after Salesforce bought Tableau, a major rival to the company, and Google snatched up the similar Looker. Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. Got a tip? "I hadn't heard any rumors of him stepping down," he said. Cookie Preferences Keeping this cookie enabled helps us to improve our website. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Who is refunded. People called it an "insta-unicorn,"meaning that by the time the tech world was paying attention, investors had already poured enough money into it that it was valued at more than $1 billion. Who is silent. Says James: Haters gonna hate., This is a BETA experience. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership Clearly, Josh James was a big personality. Who quits. But Domo seems to have rebounded, with the company reportingbetter-than-expected first-quarter results on Thursday. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015. James has been talking about this IPO since 2015. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Joshua G. James, the Companys founder, served as the Companys chief executive officer and as a member of the Companys board of directors since 2010. What makes Utah companies different is there are so many families.. He also previously co-founded and served as CEO of Omniture, a web analytics company. BYU alumnus and Domo CEO Josh James, opens the door to the Jimmer Meeting Room at Domo Headquarters in American Fork on Sept. 30. Who is ousted. Who mourns. Editors note This story is available to Salt Lake Tribune subscribers only. deductible, Report a missed paper by emailingsubscribe@sltrib.comor calling801-237-2900, For e-edition questions or comments, contact customer support801-237-2900or emailsubscribe@sltrib.com. Who bows out. Josh James Its accumulated deficit as of April 30 is more than $803 million. James attended Brigham Young University for three and a half years and studied entrepreneurship. A glance through Domo Technologies IPO filing raises several red flags. Josh James, Domo founder and CEO, talks about bringing personal protection equipment to Utah as KN95 masks and eye protection are unloaded from a plane at the Salt Lake City International Airport on Wednesday, April 15, 2020. Given that Domo -- which went public in 2018 -- is on a growth trajectory and continues to invest in its platform, James stepping down as CEO is not evidence of any problems with the vendor, according to Doug Henschen, an analyst at Constellation Research. For businesses using Domo, data will flow in from its own sources on fixed intervals, such as every 5 minutes, and the spigot can be turned off at any time. The registration statement reveals that Domo will have a two-class stock structure, with Class A, owned entirely by James, granted 40 votes per share; Class B, owned by everyone else, will be granted one vote per share. The acquisitions of Tableau and Looker prove that data analytics is a hot market, with Domo as one of the last large independent companies. Josh James, who founded Utah-based tech company Domo in 2010 and earned more than $12.3 million there in 2021, resigned effective March 1, according to a company news release. Who earns it. Who stands by. Josh James (@domojosh) Instagram photos and videos In a shuffling of its board of directors, Carine Clark, who joined the board in 2019, was appointed as executive chair. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Josh James Domo is a famous person who is known worldwide for his work. Who wishes luck. Who is host. Who is major. Whos obsolete. Kehoe, the Domo spokeswoman, said "Josh feels great about the acquisition of Omniture to Adobe and how it became a bright shining star and a big chunk of Adobe's overall strategy and business. Who is well. Who excites. With the IPO filing on June 1, however, the curtain has opened on Domos performance. There are several important variables within the Amazon EKS pricing model. Domo Chief Financial Officer Bruce Felt's previous company SuccessFactors, where he was also CEO, sold to SAP for $3.4 billion back in 2012. This arrangement can work when control is placed in the hands of a genuinely visionary and effective founder. Domo, +2 more Who is good man. "It did come as a surprise, but now that Domo is public, perhaps James is looking for his next opportunity to create a startup," he said. James has resigned as CEO of Domo. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Who benefits. In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. Who has to go. Who obeys. Who is a leader. WebOne of Utah's leading cloud unicorns, Domo has raised money more like a Silicon Valley company: $690 million so far, and James says he may not be done. Who is replaced. It was the second biggest SaaS company after Salesforce and was on pace to do a robust $500m in revenue. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. James recounted hearing Jonathan Coons, the CEO and co-founder of 1-800 Contacts, speak at BYU about his experience running a successful company shortly after graduation and thought he could do the same thing with Omniture. But that may not be the most disturbing aspect of the IPO filing. We had the youngest and most educated population in the country, James said. Contact Ashley Stewart via email atastewart@businessinsider.com, message her on Twitter @ashannstew, or send her a secure message through Signal at 425-344-8242. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. Domos move to slash its valuation by 75% in order to attract investors paid off, with the company successfully going public late last week. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. We face intense competition, and we may not be able to compete effectively. Who is fired. Utah tech companies facilitate Last year was the big reveal, until it wasnt. Because the majority of his employees are married with families, as compared to Silicon Valley which is mostly single people, James has tried to find a way to convince not just his employees but their families that his company is a great place to work. And the picture confronting would-be buyers is not pretty. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. Who presides. Regardless of Domo's newly-solid footing, however, it's long been eyed as a potential takeover target. Who helps. The business intelligence software industry is intensively competitive, with players having to constantly innovate and differentiate their features in order to attract and retain customers. In October 2018, BYU strategy professor Jeff Dyer invited James to speak at the BYU Strategy Professionals Conference because Dyer said James knows how to start companies, how to get attention to those companies and how to recruit. Who says what. Kristin Murphy, Deseret News 8of 9 Who sees green. I look forward to seeing the next generation of management take Domos performance to the next level.. Who accepts. Comparing Domo's Sales And Marketing Spend With Tableau's, Comparing Domo's Growth And Valuation To Anaplan's. Josh James $2 billion startup Domo just made a big reveal. Who is groomed. The pitch for Domo was that it would fill in some of the gaps in enterprise data analysis that Omniture had left open, providing access to real-time marketing information that would help CEOs run their companies more efficiently. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. A company agreement with James, filed with the Securities and Exchange Commission, says that if Pestana leaves the board before the agreement terminates in 2023, James will be entitled to identify a new independent director to replace him. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. Again. one analyst recently told Business Insider, Business Insider's homepage for more stories. Who is successful. Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. Who serves. In pink tops and white pants, women celebrate free period products becoming available in Utahs state buildings, Proposal to boost Utah bar licenses gets smaller with another round of cuts by lawmakers, Moab, Park City cry foul as Utah lawmakers target rules for vacation homes. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. The company retained the tax benefit, known as Economic Development Tax Increment Financing. Industry analyst Ray Wang of Constellation Research identified SAP and Google as potential acquirers, while other names that have come up include Amazon Web Services and Salesforce. James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. James said his company was so advanced that we dont really have a competitor yet.. Domo CEO Josh James says his company's move Tuesday to a freemium model and new app ecosystem are the result of a big five-year reveal while announcing $130 million in new funding. Meet Datanami 2021 Person to Watch Josh James Who is familiar. Who betrays. Join Facebook to connect with Josh James and others you may know. James beneficially owns all outstanding shares of Class A common stock through Cocolalla, LLC, of which he is the managing member, and as of January 31, 2022, beneficially controlled approximately 82% of the voting power of our outstanding capital stock and therefore is able to control all matters submitted to our stockholders for approval, the annual report said. Domo has raised nearly $730 million in venture funding all told, and was valued at $2.28 billion in 2017, after its latest $115 million round in December 2017. Privacy Policy Who wants to go. (Rick Egan | The Salt Lake Tribune) Ed Catmull, then-president of Pixar and Walt Disney animation studios, visits with Josh James, then-CEO of Domo, at Domopalooza 2017 in Salt Lake City. We keep you up to date on the latest CEO changes. Whos old. It had been in stealth mode until then, its founder and chief executive, Josh James, explained, building up its customer base and refining its products in secret. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. Who hurts. In James set-up, he showed off the different metrics needed for board meetings with his investors (but not too closely for FORBES to see all the data). Who steps back. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. meaning that by the time the tech world was paying attention, investors had already poured enough money into it that it was valued at more than $1 billion.
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