Who is welcomed. Now Utahs tech sector is booming. He has been a front-facing personality at Domo, interacting with Menninger and his fellow analysts, and has demonstrated knowledge not only about the vendor itself but also the analytics market at large. Stay up to date with what you want to know. James said his company was so advanced that we dont really have a competitor yet.. In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. 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. Who serves. (Sydnee Gonzalez) Who is in quest. Silicon Slopes: Qualtrics CEO says Everything I got came from Who kicks back. Josh James is on Facebook. Thats the downside of how James has structured his company. At the companys annual event in Utah called Domopalooza, James and Domo announced a new mobile-based app store and "business cloud" and $130 million in additional funding that maintains its valuation at $2 billion. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';fnames[3]='MMERGE3';ftypes[3]='text';fnames[4]='MMERGE4';ftypes[4]='text';}(jQuery));var $mcj = jQuery.noConflict(true); exechange publishes weekly reports ($) on capital market-relevant executive changes. (The menu does look delicious, but there must be caterers in American Fork, Utah, that arent owned by the boss, remarked Shira Ovide of Bloomberg). The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. Who is over. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. 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. The new-look, mobile-first Domo took 2.5 years to build and test, the company says, while its been positioning itself to be able to go freemium with its business model for as long as five years, its CEO adds. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. James might be at the top of Silicon Slopes now, but he hasnt forgotten how his time at BYU allowed him to see that students like him could start successful companies. Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. But James has been heavily disinclined to sell, two banking sources told Business Insider. Who does well. 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. James resigned his employment with the Company effective March 1, 2022.. Domo CEO Josh James onstage at Domopalooza in 2015. We keep you up to date on the latest CEO changes. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. Who is fired. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. 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 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. Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. SAP seems like a likely suitor. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. Who is sad. The IPO wont change that materially. As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. Whos number 1. Again. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Who lies. As announced by Domo Inc. in a news release and in a regulatory filing published on Tuesday, March 1, 2022, Joshua G. (Josh) James leaves his post as chief executive officer at the cloud softwarecompany, after 12 years in the role, effective immediately. ( Rick Egan | The Salt Lake Tribune ) Josh James, CEO/founder of Domo, at right, speaks with Ed Catmull, president of Pixar and Walt Disney animation studios and Meet Datanami 2021 Person to Watch Josh James Meanwhile, Domo frequently partners with SAP-owned Qualtrics, which is also headquartered in the Provo, Utah area. I look forward to seeing the next generation of management take Domos performance to the next level.. Who is replaced. , which announced an $80 million fund in December. Who is major. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. Who has a vote. 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. "But I have to admit, I am always surprised when founders stay as long as James did.". In a demo for Forbes the week before the announcement, James showed off the Domo Mobile apps card-based design that allows users to pick what charts and data they want to see the most and then arrange each as a card to toggle through within the app. It isnt. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think He added: "Do I want to sell? Defeating Ransomware With Recovery From Backup. Copyright 2010 - 2023, TechTarget Josh founded Domo in 2010 to transform the way CEOs and other executives manage their business and to help drive value from the tens The CEO change and other personnel moves -- Carine Clark is now Domo's executive chair and John Pestana was appointed a new independent director -- come with Domo in a strong financial position. Who is under. Some of James pronouncements from a year ago havent quite panned out. Known in Utahs tech community as a successful entrepreneur, James co-founded Omniture with John Pestana and facilitated its $1.8 billion acquisition by Adobe before starting Domo. 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. Who is at eye level. Who is a follower. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. Eventually, others joined the cause, including other tech CEOs from around the state. About Press Copyright Contact us Creators Advertise Developers Who is right. 2018 is already shaping up to be a good year for enterprise tech IPOs with Dropbox now public and Pluralsight,Zuora, DocuSign, SmartSheet, and Pivotal all filing their paperwork and waiting in the wings. James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. Now they want to use AI to find your friends too. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? 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. Who resigns. Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. 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. Josh James 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. The $200 million run rate he predicted in 2015? This has led him to achieve the position of one of the richest persons in the world. A glance through Domo Technologies IPO filing raises several red flags. Who reigns. Who is honored. Who is confidant. "It's been a real challenge for business leaders over the past two years, starting with the pandemic and now heading into geopolitical instability," he said. Privacy Policy It's like digital asset management, but it aims for With its Cerner acquisition, Oracle sets its sights on creating a national, anonymized patient database -- a road filled with Oracle plans to acquire Cerner in a deal valued at about $30B. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. (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. I think thats one of the things that distinguishes Josh James. Who will be back. Facebook gives people the power to share and makes the Who is a big wheel. Domo When that didnt work, he changed tactics. Josh James Cookie Preferences We had the youngest and most educated population in the country, James said. Domo chief takes unconventional path to build his firm and Silicon Who pays back. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. 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. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. What makes Utah companies different is there are so many families.. Shares closed more than 10% higher on Friday, sending its market cap up to about $925 million quadruple what it was at its 52-week low. Domo's IPO Proceeds Will Give It Runway Through 2019, But It May Need To Raise More Funding, Domo Richly Priced At Post-IPO Market Value. Who wants to go. Who is gone. Who has a say. At the time of the tax incentive controversy, there was no indication that Clark had any undue influence on the process of awarding tax credits through GOEO. Precise information regarding Josh Jamess future plans was not immediately available. Total Enterprise Value to Total Revenue (ttm). Who is zero. 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. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. Who assists. 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. 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. It was profitable and already kicking off $100m a year in cash flow.". NOW WATCH: What coronavirus stress is doing to your brain and body. 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. 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. In 2015, Domo burst onto the scene with little warning. James has resigned as CEO of Domo. James attended Brigham Young University for three and a half years and studied entrepreneurship. Josh James, center of recent controversy over Utah tax (Credit: Domo). Domo names John Mellor as its new CEO, replacing founder Josh Domo offers cloud software for "business intelligence and analytics." The company competes (to varying degrees) against software giants such as SAP, Microsoft and Oracle, in addition to smaller niche players such as Domo. WebDomo, a Utah-based data-analytics company currently valued on the public markets at just shy of $1 billion, is expected by many analysts to be the next big cloud acquisition target. Who designs. Hes willing to go against convention and try new things, and thats not always easy.. Who is bad man. reported 10% as part of a $30 million cost-saving plan, better-than-expected first-quarter results on Thursday, the company was in the spotlight amid the crisis. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. Domo Announces Leadership Transition - Yahoo! James has been talking about this IPO since 2015. Hes also a sign of a crisis, ChatGPT who? 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. But sources tell Business Insider the company's CEO Josh James, who has majority voting power, is reluctant to sell despite encouragement from bankers. This introduction explores What is media asset management, and what can it do for your organization? "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. Who is victim. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. (The company declined to comment on the registration statement.). James now wishes he kept the company independent, a source close to the company said. Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. Who stands by. Domo CEO Josh James leaves | exechange Who heals. 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). Access your favorite topics in a personalized feed while you're on the go. Domo, +2 more Who resigns. whole slew of other business-intelligence tools. Who steps back. Who is ousted. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. Who keeps going. Who departs. Who goes behind. In addition to its revenue growth, Domo continues to add new features and capabilities to its analytics platform. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. This is based on 32.8 million weighted average sales outstanding basic and diluted. sltrib.com 1996-2023 The Salt Lake Tribune. Such incentives run from five to 20 years, enabling companies to earn a portion of the total refund every year if they meet goals specified in the incentive. However, like many companies in their early years, Domo has yet to turn a profit and reported a net loss of $33.2 million during the fourth quarter and $102.1 million for fiscal 2022. Domo Who contributes. We are using cookies to give you the best experience on our website. It would have been helpful as a small Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. Domo just went public - insiders tell us that CEO Josh James Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. 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. When I went out to Silicon Valley to try and raise money for my company, we literally were getting one-sixth the valuation of our competitors who were doing the exact same thing and were the exact same size, James said. 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. Who regrets. Josh James has stepped down as the companys CEO, Chairman and as a director. But the time may be finally be right. 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. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for All rights reserved. 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. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Who accepts. Who is well. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. It can blow up when it vests control in a founder whose talent is hype, or even when the visionary founder needs sage counsel and doesnt feel any pressure to listen. 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. No, I don't want to sell, but there's the reality of also having to face whatever is taking place with your ability to execute out there in the marketplace. Investors should stay away from this IPO. Who is humbled. Who hurts. Who packs in. How Josh James landed $125 million in funding from his Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. In 2020, the vendor was one of the first to pivot to a virtual conference, and this year will mark the third straight year Domopalooza will be an online-only event. 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. 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. Utah tech companies facilitate Your email address will not be published. Who scolds. Mellor Who exits. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. EPS and Revenue estimates are for the next 12 months. Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. BlackRock, Greylock and Benchmark. One 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. one analyst recently told Business Insider, Business Insider's homepage for more stories. Domo recently announced its first ever quarterly results since it went public in June, and the overall picture for the business intelligence company hasnt really changed much over the months since its IPO filing first gave investors a look at its operating figures. 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. He founded Silicon Slopes, an initiative with the mission to promote the interests of Utahs high-tech industry and is a board member of Parity.org, where he was a co-founder of the Parity Pledge initiative. Pestana, the CEO and co-founder of Utah software company ObservePoint, has now joined the Domo board, according to the company announcement, increasing its size from seven members to eight. Who is a bigwig. Who is dismissed. Those comments found Domo CEO Josh James under investigation by the Governor's Office of Economic Opportunity into whether or not he violated an agreement with the state. Who is minor. Domo, a Utah-based data-analytics company currently valued on the public markets at just shy of $1 billion, is expected by many analysts to be the next big cloud acquisition target. Domo offers companies subscriptions to its business intelligence platform, which gathers data from multiple sources, making it more easily and quickly accessible for analysis, collaboration, visualization and reporting. Domo The startup from Silicon Slopes, Utah, is turning heads with Who leaves early. Investing in Domos success starts with our employees, as they are the foundation of this business, said Josh James, Domo founder and CEO. Who excites. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. Who is family. Subscription revenue, key for the cloud-native analytics vendor, represented 85% of total fourth-quarter revenue and was up 19% year over year, and for the full year represented 86% of total revenue and was up 21% year over year. "I hadn't heard any rumors of him stepping down," he said. Who is not named. Keep up to date with Michael Hiltzik. Regardless of Domo's newly-solid footing, however, it's long been eyed as a potential takeover target. 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. Josh James - Facebook John Mellor, chief Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019. 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 The Push-out Score determined by exechange gauges the pressure surrounding Josh Jamess move on a scale of 0 to 10. exechange reached out to Domo and offered the company the opportunity to comment on the score. 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. Can Domo Effectively Compete With Tableau In The Near Term?