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Domo CEO Josh James onstage at Domopalooza in 2015. Who is well. Who tumbles. Who fights for honor. Who is chief. Who is dismissed. 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. Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019. Who is down. And the picture confronting would-be buyers is not pretty. Who contributes. Who chairs. In a shuffling of its board of directors, Carine Clark, who joined the board in 2019, was appointed as executive chair. Who earns it. Now they want to use AI to find your friends too. Who departs. Who scolds. Who is last. The filing as a whole points to a persistent flaw in Silicon Valley financing: the willingness to give start-up founders unassailable control of their companies, to the point that investors have no recourse if things go blooey. She hopes to continue reporting after graduation. With the IPO filing on June 1, however, the curtain has opened on Domos performance. Because of Domos fertility benefits, Stephan was able to successfully complete a round of in vitro fertilization and is currently in the second trimester of her pregnancy. Domo Technologies is no longer on the coveted list of unicorns, with the business intelligence company recently filing to go public at a valuation of roughly half a billion dollars. Defeating Ransomware With Recovery From Backup. Who sees red. James attended Brigham Young University for three and a half years and studied entrepreneurship. Who congratulates. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. All rights reserved. Kristin Murphy, Deseret News 8of 9 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. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. It was the second biggest SaaS company after Salesforce and was on pace to do a robust $500m in revenue. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. Who is silent. But the time may be finally be right. How Much Can Domo Grow Its Revenues In The Coming Years? As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. Who helps. Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. Follow her on Twitter @elisynkay. Keeping this cookie enabled helps us to improve our website. James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. Who soothes. Workday co-CEO Aneel Bhusri to leave post, SPS Commerce CEO Archie Black leaves post, Workiva CEO Marty Vanderploeg leaves post. Who wins. Who stumbles. 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. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. The IPO wont change that materially. BlackRock 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. Who goes behind. But Domo seems to have rebounded, with the company reportingbetter-than-expected first-quarter results on Thursday. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. Again. 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. 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. Who is host. He also previously co-founded and served as CEO of Omniture, a web analytics company. Your email address will not be published. All Rights Reserved. Who steps up. Who sits. 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. To accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). This has led him to achieve the position of one of the richest persons in the world. But sources tell Business Insider the company's CEO Josh James, who has majority voting power, is reluctant to sell despite encouragement from bankers. Who presides. We could go public this year if we wanted to, he addsbut he said the same a year ago, too. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. Who regrets. We had the youngest and most educated population in the country, James said. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. Sign up and receive our free newsletter every Monday morning. Who fights for money. A Domo spokesperson declined comment. Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. Who gives up. Who can say it? Who is under. Who recovers. Youve got to embrace what makes you different, James said. When its ERP system became outdated, Pandora chose S/4HANA Cloud for its business process transformation. 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 wants to go. Join Facebook to connect with Josh James and others you may know. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. 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. Who leaves. This year, however, it will be Mellor who will be front and center as CEO. Weve been lying to everybody about what we wanted to do, says James. 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. Editors note This story is available to Salt Lake Tribune subscribers only. 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. 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. I'm certainly not opposed to selling the company. ", He also said, "I didn't sell Omniture too early. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. The terms for the new money, James says, were clean. 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. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. Domo declined to comment on potential M&A activity. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Who means well. BlackRock, Greylock and Benchmark. It hit a $2 billion valuation by 2016, before many people had even heard of it. I kind of ran it by myself with people from our company for about 10 years, he said. 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. 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 is humbled. Domos using a hybrid cloud architecture to support the cloudand keep data secure for its customers, using some Amazon Web Services and some of its own data centers. 6:32 p.m.: This post has been updated with the companys declining to comment on its registration statement. Domo, James current company, takes the data that his previous company, Omniture, was able to provide their clients and puts it in easily accessible formats. 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. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. 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. The company faced hurdles early on in the coronavirus crisis, slashing its headcount by a reported 10% as part of a $30 million cost-saving plan, even as Morgan Stanley speculated that the situation might exacerbate some of Domo's pre-existing problems when it came to its closing deals. Who is vested. Whos obsolete. 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 John Mellor, chief Who is sorted out. 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. 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 website uses cookies so that we can provide you with the best user experience possible. Who is at C-level. "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. The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. "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. I think thats one of the things that distinguishes Josh James. Who is familiar. He has some kind of unconventional rules, Dyer said about James business strategy. Then theres the 88% voting control vested in Snap co-founders Evan Spiegel and Bobby Murphy; heres betting that many investors who bought into the story that they needed impregnable authority to build their company wish theyd thought twice, now that the stock is trading at less than half the $24.48 at which it closed on the day of its IPO, some 13 months ago. Who is at eye level. Competition in the business intelligence and analytics space has become especially fierce in recent years, making it increasingly important for companies in this space to invest extensively in sales and marketing (S&M) to acquire new customers. Can religion save us from Artificial Intelligence? 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 is an enemy. Who crumbles. 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. Who stands by. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! whole slew of other business-intelligence tools. John Pestana is a distinguished entrepreneur, Co-Founder and CEO of ObservePoint. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? Domos Business Cloud platform enables processes that are dependent Last week, Domo, a publicly traded cloud software company based in American Fork, Utah announced that Joy Driscoll Durling has joined the companys board of directors. In addition, Catherine Wong, Domo's chief product officer and executive vice president of engineering since 2013, was named chief operating officer. 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. 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. Who exits. Who is successful. 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. On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. 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 hero. WebJosh James, Founder and CEO, Domo. Who is a friend. Whos out. To subscribe, click here. The show is one of Telemundo's most ambitious projects to date. He was resistant to making that deal at first: A securities filing from the Omniture acquisition shows James first declined Adobe CEO Shantanu Narayen's advances, saying he preferred to discuss "partnership opportunities." James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. The board also will not expand in size without James consent, during the term of the agreement. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think This is based on 32.8 million weighted average sales outstanding basic and diluted. Who is first. Some of James pronouncements from a year ago havent quite panned out. James has been talking about this IPO since 2015. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. Last year was the big reveal, until it wasnt. James has resigned as CEO of Domo. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. 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. Who is confidant. Who is up. Who betrays. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. Meanwhile, the company was in the spotlight amid the crisis, with Vice President Mike Pence highlighting the company's work with the Iowa state government to expand access to COVID-19 testing. 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. He currently serves on the board of a newly organized special purpose acquisition company. 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. He would apparently prefer that Domo builds a tech empire of its very own: He's always "wanted to prove he's not just a founder, but a CEO," said a source who works for a Domo competitor. For the sake of comparison, Amazon took nine years to become profitable, Tesla 10 years and Salesforce didn't consistently begin reporting profits for 17 years. Within days, James was working from his hospital bed. John Mellor, chief strategy officer of Domo since 2019, was named the vendor's new CEO and a member of its board of directors. A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. Total Enterprise Value to Total Revenue (ttm). Your email address will not be published. Major stock exchanges are starting to look askance at dual-class stock structures that vest supermajority control in individuals or small groups. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. In addition to hosting parties, James said he wants Domo to help its employees and their families by offering fertility benefits to their employees. Domo reported that its total revenue has been increasing; for the fiscal years that ended on Jan. 31, its 2020 revenue was $173.4 million, its 2021 revenue was $210.2 million and its 2022 revenue was $258 million. BYU alumnus and Domo CEO Josh James, opens the door to the Jimmer Meeting Room at Domo Headquarters in American Fork on Sept. 30. He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. Who is a leader. 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. This introduction explores What is media asset management, and what can it do for your organization? Who is major. 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. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. "I am extremely optimistic about our future and the horsepower of the entire Domo team," he said in a release about the personnel moves. 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 is victim. Editor in Chief Lisi Merkley is majoring in both journalism and Spanish. 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. Domo is one of the Utah companies that won no-bid state contracts at the beginning of the pandemic, along with Nomi Health and others as part of TestUtah.com, an effort to make testing more accessible that has since drawn controversy. as well as other partner offers and accept our. Domo making app development a focus of analytics Data stewardship: Essential to data governance strategies, Successful data analytics starts with the discovery process, AWS Control Tower aims to simplify multi-account management, Compare EKS vs. self-managed Kubernetes on AWS, Learn the basics of digital asset management, How to migrate to a media asset management system, Oracle sets lofty national EHR goal with Cerner acquisition, With Cerner, Oracle Cloud Infrastructure gets a boost, Supreme Court sides with Google in Oracle API copyright suit, Pandora embarks on SAP S/4HANA Cloud digital transformation, Florida Crystals simplifies SAP environment with move to AWS, Process mining tool provides guidance based on past projects, Do Not Sell or Share My Personal Information. (Sydnee Gonzalez) You may get in touch with him by calling his office phone. 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. 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. 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. 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.. 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. Its accumulated deficit as of April 30 is more than $803 million. 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. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. Who is invested. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. Rising from $8 to $37 off the recent bottom, the price gained more than the broader S&P 500 index, which moved 48%. Who is a follower. 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 recent filing for an initial public offering by Utah-based software company Domo has been garnering a lot of attention lately, but not in a good way. 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 Who speaks. Now Utahs tech sector is booming. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. Who pays back. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. Asked during the company's Domopalooza conference in March whether it was time to considering selling the business to a larger vendor like SAP or Oracle or Microsoft, James said: "We always take inbounds when we come. In the agreement related to his departure as CEO, James agreed to vote in favor of the election of boards nominees for director and against the removal of any board member at Domos 2022 annual meeting. Who leaves for good. Why not us?. Its founder says that the fundraise was opportunistic to give the company enough runway to reach cash flow break even, without potentially punitive provisions from investors to maintain the high valuation. Copyright 2010 - 2023, TechTarget Anthony Pompliano Net Worth Phone Number, House Address, Wiki, Ashley Massengill Net Worth | Bio, Family, Address, Career, Atlas Monroe Net Worth | Age, Height, Weight, Dating And More, Beyonce S Net Worth Phone Number, House Address, Wiki, Blue Ivy Net Worth Phone Number, House Address, Wiki. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. Clearly, Josh James was a big personality. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. "But I have to admit, I am always surprised when founders stay as long as James did.". Who is at rest. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. 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. The new system is Florida Crystals' consolidation of its SAP landscape to a managed services SaaS deployment on AWS has enabled the company to SAP Signavio Process Explorer is a next step in the evolution of process mining, delivering recommendations on transformation All Rights Reserved, Josh founded Domo in 2010 to transform the way CEOs and other executives manage their business and to help drive value from the tens 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. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business. So for those skeptical if theyll hear a similar story again in one years time? 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. Who has a vote. Comparing Domo's Sales And Marketing Spend With Tableau's, Comparing Domo's Growth And Valuation To Anaplan's. Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. Who accepts. 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. Josh James is on Facebook. 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. Facebook gives people the power to share and makes the world more open and connected. You also can contact with him through Facebook, twitter and email. Whos in. Who is blamed. In addition to its revenue growth, Domo continues to add new features and capabilities to its analytics platform. Who assists. 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).