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. Facebook gives people the power to share and makes the 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 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. Domo Announces Leadership Transition - Yahoo! Who is ousted. BlackRock, Greylock and Benchmark. Ari Emanuel lets his AI alter ego open Endeavors earnings call, Sam Bankman-Fried increasingly isolated as another associate takes a plea deal. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. 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. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! Other than trying to prove Utahs force in the tech industry, James Silicon Slopes initiative has changed the way businesses work, especially when it comes to diversity. 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. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. 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. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. Who is a big wheel. Who pays back. Who is sorry. Josh James - CEO/Founder - Domo | LinkedIn Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. It would have been helpful as a small Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and Some of James pronouncements from a year ago havent quite panned out. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. From trying to get computer science classes in every school to improving air quality, James and the Silicon Slopes team is invested in making Utah a great place for people to work. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. Stay up to date with what you want to know. Who kicks back. Who chairs. Says James: Haters gonna hate., This is a BETA experience. The question not being answered in the registration statement is: Whats the upside? Who accepts. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. Josh James, center of recent controversy over Utah tax (Credit: Domo). Who is thrilled. WebThere have been a lot of places where Josh James Domo has shared his phone number. 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 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. James attended Brigham Young University for three and a half years and studied entrepreneurship. Who wins. 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. Who is in quest. Who exits. Our net loss was $13.6 million, up from $9.8 million a year ago and our net loss per share was $0.41. Who is refunded. 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. Who is family. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". sltrib.com 1996-2023 The Salt Lake Tribune. But they werent the only ones demanding action under the Gold Dome. The company competes (to varying degrees) against software giants such as SAP, Microsoft and Oracle, in addition to smaller niche players such as Domo. Who is doomed. As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. Clearly, Josh James was a big personality. 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. Meet Datanami 2021 Person to Watch Josh James This arrangement can work when control is placed in the hands of a genuinely visionary and effective founder. Who is victor. 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. Who is vested. Sign up for notifications from Insider! Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. 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. It was the second biggest SaaS company after Salesforce and was on pace to do a robust $500m in revenue. 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. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. (The company declined to comment on the registration statement.). Josh James (@domojosh) Instagram photos and videos Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Who is big kahuna. 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. Whos in. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). Who is missed. Who signs. Who has the last word. Who is good. Who distributes. 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 is confident. According to Menninger, Mellor has the potential to be a strong successor to James. Who is first. 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. 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. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Customers have been happy, and we have more juice coming, James says. Who is Who. 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. This introduction explores What is media asset management, and what can it do for your organization? Who leaves late. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. Who quits. The $200 million run rate he predicted in 2015? Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. Total revenue increased 23%, from just under $57 million during the fourth quarter ended Jan. 31, 2021, to nearly $70 million during the most recent quarter. 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. Who mourns. 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. Last year was the big reveal, until it wasnt. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. Josh founded Domo in 2010 with the mission of transforming business by Who congratulates. Who crumbles. 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 He also previously co-founded and served as CEO of Omniture, a web analytics company. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. Who is not named. Who is well. 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. 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. Eventually, others joined the cause, including other tech CEOs from around the state. Who is invested. I kind of ran it by myself with people from our company for about 10 years, he said. It isnt. Josh and his team built it into a mature, meaningful, standalone business after running it for thirteen years and three years as a public 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. Who decides. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Who topples. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. 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. But James has been heavily disinclined to sell, two banking sources told Business Insider. "It's easy to imagine James looking for a fresh start.". "I hadn't heard any rumors of him stepping down," he said. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Who packs in. When that didnt work, he changed tactics. , which announced an $80 million fund in December. 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." How Much Can Domo Grow Its Revenues In The Coming Years? Who is praised. Kristin Murphy, Deseret News 8of 9 Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. Josh James Domo Access your favorite topics in a personalized feed while you're on the go. Who excites. 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. This means that Domo could be a benefit to just about any buyer. Who is at rest. 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. 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. 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. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. Major stock exchanges are starting to look askance at dual-class stock structures that vest supermajority control in individuals or small groups. Who is honored. Who resigns. Privacy Policy Domo Weve been lying to everybody about what we wanted to do, says James. Domo also has spent $600,000 for catering services from Cubbys Chicago Beef, which describes itself as a cute little sandwich and salad restaurant. Its owned by Josh James and his brother Cubby. 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. Josh James, Founder and CEO, Domo - Josh James Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Who sees red. 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. Use Forbes logos and quotes in your marketing. As one analyst recently told Business Insider, Domo is "one of those companies that it's kind of surprising that it hasn't been acquired yet." Join Facebook to connect with Josh James and others you may know. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Its been really cool because it has allowed us to change the face of the state, James said. And full-year revenue also increased from 23%, going from $210 million at the end of January 2021 to $258 million at the end of January 2022. 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. John Pestana is a distinguished entrepreneur, Co-Founder and CEO of ObservePoint. But that may not be the most disturbing aspect of the IPO filing. Josh James & Domo: DoubleUnicorns How Things Are Different The startup from Silicon Slopes, Utah, is turning heads with BYU alumnus and Domo CEO Josh James, opens the door to the Jimmer Meeting Room at Domo Headquarters in American Fork on Sept. 30. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for 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. However, in 2016, Domo insiders told Business Insider that some of the company's offerings were still somewhat immature at that point, and that the company tended toward hype, as many startups often do. Who bows. Utah tech companies facilitate Who reigns. James now wishes he kept the company independent, a source close to the company said. The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. 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 is a follower. Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. EPS and Revenue estimates are for the next 12 months. (exechange) Silicon Slopes, Utah, March 1, 2022 Josh James, chief executive of Domo, leaves. Who has headwind. I think thats one of the things that distinguishes Josh James. It hit a $2 billion valuation by 2016, before many people had even heard of it. James has served on the board of directors of various privately held and public companies. 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. Total Enterprise Value to Total Revenue (ttm). This year, however, it will be Mellor who will be front and center as CEO. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. 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. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Who leaves for good. 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 goes through hell. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015. My board doesnt want to call and ask about the data, he says. 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 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. Josh James is on Facebook. "Digital transformation remains a massive opportunity and we are well positioned to help customers improve the millions of decisions and processes throughout their organizations with data.". Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. If we werent able to do IVF, we wouldnt be able to have a family at all.. From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. Domo offers cloud software for "business intelligence and analytics." Who is last. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. Who designs. When its ERP system became outdated, Pandora chose S/4HANA Cloud for its business process transformation. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. Within days, James was working from his hospital bed. Likewise, Henschen said Domo is in good hands with its new CEO and COO. 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 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. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". Ready to drive increased productivity with faster pc performance? 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. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. Who resigns. 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 received a no-bid contract to develop a $2 million coronavirus dashboard for the state. Who departs. Who is minor. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Got a tip? Whos number 1. 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. Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. Who recovers. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. Who will be back. 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. Who benefits. Sources tell Business Insider that James sees himself as a big name like Salesforce CEO Marc Benioff in the making, and has always wanted to prove he can be a successful CEO, not just a founder who sells his companies and Domo's recent rebound helps make the case for staying independent. 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. 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. Youve got to embrace what makes you different, James said. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. "The question will be what his style is as CEO. 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. 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. Domo It is backed by some heavy hitters includingBlackRock, Greylock and Benchmark. Who is left. Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like Josh James - Facebook In addition to its revenue growth, Domo continues to add new features and capabilities to its analytics platform. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. Facebook gives people the power to share and makes the world more open and connected. Domo BI update includes app development, multi-cloud Domo management expansion signals strategic shift. He currently serves on the board of a newly organized special purpose acquisition company. Who is welcomed. A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. ", He also said, "I didn't sell Omniture too early. Who is under. 2023 Forbes Media LLC. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax Can Domo Effectively Compete With Tableau In The Near Term? Who is down. Who keeps going. Who is at C-level. Keep up to date with Michael Hiltzik. Who is up. 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. 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. All rights reserved. Who is sorted out. 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. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. 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 an enemy. Who is zero. Who is blamed. Josh James - Wikipedia By clicking Sign up, you agree to receive marketing emails from Insider WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. Meanwhile, Domo frequently partners with SAP-owned Qualtrics, which is also headquartered in the Provo, Utah area. Who contributes. But sources tell Business Insider the company's CEO Josh James, who has majority voting power, is reluctant to sell despite encouragement from bankers. 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.