I used to waste three days prepping for a board meeting. Now, he says, board members can just check their phones at the end of a quarter or sales push and hit refresh. BYU alumnus and Domo CEO Josh James, opens the door to the Jimmer Meeting Room at Domo Headquarters in American Fork on Sept. 30. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). 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 reigns. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. Domo offers cloud software for "business intelligence and analytics." 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. On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. Ready to drive increased productivity with faster pc performance? Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. 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. To subscribe, click here. 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. 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. Eventually, others joined the cause, including other tech CEOs from around the state. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. 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. Who is down. Sign up for notifications from Insider! Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. 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. Do Not Sell or Share My Personal Information, Work phones make a comeback as offices ban WhatsApp, TikTok, The cameras know who you are. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. James said his company was so advanced that we dont really have a competitor yet.. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for 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. SAP seems like a likely suitor. Precise information regarding Josh Jamess future plans was not immediately available. We keep you up to date on the latest CEO changes. The company retained the tax benefit, known as Economic Development Tax Increment Financing. This has led him to achieve the position of one of the richest persons in the world. 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. (Sydnee Gonzalez) Access your favorite topics in a personalized feed while you're on the go. In a shuffling of its board of directors, Carine Clark, who joined the board in 2019, was appointed as executive chair. But they werent the only ones demanding action under the Gold Dome. Hes also a sign of a crisis, ChatGPT who? Who presides. It hit a $2 billion valuation by 2016, before many people had even heard of it. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. Who deserves it. Defeating Ransomware With Recovery From Backup. , which announced an $80 million fund in December. "It's easy to imagine James looking for a fresh start.". John Mellor, chief Domo CEO Josh James onstage at Domopalooza in 2015. As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. 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. Who is sad. (Credit: Domo). Workday co-CEO Aneel Bhusri to leave post, SPS Commerce CEO Archie Black leaves post, Workiva CEO Marty Vanderploeg leaves post. Youd think, Who owns that house,' or, Who owns that company,' James said. His concentration, dedication, and hard work have assisted him to get this position. Who leaves early. Who is doomed. Who gives up. 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. Whos in. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? Who is shamed. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. 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. In the first quarter ended April 30, it lost another $45.5 million on revenue of $32 million. About Press Copyright Contact us Creators Advertise Developers Youve got to embrace what makes you different, James said. He also previously co-founded and served as CEO of Omniture, a web analytics company. 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 He was also the co-founder of Omniture, which was acquired by Adobe in 2009. 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. 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. Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. 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 Likewise, Henschen said Domo is in good hands with its new CEO and COO. Who has the last word. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. The $200 million run rate he predicted in 2015? As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. Who chairs. 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. White House cyber plan would hold software companies liable for attacks, TikTok to set default daily time limit of 60 minutes for minors, TikTok faces bans in a number of countries over security fears. James attended Brigham Young University for three and a half years and studied entrepreneurship. After selling Omniture to Adobe for $1.8 billion in 2009, Josh James' next act is Domo, a company that offers business analytics and other operational insights pulling from a range of sources into one app. But the time may be finally be right. The pitch for Domo was that it would fill in some of the gaps in enterprise data analysis that Omniture had left open, providing access to real-time marketing information that would help CEOs run their companies more efficiently. Editor in Chief Lisi Merkley is majoring in both journalism and Spanish. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. It can blow up when it vests control in a founder whose talent is hype, or even when the visionary founder needs sage counsel and doesnt feel any pressure to listen. Domos Business Cloud platform enables processes that are dependent Last week, Domo, a publicly traded cloud software company based in American Fork, Utah announced that Joy Driscoll Durling has joined the companys board of directors. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. Who scolds. With the IPO filing on June 1, however, the curtain has opened on Domos performance. Who is at eye level. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. Who exits. Read the full story in the exechange report 10.2022 ($). The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. Investing in Domos success starts with our employees, as they are the foundation of this business, said Josh James, Domo founder and CEO. Budgeting Amid Todays Macro Uncertainty: Advice From a CFO, Telemundo Debuts El Domo Del Dinero, The First Original Reality Competition Shot In Its Own Studios, After 5x Recovery, Domo Has No More Room To Grow, The CIO-Plus Of Vivint Smart Home Named To The Board Of Domo. James invested a couple million dollars into Silicon Slopes and dedicated himself to making it take off. Josh James - Wikipedia Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. 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. 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.. Josh James $2 billion startup Domo just made a big reveal. Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019. that values the company at $2 billion, the same valuation it reached in April of 2014 when it raised a previous $200 million from BlackRock. 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. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. 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. 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? 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. Who loses. Who serves. Who says what. The company competes (to varying degrees) against software giants such as SAP, Microsoft and Oracle, in addition to smaller niche players such as Domo. 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 is last. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. "The question will be what his style is as CEO. Who is a leader. Whos number 1. 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 family. 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. Who is a friend. Data is no longer a currency only to be banked, but is the fuel that drives the business, it said in its recently filed annual report. Who benefits. However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. Pre-IPO, James has 91.7% of the votes. Who will be back. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. 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. 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 is under. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. There are several important variables within the Amazon EKS pricing model. Josh James, center of recent controversy over Utah tax Who packs in. Who has a say. This wouldnt be acceptable even if Domo were going gangbusters. Josh James is on Facebook. Who wishes luck. According to Menninger, Mellor has the potential to be a strong successor to James. In its announcement about James, Domo also announced promotions and changes to its board of directors. Who stumbles. Who is welcomed. Who is Who. Who helps. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. Who is confidant. 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. Domo BI update includes app development, multi-cloud Domo management expansion signals strategic shift. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Who fits. 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 leaves. 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. 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. Utah wraps up investigation into Domo 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. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. Who is bad man. Required fields are marked *. Josh James, Founder and CEO, Domo - Josh James Investors should stay away from this IPO. Clearly, Josh James was a big personality. Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Who has a vote. Who is blamed. 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. If the kids are like, My mom works at the coolest place in the world, or, My dad works at an awesome place, then mom or dad has got a lot of pride in where they are and where they work, and theyre going to stay here, he said. 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. 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 sorry. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. 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 $3,276 per flight hour. Who commands. BlackRock Who goes ahead. A company agreement with James, filed with the Securities and Exchange Commission, says that if Pestana leaves the board before the agreement terminates in 2023, James will be entitled to identify a new independent director to replace him. Who steps up. Who suffers. I'm certainly not opposed to selling the company. Who sits. Who is bad. Whos out. Facebook gives people the power to share and makes the WebDomo insiders say that CEO Josh James faced a sharp backlash, and eventually apologized, after telling a story at an all-hands meeting that made some employees feel Stay up to date with what you want to know. Customers have been happy, and we have more juice coming, James says. (function($) {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. Regardless of Domo's newly-solid footing, however, it's long been eyed as a potential takeover target. Who is sorted out. (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. Its accumulated deficit as of April 30 is more than $803 million. Your email address will not be published. Says James: Haters gonna hate., This is a BETA experience. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. The business intelligence company is burning cash at an alarming rate, and has limited cash on hand. The board also will not expand in size without James consent, during the term of the agreement. Domo declined to comment on potential M&A activity. 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. We face intense competition, and we may not be able to compete effectively. He currently serves on the board of a newly organized special purpose acquisition company. 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. Josh James 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. To accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. Hes willing to go against convention and try new things, and thats not always easy.. Join Facebook to connect with Josh James and others you may know. It isnt. Total Enterprise Value to Total Revenue (ttm). It would have been helpful as a small The terms for the new money, James says, were clean. Comparing Domo's Sales And Marketing Spend With Tableau's, Comparing Domo's Growth And Valuation To Anaplan's. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. Who leaves late. Who speaks. Domo has $100 million in bookings under contract and is growing at a rate of 100%, says James. Who is minor. He added: "Do I want to sell? sltrib.com 1996-2023 The Salt Lake Tribune. Who pays. Kristin Murphy, Deseret News 8of 9 Who mourns. Who stands by. Thats the downside of how James has structured his company. 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. What makes Utah companies different is there are so many families.. 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. Who has tailwind. Domo Domo Announces Leadership Transition - Yahoo! Domo chief takes unconventional path to build his firm and Silicon

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