The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. Whos obsolete. Who loses. Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. We are using cookies to give you the best experience on our website. Who is replaced. Keep up to date with Michael Hiltzik. He also previously co-founded and served as CEO of Omniture, a web analytics company. Who quits. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like Domo also has bought $200,000 in furnishings from Alice Lane Home Collection, an interior design company partially owned by James, at which Drew James, another brother, is an executive. Slack Who contributes. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. It is backed by some heavy hitters includingBlackRock, Greylock and Benchmark. 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. (Sydnee Gonzalez) Who speaks. 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.
Josh James, center of recent controversy over Utah tax Who has tailwind. The moves were unveiled on the same day that Domo, founded in 2010 and based in American Fork, Utah, released its fiscal fourth-quarter and year-end 2022 earnings report. 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. 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 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 family. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. 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. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! 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. 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. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. "The question will be what his style is as CEO. Who is welcomed. 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." 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. 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. You may opt-out by, Covering venture capital, cloud and startups, BOX CEO Aaron Levie Talks Trump, Tech, And How To Stay Nimble As A Public Software Company, 5 Ways Machine Learning Has Influenced The Modern Cloud, How Digital Disruption Transcends Industry Borders, The 3 Tech Buzzwords Every CEO Should Know, Google Cloud Shakes Up Its Customer Support To Bring Its Engineers To Customers, Microsoft And NVIDIA Announce HGX-1 Platform Standard For AI/ML Cloud Computing, GitHub Overhauled Its Pricing Plans Because Customers Now Want The Cloud, Box Uses API Lego-Style Brick Theory To Connect More Data, Weve been working five years for this, to create the worlds first business cloud,, I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business., Weve been working five years for this, to create the worlds first business cloud,, I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business.. The company retained the tax benefit, known as Economic Development Tax Increment Financing.
Domo CEO Josh James leaves | exechange Got a tip? 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. Who says what. Who is host. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. Who topples. Who comes. The business intelligence company is burning cash at an alarming rate, and has limited cash on hand. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. In his own companies, James values hiring the right people and helping them love their jobs. Privacy Policy
Josh James & Domo: DoubleUnicorns How Things Are Different Who departs.
Silicon Slopes: Qualtrics CEO says Everything I got came from Even before Domo reported its earnings this week, Cowen analyst Derrick Wood told Business Insider that the company's bull run wouldn't be likely to turn away a would-be buyer, even if the price tag may have gone up a little bit. 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 hit a $2 billion valuation by 2016, before many people had even heard of it. But that may not be the most disturbing aspect of the IPO filing. Who is hero. Who signs. (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). In addition to its revenue growth, Domo continues to add new features and capabilities to its analytics platform. Your email address will not be published. This year, however, it will be Mellor who will be front and center as CEO. Domo, +2 more Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. 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. Facebook gives people the power to share and makes the He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for James invested a couple million dollars into Silicon Slopes and dedicated himself to making it take off. 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. James sold Omniture to Adobe in 2009 for $1.8 billion. A look at Domo's collaboration chat tools, Buzz. Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. 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. Who bows out. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Stay up to date with what you want to know. 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. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. The IPO wont change that materially. Who regrets. Who is fired. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. meaning that by the time the tech world was paying attention, investors had already poured enough money into it that it was valued at more than $1 billion. Who is victim.
Who helps. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. (Credit: Domo). Whos number 2. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Who is gone. (The company declined to comment on the registration statement.). WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. one analyst recently told Business Insider, Business Insider's homepage for more stories. 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. 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. 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. Who sees green. The software company is considered one of Utahs few unicorns privately held startups valued at $1 billion or more though its finances raised questions when it went public in 2018. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. Who is confidant. Who is shamed. 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. Hes willing to go against convention and try new things, and thats not always easy.. Who does well. 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. , which announced an $80 million fund in December. It shows a company that is deeply in the red and burning through cash so fast that if it cant stage its IPO by August or borrow millions, it will have to shrink drastically conceivably, reading between the lines, to nothing. Who is doomed. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. Who is up. Who is silent. Who keeps going. The board also will not expand in size without James consent, during the term of the agreement. ", He also said, "I didn't sell Omniture too early. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. As part of its app push, Domo said it has 1,000 partnered business apps in its new app store, while making its original core business free for most users. Who assists. Heres a list, Dr. Simi is thrown at pop stars including Dua Lipa and Rosala. Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019. His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. Box James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. James said his company was so advanced that we dont really have a competitor yet.. 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. With two legislative days remaining until Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. Says James: Haters gonna hate., This is a BETA experience. Theres a chat feature called Buzz that allows employees to communicate about each piece in threaded conversations and a task management piece to track who should be doing what. Who fights for honor. The days most visible group was Mothers Demand Action, members of which crowded the halls in a sea of red as they advocated lawmakers for gun control measures. Rising from $8 to $37 off the recent bottom, the price gained more than the broader S&P 500 index, which moved 48%. Again. Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. Who obeys.
Who is down. Who accepts. Who sits. In 2015, Domo burst onto the scene with little warning. Facebook gives people the power to share and makes the world more open and connected. 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. 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.
Domo Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. BlackRock All values as of most recently reported quarter unless otherwise noted. 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. 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. Who has headwind. Why not us?. Who is a follower. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and SAP seems like a likely suitor. Who excites.
Who is groomed. This website uses cookies so that we can provide you with the best user experience possible. ( 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 as well as other partner offers and accept our. Who distributes. Who leaves for good. Who is a bigwig. The startup from Silicon Slopes, Utah, is turning heads with Who benefits. James has served on the board of directors of various privately held and public companies. 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. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. 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. Who exits. 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, Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership Who suffers. She hopes to continue reporting after graduation. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. The 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. 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. 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. Keeping this cookie enabled helps us to improve our website. 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. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. 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. Who pays. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax Who sees red. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? If we werent able to do IVF, we wouldnt be able to have a family at all.. Who is in quest. What makes Utah companies different is there are so many families.. Whos in. Who earns it. All rights reserved.
Column: Hype and plunder: This high-tech company may be Who steps up. Required fields are marked *.
How Josh James landed $125 million in funding from his 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. Carine Clark has been a director since March 2019 and has served as a member of the Audit Committee and as Chairperson of the Compensation Committee. I kind of ran it by myself with people from our company for about 10 years, he said. Who is blamed. 2023 Forbes Media LLC. Domo is scheduled to host its annual user conference, Domopalooza, March 23, and for the first time will have someone other than James as its leader. This wouldnt be acceptable even if Domo were going gangbusters. 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. 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. 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. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. Kristin Murphy, Deseret News 8of 9 Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. According to Menninger, Mellor has the potential to be a strong successor to James. Can Domo Effectively Compete With Tableau In The Near Term? Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. WebJosh James, Founder and CEO, Domo. Editor in Chief Lisi Merkley is majoring in both journalism and Spanish. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Who wishes luck. Customers have been happy, and we have more juice coming, James says. Who goes through hell. Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. 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. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. 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. James now wishes he kept the company independent, a source close to the company said. Ari Emanuel lets his AI alter ego open Endeavors earnings call, Sam Bankman-Fried increasingly isolated as another associate takes a plea deal. And the picture confronting would-be buyers is not pretty. 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. Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. 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. 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. Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. sltrib.com 1996-2023 The Salt Lake Tribune. 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 is familiar. Who soothes. Who decides. 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 has stepped down as the companys CEO, Chairman and as a director.
Domo Launches 'Business Cloud,' Makes Its About Press Copyright Contact us Creators Advertise Developers Who packs out. 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. Who is bad man. Who is dismissed.
Meet Datanami 2021 Person to Watch Josh James Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. Josh founded Domo in 2010 with the mission of transforming business by "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. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Who is praised. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. NOW WATCH: What coronavirus stress is doing to your brain and body. With the IPO filing on June 1, however, the curtain has opened on Domos performance. Major stock exchanges are starting to look askance at dual-class stock structures that vest supermajority control in individuals or small groups. However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. 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. Who fights for money. The company first publicly announced its platform in 2015. Who is selected. Someones got to be on top. 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. Josh James is on Facebook. Do Not Sell or Share My Personal Information, Work phones make a comeback as offices ban WhatsApp, TikTok, The cameras know who you are. 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 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. Who pays back. 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 being investigated by state over CEO's remarks Who is successful. Domo offers cloud software for "business intelligence and analytics." 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. Who is not named. Who is bad.
Josh James - Wikipedia James has resigned as CEO of Domo. Who is last. Who is successor. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. To be fair, investors had reason to believe in James at the start. Cookie Preferences Who is at eye level. Who is big kahuna. 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. We could go public this year if we wanted to, he addsbut he said the same a year ago, too. "I am extremely optimistic about our future and the horsepower of the entire Domo team," he said in a release about the personnel moves. 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. With John Pestanas appointment, the size of the Board will increase from seven to eight members. Sign up for notifications from Insider! Who reigns. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015. Who is refunded. Who congratulates. Use Forbes logos and quotes in your marketing. Kehoe, the Domo spokeswoman, said "Josh feels great about the acquisition of Omniture to Adobe and how it became a bright shining star and a big chunk of Adobe's overall strategy and business. Who deserves it.