Who is chief. My board doesnt want to call and ask about the data, he says. Who is Who. 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). Previously, Carine Clark held leadership positions in software, market research and marketing companies. Who leaves for good. WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. 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. To accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. "I am extremely optimistic about our future and the horsepower of the entire Domo team," he said in a release about the personnel moves. Thats the downside of how James has structured his company. Defeating Ransomware With Recovery From Backup. Who is over. Josh James has stepped down as the companys CEO, Chairman and as a director. James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. , which announced an $80 million fund in December. Who lies. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. Meet Datanami 2021 Person to Watch Josh James 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 Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. Within days, James was working from his hospital bed. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. Sign up and receive our free newsletter every Monday morning. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. Joshua G. James, the Companys founder, served as the Companys chief executive officer and as a member of the Companys board of directors since 2010. Who goes ahead. Who stands by. 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 is at rest. James sold Omniture to Adobe in 2009 for $1.8 billion. Who chairs. We are using cookies to give you the best experience on our website. Required fields are marked *. All Rights Reserved. Who is humbled. Who decides. James has been talking about this IPO since 2015. Who is at eye level. Hes willing to go against convention and try new things, and thats not always easy.. 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. Who steps back. Josh James $2 billion startup Domo just made a big reveal. 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. Domo Who is successful. Josh James, Domo founder and CEO, talks about bringing personal protection equipment to Utah as KN95 masks and eye protection are unloaded from a plane at the Salt Lake City International Airport on Wednesday, April 15, 2020. 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. Now Utahs tech sector is booming. "It's easy to imagine James looking for a fresh start.". Who is missed. Who is sorted out. Who is a friend. 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. (exechange) Silicon Slopes, Utah, March 1, 2022 Josh James, chief executive of Domo, leaves. 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. Who is ousted. Why not us?. This introduction explores What is media asset management, and what can it do for your organization? 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. Thank you for supporting local journalism. 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. Domo also has bought $200,000 in furnishings from Alice Lane Home Collection, an interior design company partially owned by James, at which Drew James, another brother, is an executive. Who is victim. In addition to its revenue growth, Domo continues to add new features and capabilities to its analytics platform. Your email address will not be published. But sources tell Business Insider the company's CEO Josh James, who has majority voting power, is reluctant to sell despite encouragement from bankers. It is backed by some heavy hitters includingBlackRock, Greylock and Benchmark. This wouldnt be acceptable even if Domo were going gangbusters. Who fits. (function($) {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. Domo Is a Prime M&A Target, but Its CEO Doesn't Want to Sell: 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. Domo employee Domonique Stephan said she realized she would need to take advantage of the benefit, which helps employees pay for in vitro fertilization or other fertility services, a few months after she was hired. Says James: Haters gonna hate., This is a BETA experience. The show is one of Telemundo's most ambitious projects to date. Who is down. Mellor Who is confident. Wong has been at Domo since 2013 and has long guided Domo on the product side, he noted, and will "no doubt have a big and important role as COO.". Domo chief takes unconventional path to build his firm and Silicon Who exits. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. Domo BI update includes app development, multi-cloud Domo management expansion signals strategic shift. Who packs out. Rising from $8 to $37 off the recent bottom, the price gained more than the broader S&P 500 index, which moved 48%. In fact, that confidence led him to drop out of BYU only a few classes shy of graduation. Who leaves early. Customers have been happy, and we have more juice coming, James says. Who is up. The IPO wont change that materially. Nelson Mullins - Gold Dome Report Legislative Day 25 Who deserves it. 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. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015. Who is fired. 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. "It's John's boat to drive now, and I'm thrilled to watch him captain the ship," James said at the start of Domo's earnings call. Domo offers cloud software for "business intelligence and analytics." People called it an "insta-unicorn,"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. The way to sit here was not a simple process. Please enable Strictly Necessary Cookies first so that we can save your preferences! Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. This has led him to achieve the position of one of the richest persons in the world. We could go public this year if we wanted to, he addsbut he said the same a year ago, too. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. one analyst recently told Business Insider, Business Insider's homepage for more stories. Whos out. 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. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. 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. Ari Emanuel lets his AI alter ego open Endeavors earnings call, Sam Bankman-Fried increasingly isolated as another associate takes a plea deal. Ready to drive increased productivity with faster pc performance? I kind of ran it by myself with people from our company for about 10 years, he said. Domo Different people have different leadership styles. Who obeys. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. During his time as a BYU student, Josh James would sit with his friends on a bench not far from Y Mountain and look down at the businesses and new homes in the valley below. Clearly, Josh James was a big personality. This website uses cookies so that we can provide you with the best user experience possible. 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. 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 is minor. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. This arrangement can work when control is placed in the hands of a genuinely visionary and effective founder. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. How Much Can Domo Grow Its Revenues In The Coming Years? Who is blamed. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. Hes also a sign of a crisis, ChatGPT who? A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. Who is an enemy. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. Who comes. Now they want to use AI to find your friends too. Who is hero. Who is replaced. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for A glance through Domo Technologies IPO filing raises several red flags. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. Who has to go. Who kicks back. Domo Announces Leadership Transition - Yahoo! About Press Copyright Contact us Creators Advertise Developers James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. John Pestana is a distinguished entrepreneur, Co-Founder and CEO of ObservePoint. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. Domo CEO Josh James onstage at Domopalooza in 2015. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. WebJosh James sold his first company to Adobe for $1.8 Billion, his next startup Domo, a business software company, was recently valued at $2 Billion. Who is dismissed. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. The board also will not expand in size without James consent, during the term of the agreement. 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. Utah wraps up investigation into Domo Who steps up. A Domo spokesperson declined comment. 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. Who is a follower. All rights reserved. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think Who sees red. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Who presides. Josh James, Founder and CEO, Domo - Josh James 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. 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. 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. 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 repeats. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. Domo just went public - insiders tell us that CEO Josh James The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. 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. 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. Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. I sold Omniture when we felt like we should have sold Omniture and it was the right time.". "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. "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. ( 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 Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Josh James (@domojosh) Instagram photos and videos Cookie Preferences On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. Who is last. This means that Domo could be a benefit to just about any buyer. She hopes to continue reporting after graduation. Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. (Credit: Rebecca Ricks/Domo). Who assists. James resigned his employment with the Company effective March 1, 2022.. 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. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. Who is zero. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Privacy Policy But that may not be the most disturbing aspect of the IPO filing. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. Josh James Who accepts. Who does well. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. 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. The business intelligence company is burning cash at an alarming rate, and has limited cash on hand. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. Who goes behind. Domo Technologies became the latest tech unicorn to reveal its plans to go public over recent months, as the business intelligence company filed for an IPO with the SEC recently. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. Access your favorite topics in a personalized feed while you're on the go. 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. Who is at C-level. Who soothes. James attended Brigham Young University for three and a half years and studied entrepreneurship. BlackRock, Greylock and Benchmark. Keeping this cookie enabled helps us to improve our website. Who quits. Josh James.Domo.01 | Fortune Who fights for honor. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and It isnt. Use Forbes logos and quotes in your marketing. Who has tailwind. Who departs. Stay up to date with what you want to know. (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). 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, James current company, takes the data that his previous company, Omniture, was able to provide their clients and puts it in easily accessible formats. as well as other partner offers and accept our. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. Who gives in. Sign up for notifications from Insider! Who wants to go. Who prompts. Can Domo Effectively Compete With Tableau In The Near Term? Who wins. He added: "Do I want to sell? But the time may be finally be right. The company held its "organizational meeting" last week, which is a first step as a company files the IPO paperwork, Recode'sTheodore Schleifer reported. 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. Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. You also can contact with him through Facebook, twitter and email. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! 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. If we werent able to do IVF, we wouldnt be able to have a family at all.. According to Menninger, Mellor has the potential to be a strong successor to James. 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. 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. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. 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. Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019. 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. Investors should stay away from this IPO. James wanted to create a way for people in Utah to see that the CEOs of big tech corporations were not that different from them. Whos number 1. As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. Who is groomed. 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. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". 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. To be fair, investors had reason to believe in James at the start. 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. 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. Domo CEO Josh James leaves | exechange 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.. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Whos obsolete. 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. Box Who can say it? Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. But James has been heavily disinclined to sell, two banking sources told Business Insider. Pre-IPO, James has 91.7% of the votes. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. 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. Josh James & Domo: DoubleUnicorns How Things Are Different Josh James 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. Who pays. Join Facebook to connect with Josh James and others you may know. Again. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. A look at Domo's collaboration chat tools, Buzz. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. 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. Josh James Domo 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. James said his company was so advanced that we dont really have a competitor yet.. To subscribe, click here. Who is silent. But Domo seems to have rebounded, with the company reportingbetter-than-expected first-quarter results on Thursday. Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. The company competes (to varying degrees) against software giants such as SAP, Microsoft and Oracle, in addition to smaller niche players such as Domo.