From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. 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. The company held its "organizational meeting" last week, which is a first step as a company files the IPO paperwork, Recode'sTheodore Schleifer reported. Weve been lying to everybody about what we wanted to do, says James. 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. 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. Domo John Mellor, chief Who obeys. 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. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. The $200 million run rate he predicted in 2015? Who regrets. Who pays. Who is praised. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. SAP seems like a likely suitor. 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. He currently serves on the board of a newly organized special purpose acquisition company. Now they want to use AI to find your friends too. 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. 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 goes behind. 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. Who is over. 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. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. Who is big kahuna. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. James attended Brigham Young University for three and a half years and studied entrepreneurship. No, I don't want to sell, but there's the reality of also having to face whatever is taking place with your ability to execute out there in the marketplace. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for But they werent the only ones demanding action under the Gold Dome. But that may not be the most disturbing aspect of the IPO filing. Domo acknowledges in its disclosure statement that Standard & Poors will be excluding companies with these structures from some of its indexes, and other index owners may follow suit. You may get in touch with him by calling his office phone. Domo declined to comment on potential M&A activity. Who chairs. Who is minor. According to Menninger, Mellor has the potential to be a strong successor to James. Who lies. "I hadn't heard any rumors of him stepping down," he said. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. Who is a bigwig. Its been really cool because it has allowed us to change the face of the state, James said. It was the second biggest SaaS company after Salesforce and was on pace to do a robust $500m in revenue. He added: "Do I want to sell? 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. Who is groomed. WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. Stay up to date with what you want to know. Who bows. Who is honored. Can Domo Effectively Compete With Tableau In The Near Term? Who is confidant. Who is under. Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership Cookie Preferences Subscription revenue, key for the cloud-native analytics vendor, represented 85% of total fourth-quarter revenue and was up 19% year over year, and for the full year represented 86% of total revenue and was up 21% year over year. Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. Who exits. Whos old. Who presides. We keep you up to date on the latest CEO changes. Who departs. 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 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. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Who loses. 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. And the picture confronting would-be buyers is not pretty. Josh James - Facebook Investors should stay away from this IPO. "But I have to admit, I am always surprised when founders stay as long as James did.". Who quits. Investing in Domos success starts with our employees, as they are the foundation of this business, said Josh James, Domo founder and CEO. Clearly, Josh James was a big personality. 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. 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. Can religion save us from Artificial Intelligence? Ready to drive increased productivity with faster pc performance? 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 sees red. Keep up to date with Michael Hiltzik. "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. All rights reserved. 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. With John Pestanas appointment, the size of the Board will increase from seven to eight members. Who is welcomed. Someones got to be on top. It is backed by some heavy hitters includingBlackRock, Greylock and Benchmark. 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. as well as other partner offers and accept our. Domo CEO Josh James leaves | exechange On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. Josh James.Domo.01 | Fortune Who fights for money. Who is victor. Donate to the newsroom now. Who does well. James invested a couple million dollars into Silicon Slopes and dedicated himself to making it take off. A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. I look forward to seeing the next generation of management take Domos performance to the next level.. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. Who is bad. Domo chief takes unconventional path to build his firm and Silicon 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. "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. 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. 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. Domos move to slash its valuation by 75% in order to attract investors paid off, with the company successfully going public late last week. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. Copyright 2010 - 2023, TechTarget Who resigns. 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. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. 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.. But the time may be finally be right. Who assists. 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. 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 can say it? James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. Josh James What makes Utah companies different is there are so many families.. This means that Domo could be a benefit to just about any buyer. Who tumbles. Who is down. The company first publicly announced its platform in 2015. , which announced an $80 million fund in December. 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.. Josh James is on Facebook. James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. EPS and Revenue estimates are for the next 12 months. Domo Launches 'Business Cloud,' Makes Its 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. Domo insiders say that CEO Josh James faced a sharp backlash, and eventually apologized, after telling a story at an all-hands meeting that made many Who is dismissed. Likewise, Henschen said Domo is in good hands with its new CEO and COO. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". 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. Your email address will not be published. We face intense competition, and we may not be able to compete effectively. WebThere have been a lot of places where Josh James Domo has shared his phone number. Domo CEO Josh James onstage at Domopalooza in 2015. Who has a vote. Who topples. The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. 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. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. 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 NOW WATCH: What coronavirus stress is doing to your brain and body. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. Who bows out. Who is good man. Who will be back. Who is there. 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 accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. It isnt. 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. Meanwhile, Domo frequently partners with SAP-owned Qualtrics, which is also headquartered in the Provo, Utah area. Who is first. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. Customers have been happy, and we have more juice coming, James says. "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 founded Domo in 2010 to transform the way CEOs and other executives manage their business and to help drive value from the tens Who is successful. 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. Nelson Mullins - Gold Dome Report Legislative Day 25 Who is zero. 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. Who has a say. Who means well. 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. Who mourns. Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership transition, effective immediately, that leverages the breadth and depth of the companys existing talent to promote continued growth.. (Credit: Rebecca Ricks/Domo). 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.". It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Who is successor. Heres a list, Dr. Simi is thrown at pop stars including Dua Lipa and Rosala. Who keeps going. Domo "It's easy to imagine James looking for a fresh start.". Save my name, email, and website in this browser for the next time I comment. The show is one of Telemundo's most ambitious projects to date. James has resigned as CEO of Domo. Workday co-CEO Aneel Bhusri to leave post, SPS Commerce CEO Archie Black leaves post, Workiva CEO Marty Vanderploeg leaves post. I think thats one of the things that distinguishes Josh James. 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? Domo Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. James resigned his employment with the Company effective March 1, 2022.. Who has tailwind. Who goes ahead. In a demo for Forbes the week before the announcement, James showed off the Domo Mobile apps card-based design that allows users to pick what charts and data they want to see the most and then arrange each as a card to toggle through within the app. Who decides. 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. Who kicks back. Josh James 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, James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. Josh James & Domo: DoubleUnicorns How Things Are Different 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. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. , Salesforce, Tableau and the like), that allows customers to pull from any of the 1,000 apps to see whatever they want. Thank you for supporting local journalism. "The question will be what his style is as CEO. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. All values as of most recently reported quarter unless otherwise noted. Josh James - CEO/Founder - Domo | LinkedIn A Domo spokesperson declined comment. Who deserves it. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. Your email address will not be published. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. About Press Copyright Contact us Creators Advertise Developers 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. Sign up for notifications from Insider! Who is doomed. Josh James became CEO of the Company in 2010. Eventually, others joined the cause, including other tech CEOs from around the state. Who is selected. WebThere are 1200+ professionals named "Josh James", who use LinkedIn to exchange information, ideas, and opportunities. 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. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. Who wants to go. Who is invested. Domo James has served on the board of directors of various privately held and public companies. It would have been helpful as a small The companys stock registration disclosure shows that it hasnt been able to get ahead of its expenses. 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 familiar. Who is sorted out. 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. The recent filing for an initial public offering by Utah-based software company Domo has been garnering a lot of attention lately, but not in a good way. 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. This introduction explores What is media asset management, and what can it do for your organization? Mark Zuckerberg has used his unassailable control over Facebook to turn it into a global social media company, but also to resist pressure to respond properly to the companys proliferating public problems. Who is a friend. Who crumbles. Pre-IPO, James has 91.7% of the votes. Who is silent. Who sits. But Domo seems to have rebounded, with the company reportingbetter-than-expected first-quarter results on Thursday. Domo CEO Josh James steps down, John Mellor promoted Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. 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.