The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. 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. Why not us?. 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 James is on Facebook. Facebook gives people the power to share and makes the 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. Can Domo Effectively Compete With Tableau In The Near Term? Who deserves it. Who is gone. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! Who is at rest. 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. Who is bad. Josh founded Domo in 2010 with the mission of transforming business by Who is major. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. 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. All rights reserved. Who is fired. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). Youve got to embrace what makes you different, James said. Mellor Last year was the big reveal, until it wasnt. 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. The company competes (to varying degrees) against software giants such as SAP, Microsoft and Oracle, in addition to smaller niche players such as Domo. WebJosh James, Founder and CEO, Domo. Stay up to date with what you want to know. SAP seems like a likely suitor. Donate to the newsroom now. Who is big kahuna. 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. 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. Domo has $100 million in bookings under contract and is growing at a rate of 100%, says James. 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. Who is honored. "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. "Digital transformation remains a massive opportunity and we are well positioned to help customers improve the millions of decisions and processes throughout their organizations with data.". Who is dismissed. Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like Who betrays. Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. Sign up for notifications from Insider! Domo offers cloud software for "business intelligence and analytics." "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. Who says what. 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. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for Editor in Chief Lisi Merkley is majoring in both journalism and Spanish. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. 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 lies. Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. 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. 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. 2023 Forbes Media LLC. Who scolds. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. 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. Can religion save us from Artificial Intelligence? He also previously co-founded and served as CEO of Omniture, a web analytics company. The terms for the new money, James says, were clean. Says James: Haters gonna hate., This is a BETA experience. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. Another aspect of James management that should unnerve investors is his apparent predilection for using Domo as his personal piggy bank, with family members given drawdown rights. I think thats one of the things that distinguishes Josh James. 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. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. In pink tops and white pants, women celebrate free period products becoming available in Utahs state buildings, Proposal to boost Utah bar licenses gets smaller with another round of cuts by lawmakers, Moab, Park City cry foul as Utah lawmakers target rules for vacation homes. Who is ousted. The company first publicly announced its platform in 2015. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. (The company declined to comment on the registration statement.). I sold Omniture when we felt like we should have sold Omniture and it was the right time.". Use Forbes logos and quotes in your marketing. How Much Can Domo Grow Its Revenues In The Coming Years? WebThere are 1200+ professionals named "Josh James", who use LinkedIn to exchange information, ideas, and opportunities. 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. Who keeps going. 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. 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. 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. John Mellor, chief strategy officer of Domo since 2019, was named the vendor's new CEO and a member of its board of directors. 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 topples. Who means well. Who is in quest. 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. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. Facebook gives people the power to share and makes the world more open and connected. Join Facebook to connect with Josh James and others you may know. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. The companys stock registration disclosure shows that it hasnt been able to get ahead of its expenses. 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." Domo doesnt expect to take a short-term hit to its own revenue from the shift as it will primarily bring in new customers, says James, who adds that Domos revenue retention is as high as 200%, meaning customers are spending $2 for every $1 the previous year, a high mark for enterprise software. 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. This means that Domo could be a benefit to just about any buyer. You also can contact with him through Facebook, twitter and email. Who is at eye level. WebThere have been a lot of places where Josh James Domo has shared his phone number. as well as other partner offers and accept our. With John Pestanas appointment, the size of the Board will increase from seven to eight members. Josh James received $537,000 in salary, bonus and other compensation last year; but it looks like he may have pocketed more with these side deals. WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. Who decides. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Whos out. 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. 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. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. All Rights Reserved. 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. , Salesforce, Tableau and the like), that allows customers to pull from any of the 1,000 apps to see whatever they want. 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 Now they want to use AI to find your friends too. 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 vested. "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. 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. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. Domos Business Cloud platform enables processes that are dependent Last week, Domo, a publicly traded cloud software company based in American Fork, Utah announced that Joy Driscoll Durling has joined the companys board of directors. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. 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. Slack Who is Who. James might be at the top of Silicon Slopes now, but he hasnt forgotten how his time at BYU allowed him to see that students like him could start successful companies. When that didnt work, he changed tactics. Regardless of Domo's newly-solid footing, however, it's long been eyed as a potential takeover target. 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. His concentration, dedication, and hard work have assisted him to get this position. Clearly, Josh James was a big personality. 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. Who tumbles. But James has been heavily disinclined to sell, two banking sources told Business Insider. To subscribe, click here. 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. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. Who is bad man. Josh James is on Facebook. 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 $258 million. (function($) {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. Sign up for notifications from Insider! Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. Who is right. 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. James attended Brigham Young University for three and a half years and studied entrepreneurship. Who suffers. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. Who chairs. Who is victor. (Credit: Rebecca Ricks/Domo). Whos number 1. Who is sorted out. Who earns it. It would have been helpful as a small Domo CEO Josh James onstage at Domopalooza in 2015. In a shuffling of its board of directors, Carine Clark, who joined the board in 2019, was appointed as executive chair. Who is minor. Josh James became CEO of the Company in 2010. 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. Who is groomed. Who excites. Who reigns. Currently, there is a lot of positive discussion and criticism about him. Who resigns. The Editors note This story is available to Salt Lake Tribune subscribers only. Different people have different leadership styles. 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. 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. In 2015, Domo burst onto the scene with little warning. Total Enterprise Value to Total Revenue (ttm). We had the youngest and most educated population in the country, James said. BlackRock Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. 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. "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. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. This has led him to achieve the position of one of the richest persons in the world. If we werent able to do IVF, we wouldnt be able to have a family at all.. What makes Utah companies different is there are so many families.. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. 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. James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. 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. Thats the downside of how James has structured his company. (exechange) Silicon Slopes, Utah, March 1, 2022 Josh James, chief executive of Domo, leaves. Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019. Who repeats. Who is thrilled. EPS and Revenue estimates are for the next 12 months. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. But the time may be finally be right. (Credit: Domo). Because of Domos fertility benefits, Stephan was able to successfully complete a round of in vitro fertilization and is currently in the second trimester of her pregnancy. Domo 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. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. 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. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. I kind of ran it by myself with people from our company for about 10 years, he said. Who is doomed. He added: "Do I want to sell? 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. "Josh has said numerous times he would love to be running Domo when he's 70 years old; but he's also said numerous times he will always look at any acquisition offer that comes along as it is the responsibility that he has to shareholders," Domo spokeswoman Julie Kehoe said. "But I have to admit, I am always surprised when founders stay as long as James did.". Who comes. Hes also a sign of a crisis, ChatGPT who? Who hurts. 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. Who is welcomed. The way to sit here was not a simple process. Who is confident. James invested a couple million dollars into Silicon Slopes and dedicated himself to making it take off. 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. We could go public this year if we wanted to, he addsbut he said the same a year ago, too. 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. 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. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. 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. Whos obsolete. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. All values as of most recently reported quarter unless otherwise noted. Who is family. It was profitable and already kicking off $100m a year in cash flow.". , which announced an $80 million fund in December. It hit a $2 billion valuation by 2016, before many people had even heard of it. Who leaves for good. We face intense competition, and we may not be able to compete effectively. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. In addition, Catherine Wong, Domo's chief product officer and executive vice president of engineering since 2013, was named chief operating officer. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. Who is silent. Hes willing to go against convention and try new things, and thats not always easy.. Whos number 2. Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. 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'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. Who is successor. Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. Who sees green. Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think 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. To be fair, investors had reason to believe in James at the start. BlackRock, Greylock and Benchmark. Who is hired. (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). Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. The company held its "organizational meeting" last week, which is a first step as a company files the IPO paperwork, Recode'sTheodore Schleifer reported. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. Who wins. James has served on the board of directors of various privately held and public companies. Who contributes. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. Thank you for supporting local journalism.
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