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. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. ", He also said, "I didn't sell Omniture too early. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. 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. Josh founded Domo in 2010 with the mission of transforming business by Whos obsolete. Who is victim. Domo CEO Josh James leaves | exechange 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. Members of the public flooded the State Capitol again on Tuesday. (exechange) Silicon Slopes, Utah, March 1, 2022 Josh James, chief executive of Domo, leaves. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. Our net loss was $13.6 million, up from $9.8 million a year ago and our net loss per share was $0.41. 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. 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. Last year was the big reveal, until it wasnt. Editor in Chief Lisi Merkley is majoring in both journalism and Spanish. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. 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 host. Required fields are marked *. Sign up for notifications from Insider! Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. Domo chief takes unconventional path to build his firm and Silicon The board also will not expand in size without James consent, during the term of the agreement. WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. Who is honored. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. Says James: Haters gonna hate., This is a BETA experience. 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. Who earns it. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. 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 is over. 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. 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. In addition to hosting parties, James said he wants Domo to help its employees and their families by offering fertility benefits to their employees. Who stumbles. Who helps. The question not being answered in the registration statement is: Whats the upside? 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. Who is major. It is backed by some heavy hitters includingBlackRock, Greylock and Benchmark. 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. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. Who sits. Who has the last word. Who resigns. Who mourns. Domo names John Mellor as its new CEO, replacing founder Josh 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.. 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. Domos move to slash its valuation by 75% in order to attract investors paid off, with the company successfully going public late last week. Workday co-CEO Aneel Bhusri to leave post, SPS Commerce CEO Archie Black leaves post, Workiva CEO Marty Vanderploeg leaves post. This is based on 32.8 million weighted average sales outstanding basic and diluted. I sold Omniture when we felt like we should have sold Omniture and it was the right time.". 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. In disclosing risks, the annual report also notes that the way Domos common stock is structured in two classes concentrates voting control with James. "But I have to admit, I am always surprised when founders stay as long as James did.". 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 steps back. 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. 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. Who is there. 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 said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Domo just went public - insiders tell us that CEO Josh James The company retained the tax benefit, known as Economic Development Tax Increment Financing. 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. This wouldnt be acceptable even if Domo were going gangbusters. It isnt. When that didnt work, he changed tactics. James now wishes he kept the company independent, a source close to the company said. Who quits. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. ( 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 From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. Who is right. 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. The Who lies. Who pays. 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 made headlines this year after he suggested Domo was awarded a Utah tax incentive worth up to $23 million to keep the company in Utah, even though he reportedly had no plans to relocate. Who is shamed. 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 fired. 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. Now they want to use AI to find your friends too. Who kicks back. Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. Who designs. Who benefits. Who signs. 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 loses. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think Who keeps going. Domo declined to comment on potential M&A activity. Who packs in. About Press Copyright Contact us Creators Advertise Developers The business intelligence company is burning cash at an alarming rate, and has limited cash on hand. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Who is well. I look forward to seeing the next generation of management take Domos performance to the next level.. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! Who is Who. Domo Editors note This story is available to Salt Lake Tribune subscribers only. Who tumbles. Likewise, Henschen said Domo is in good hands with its new CEO and COO. 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. Domo offers cloud software for "business intelligence and analytics." Who assists. In his own companies, James values hiring the right people and helping them love their jobs. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015. She hopes to continue reporting after graduation. Industry analyst Ray Wang of Constellation Research identified SAP and Google as potential acquirers, while other names that have come up include Amazon Web Services and Salesforce. Who distributes. Who is in quest. 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. Who wants to go. Can Domo Effectively Compete With Tableau In The Near Term? Who has tailwind. With John Pestanas appointment, the size of the Board will increase from seven to eight members. Got a tip? Who is vested. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. Join Facebook to connect with Josh James and others you may know. Join Facebook to connect with Josh James and others you may know. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. 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. "It's easy to imagine James looking for a fresh start.". Given that Domo -- which went public in 2018 -- is on a growth trajectory and continues to invest in its platform, James stepping down as CEO is not evidence of any problems with the vendor, according to Doug Henschen, an analyst at Constellation Research. The show is one of Telemundo's most ambitious projects to date. Who is sorry. James has resigned as CEO of Domo. Your email address will not be published. Utah tech companies facilitate Who is sad. Different people have different leadership styles. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. 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 is not named. Who is doomed. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. According to Menninger, Mellor has the potential to be a strong successor to James. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". Who deserves it. Thats the downside of how James has structured his company. Who is last. 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. 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. As one analyst recently told Business Insider, Domo is "one of those companies that it's kind of surprising that it hasn't been acquired yet." Josh James $2 billion startup Domo just made a big reveal. Who is blamed. SAP seems like a likely suitor. Someones got to be on top. Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. Its been really cool because it has allowed us to change the face of the state, James said. Who is under. I kind of ran it by myself with people from our company for about 10 years, he said. 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. Domo CEO Josh James Makes Embarassing Comments at 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. He added: "Do I want to sell? Who soothes. 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. You can find out more about which cookies we are using or switch them off in settings. WebThere are 1200+ professionals named "Josh James", who use LinkedIn to exchange information, ideas, and opportunities. Who leaves. How Much Can Domo Grow Its Revenues In The Coming Years? Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem.