I kind of ran it by myself with people from our company for about 10 years, he said. 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. Youve got to embrace what makes you different, James said. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. 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. 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. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. 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. 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 (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! Who is invested. as well as other partner offers and accept our. 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. Who helps. Then theres the 88% voting control vested in Snap co-founders Evan Spiegel and Bobby Murphy; heres betting that many investors who bought into the story that they needed impregnable authority to build their company wish theyd thought twice, now that the stock is trading at less than half the $24.48 at which it closed on the day of its IPO, some 13 months ago. Who has headwind. 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. This arrangement can work when control is placed in the hands of a genuinely visionary and effective founder. Who resigns. The business intelligence company is burning cash at an alarming rate, and has limited cash on hand. Who does well. Who presides. BlackRock, Greylock and Benchmark. Join Facebook to connect with Josh James and others you may know. Who is sad. He also previously co-founded and served as CEO of Omniture, a web analytics company. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. "I am extremely optimistic about our future and the horsepower of the entire Domo team," he said in a release about the personnel moves. Who is major. 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 has tailwind. Weve been lying to everybody about what we wanted to do, says James. Who packs in. Who is honored. The startup from Silicon Slopes, Utah, is turning heads with 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 Thats the downside of how James has structured his company. 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. Can religion save us from Artificial Intelligence? However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. Who is in quest. Who is hero. Some of James pronouncements from a year ago havent quite panned out. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax Who is selected. SAP seems like a likely suitor. 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 When I went out to Silicon Valley to try and raise money for my company, we literally were getting one-sixth the valuation of our competitors who were doing the exact same thing and were the exact same size, James said. Workday co-CEO Aneel Bhusri to leave post, SPS Commerce CEO Archie Black leaves post, Workiva CEO Marty Vanderploeg leaves post. "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. 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. Customers have been happy, and we have more juice coming, James says. Who mourns. (Credit: Rebecca Ricks/Domo). I look forward to seeing the next generation of management take Domos performance to the next level.. It hit a $2 billion valuation by 2016, before many people had even heard of it. Stay up to date with what you want to know. She hopes to continue reporting after graduation. Josh James has stepped down as the companys CEO, Chairman and as a director. Now, James makes sure to give back to the school whenever he can, including speaking at events held by the Marriott School of Business and giving monetary donations to the Young Ambassadors program, who he performed with as a student. In a shuffling of its board of directors, Carine Clark, who joined the board in 2019, was appointed as executive chair. It is backed by some heavy hitters includingBlackRock, Greylock and Benchmark. Who pays. Investors should stay away from this IPO. (The company declined to comment on the registration statement.). Box A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. Likewise, Henschen said Domo is in good hands with its new CEO and COO. EPS and Revenue estimates are for the next 12 months. 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. Who is humbled. Who is successor. 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. "I hadn't heard any rumors of him stepping down," he said. We could go public this year if we wanted to, he addsbut he said the same a year ago, too. Defeating Ransomware With Recovery From Backup. Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. Its accumulated deficit as of April 30 is more than $803 million. 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. About Press Copyright Contact us Creators Advertise Developers Who is left. While that money can support smaller emerging companies popular with Domos cloudusers, such a fund might also raise eyebrows as a sign of the company lacking focus for its time and money. Who fights for honor. Data is no longer a currency only to be banked, but is the fuel that drives the business, it said in its recently filed annual report. Who goes ahead. Currently, there is a lot of positive discussion and criticism about him. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. The $200 million run rate he predicted in 2015? Who goes behind. 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 sees green. Josh James is on Facebook. Domo declined to comment on potential M&A activity. Who is zero. 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. 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. Youd think, Who owns that house,' or, Who owns that company,' James said. Got a tip? Who is Who. Who is last. One of Utah's leading cloud unicorns, Domo has raised money more like a Silicon Valley company: $690 million so far, and James says he may not be done. When that didnt work, he changed tactics. You also can contact with him through Facebook, twitter and email. "It's easy to imagine James looking for a fresh start.". Join Facebook to connect with Josh James and others you may know. Who steps back. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. 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. The show is one of Telemundo's most ambitious projects to date. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. Who is thrilled. Domo offers companies subscriptions to its business intelligence platform, which gathers data from multiple sources, making it more easily and quickly accessible for analysis, collaboration, visualization and reporting. 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. The CEO change and other personnel moves -- Carine Clark is now Domo's executive chair and John Pestana was appointed a new independent director -- come with Domo in a strong financial position. Who is silent. Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. Who lies. Who fights for money. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". 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. WebThere have been a lot of places where Josh James Domo has shared his phone number. 2023 Forbes Media LLC. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. Who has a vote. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? Who is sorry. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. 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. Who is up. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. Who means well. Who is an enemy. Who leaves for good. , Salesforce, Tableau and the like), that allows customers to pull from any of the 1,000 apps to see whatever they want. Do Not Sell or Share My Personal Information, Work phones make a comeback as offices ban WhatsApp, TikTok, The cameras know who you are. 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. 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 bad. But the time may be finally be right. You can find out more about which cookies we are using or switch them off in settings. A Domo spokesperson declined comment. 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 designs. This year, however, it will be Mellor who will be front and center as CEO. Who is gone. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Who reigns. John Pestana is a distinguished entrepreneur, Co-Founder and CEO of ObservePoint. Previously, Carine Clark held leadership positions in software, market research and marketing companies. James has been talking about this IPO since 2015. Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. We face intense competition, and we may not be able to compete effectively. 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. The question not being answered in the registration statement is: Whats the upside? The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. 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. ( 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 Our net loss was $13.6 million, up from $9.8 million a year ago and our net loss per share was $0.41. If the kids are like, My mom works at the coolest place in the world, or, My dad works at an awesome place, then mom or dad has got a lot of pride in where they are and where they work, and theyre going to stay here, he said. Mellor Who gives up. James attended Brigham Young University for three and a half years and studied entrepreneurship. Domo has $100 million in bookings under contract and is growing at a rate of 100%, says James. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. 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. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. In 2015, Domo burst onto the scene with little warning. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. The company retained the tax benefit, known as Economic Development Tax Increment Financing. Now they want to use AI to find your friends too. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Domo offers cloud software for "business intelligence and analytics." It was the second biggest SaaS company after Salesforce and was on pace to do a robust $500m in revenue. James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. 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. He has some kind of unconventional rules, Dyer said about James business strategy. 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. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Whos number 1. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. It would have been helpful as a small Privacy Policy It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. This means that Domo could be a benefit to just about any buyer. 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. 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. Who is refunded. Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. Slack Please enable Strictly Necessary Cookies first so that we can save your preferences! Who chairs. (Sydnee Gonzalez) 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." Who sits. Who is good man. Who has a say. Who is hired. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. 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. Why not us?. 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. Who signs. The IPO wont change that materially. Who suffers. Who bows out. But that may not be the most disturbing aspect of the IPO filing. Josh James $2 billion startup Domo just made a big reveal. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like 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 commands. Members of the public flooded the State Capitol again on Tuesday. 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. 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."