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. Mellor Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. 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 $2 billion. With the IPO filing on June 1, however, the curtain has opened on Domos performance. Who signs. Stay up to date with what you want to know. Donate to the newsroom now. Whos in. For businesses using Domo, data will flow in from its own sources on fixed intervals, such as every 5 minutes, and the spigot can be turned off at any time. Who is at C-level. Box sltrib.com 1996-2023 The Salt Lake Tribune. From trying to get computer science classes in every school to improving air quality, James and the Silicon Slopes team is invested in making Utah a great place for people to work. But James has been heavily disinclined to sell, two banking sources told Business Insider. Currently, there is a lot of positive discussion and criticism about him. His concentration, dedication, and hard work have assisted him to get this position. Its been really cool because it has allowed us to change the face of the state, James said. Who soothes. (function($) {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 declined to comment on potential M&A activity. 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 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 lies. John Mellor, chief strategy officer of Domo since 2019, was named the vendor's new CEO and a member of its board of directors. Within days, James was working from his hospital bed. 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. How to assess the Push-out Score: a 10-step guide. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. Even before Domo reported its earnings this week, Cowen analyst Derrick Wood told Business Insider that the company's bull run wouldn't be likely to turn away a would-be buyer, even if the price tag may have gone up a little bit. Facebook gives people the power to share and makes the world more open and connected. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. SAP seems like a likely suitor. 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 Who. 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. Who is dismissed. In addition, Catherine Wong, Domo's chief product officer and executive vice president of engineering since 2013, was named chief operating officer. It hit a $2 billion valuation by 2016, before many people had even heard of it. Who is sad. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. 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. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. 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. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". 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. Please enable Strictly Necessary Cookies first so that we can save your preferences! Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. "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.". Hes willing to go against convention and try new things, and thats not always easy.. 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. I sold Omniture when we felt like we should have sold Omniture and it was the right time.". In the first quarter ended April 30, it lost another $45.5 million on revenue of $32 million. 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. It was profitable and already kicking off $100m a year in cash flow.". 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. (exechange) Silicon Slopes, Utah, March 1, 2022 Josh James, chief executive of Domo, leaves. Who is minor. Who is victim. 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. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. Who serves. WebJosh James, Founder and CEO, Domo. I'm certainly not opposed to selling the company. 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. 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. Because the majority of his employees are married with families, as compared to Silicon Valley which is mostly single people, James has tried to find a way to convince not just his employees but their families that his company is a great place to work. 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. 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. Defeating Ransomware With Recovery From Backup. Who leaves late. 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. We are using cookies to give you the best experience on our website. Likewise, Henschen said Domo is in good hands with its new CEO and COO. 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 topples. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. WebOne 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. 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, 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. 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. 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. Different people have different leadership styles. Who has a say. 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. He currently serves on the board of a newly organized special purpose acquisition company. Whos number 2. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Ari Emanuel lets his AI alter ego open Endeavors earnings call, Sam Bankman-Fried increasingly isolated as another associate takes a plea deal. Who is family. Who resigns. James said his company was so advanced that we dont really have a competitor yet.. Members of the public flooded the State Capitol again on Tuesday. About Press Copyright Contact us Creators Advertise Developers 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. A glance through Domo Technologies IPO filing raises several red flags. The IPO wont change that materially. You also can contact with him through Facebook, twitter and email. Your email address will not be published. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. Keep up to date with Michael Hiltzik. Who bows. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. This is based on 32.8 million weighted average sales outstanding basic and diluted. Who recovers. Who mourns. Who obeys. And full-year revenue also increased from 23%, going from $210 million at the end of January 2021 to $258 million at the end of January 2022. Who chairs. By clicking Sign up, you agree to receive marketing emails from Insider "I hadn't heard any rumors of him stepping down," he said. 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. Who wishes luck. The company competes (to varying degrees) against software giants such as SAP, Microsoft and Oracle, in addition to smaller niche players such as Domo. Who is groomed. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. But sources tell Business Insider the company's CEO Josh James, who has majority voting power, is reluctant to sell despite encouragement from bankers. Who has to go. 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 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. 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. Weve been lying to everybody about what we wanted to do, says James. Who repeats. He founded Silicon Slopes, an initiative with the mission to promote the interests of Utahs high-tech industry and is a board member of Parity.org, where he was a co-founder of the Parity Pledge initiative. , which announced an $80 million fund in December. Who is bad. Who stumbles. 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. 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. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. Who packs out. Follow her on Twitter @elisynkay. Who deserves it. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! Who is familiar. 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. 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.