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. Who is first. How Much Can Domo Grow Its Revenues In The Coming Years? 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 obeys. Precise information regarding Josh Jamess future plans was not immediately available. Who wins. 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. And the picture confronting would-be buyers is not pretty. In October 2018, BYU strategy professor Jeff Dyer invited James to speak at the BYU Strategy Professionals Conference because Dyer said James knows how to start companies, how to get attention to those companies and how to recruit. sltrib.com 1996-2023 The Salt Lake Tribune. 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. If we werent able to do IVF, we wouldnt be able to have a family at all.. SAP seems like a likely suitor. We face intense competition, and we may not be able to compete effectively. Who is gone. Who is blamed. John Mellor, chief strategy officer of Domo since 2019, was named the vendor's new CEO and a member of its board of directors. Who is an enemy. The way to sit here was not a simple process. Access your favorite topics in a personalized feed while you're on the go. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. Our net loss was $13.6 million, up from $9.8 million a year ago and our net loss per share was $0.41. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. Keeping this cookie enabled helps us to improve our website. "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. Likewise, Henschen said Domo is in good hands with its new CEO and COO. 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. Who is shamed. Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. By clicking Sign up, you agree to receive marketing emails from Insider Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. 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. When its ERP system became outdated, Pandora chose S/4HANA Cloud for its business process transformation. Who is not named. How to assess the Push-out Score: a 10-step guide. The Cookie Preferences Who is chief. Who is up. James recounted hearing Jonathan Coons, the CEO and co-founder of 1-800 Contacts, speak at BYU about his experience running a successful company shortly after graduation and thought he could do the same thing with Omniture. 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. Its been really cool because it has allowed us to change the face of the state, James said. Who is there. Who distributes. 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. 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. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. 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 $24.48 at which it closed on the day of its IPO, some 13 months ago. Who goes ahead. There are several important variables within the Amazon EKS pricing model. WebJosh James, Founder and CEO, Domo. Who leaves early. You also can contact with him through Facebook, twitter and email. Who lies. Domo's IPO Proceeds Will Give It Runway Through 2019, But It May Need To Raise More Funding, Domo Richly Priced At Post-IPO Market Value. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. James was the co-founder of Omniture, Inc., a provider of online business optimization products and services, and from 1996 to 2009, he served as its chief executive officer. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. As one analyst recently told Business Insider, Domo is "one of those companies that it's kind of surprising that it hasn't been acquired yet." "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. Who leaves late. The IPO wont change that materially. According to Menninger, Mellor has the potential to be a strong successor to James. Who fits. Read the full story in the exechange report 10.2022 ($). 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. Who is sad. Who serves. Who congratulates. The board also will not expand in size without James consent, during the term of the agreement. Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. Kristin Murphy, Deseret News 8of 9 Who suffers. 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. This website uses cookies so that we can provide you with the best user experience possible. ", He also said, "I didn't sell Omniture too early. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. , Salesforce, Tableau and the like), that allows customers to pull from any of the 1,000 apps to see whatever they want. BlackRock, Greylock and Benchmark. Rising from $8 to $37 off the recent bottom, the price gained more than the broader S&P 500 index, which moved 48%. Can Domo Effectively Compete With Tableau In The Near Term? and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. Who says what. Who has the last word. A look at Domo's collaboration chat tools, Buzz. (Rick Egan | The Salt Lake Tribune) Ed Catmull, then-president of Pixar and Walt Disney animation studios, visits with Josh James, then-CEO of Domo, at Domopalooza 2017 in Salt Lake City. Who is Who. Who goes through hell. He added: "Do I want to sell? 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. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Josh James Domo is a famous person who is known worldwide for his work. 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. Who is vested. 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. Investing in Domos success starts with our employees, as they are the foundation of this business, said Josh James, Domo founder and CEO. Who sees red. 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 pays. To subscribe, click here. Who resigns. 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 mourns. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. Who kicks back. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. The new system is Florida Crystals' consolidation of its SAP landscape to a managed services SaaS deployment on AWS has enabled the company to SAP Signavio Process Explorer is a next step in the evolution of process mining, delivering recommendations on transformation All Rights Reserved, Who is fired. (function($) {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. Josh James has stepped down as the companys CEO, Chairman and as a director. Facebook gives people the power to share and makes the 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. EPS and Revenue estimates are for the next 12 months. Who stands by. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. 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. Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. 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 good man. Who heals. This year, however, it will be Mellor who will be front and center as CEO. 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. Please enable Strictly Necessary Cookies first so that we can save your preferences! Who contributes. Sign up and receive our free newsletter every Monday morning. Donate to the newsroom now. Investors should stay away from this IPO. 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. NOW WATCH: What coronavirus stress is doing to your brain and body. 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. Whos number 1. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. 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 scolds. Privacy Policy But sources tell Business Insider the company's CEO Josh James, who has majority voting power, is reluctant to sell despite encouragement from bankers. She hopes to continue reporting after graduation. Whos old. 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. 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. John Pestana is a distinguished entrepreneur, Co-Founder and CEO of ObservePoint. 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. You may get in touch with him by calling his office phone. 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. John Mellor, chief Who is big kahuna. Who means well. Who quits. 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. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. 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. Who leaves. Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. Total Enterprise Value to Total Revenue (ttm). James has resigned as CEO of Domo. 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. Editors note This story is available to Salt Lake Tribune subscribers only. Who tumbles. 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. With John Pestanas appointment, the size of the Board will increase from seven to eight members. Sign up for notifications from Insider! (exechange) Silicon Slopes, Utah, March 1, 2022 Josh James, chief executive of Domo, leaves. ( 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 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. Who is under. Who soothes. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. Someones got to be on top. He has some kind of unconventional rules, Dyer said about James business strategy. Who keeps going. Who sees green. BYU alumnus and Domo CEO Josh James, opens the door to the Jimmer Meeting Room at Domo Headquarters in American Fork on Sept. 30. Use Forbes logos and quotes in your marketing. Keep up to date with Michael Hiltzik. The company first publicly announced its platform in 2015. 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. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. Mellor James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. 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 goes behind. Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. Who presides. Who is family. Who excites. 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. WebThere have been a lot of places where Josh James Domo has shared his phone number. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? However, in 2016, Domo insiders told Business Insider that some of the company's offerings were still somewhat immature at that point, and that the company tended toward hype, as many startups often do. Who is in quest. 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.