It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. Who is victor. In fact, that confidence led him to drop out of BYU only a few classes shy of graduation. Josh James is on Facebook. Members of the public flooded the State Capitol again on Tuesday. Access your favorite topics in a personalized feed while you're on the go. 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. Sign up for notifications from Insider! Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Who hurts. Why not us?. "The question will be what his style is as CEO. Who packs out. 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. Keep up to date with Michael Hiltzik. Kristin Murphy, Deseret News 8of 9 But James has been heavily disinclined to sell, two banking sources told Business Insider. Different people have different leadership styles. Who leaves for good. Josh James became CEO of the Company in 2010. Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019. 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. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. Cookie Preferences "But I have to admit, I am always surprised when founders stay as long as James did.". Who has the last word. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. James attended Brigham Young University for three and a half years and studied entrepreneurship. Youd think, Who owns that house,' or, Who owns that company,' James said. 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. Who goes behind. Donate to the newsroom now. Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. 6:32 p.m.: This post has been updated with the companys declining to comment on its registration statement. Who is left. 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. 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. Someones got to be on top. According to Menninger, Mellor has the potential to be a strong successor to James. To be fair, investors had reason to believe in James at the start. About Press Copyright Contact us Creators Advertise Developers Use Forbes logos and quotes in your marketing. Ari Emanuel lets his AI alter ego open Endeavors earnings call, Sam Bankman-Fried increasingly isolated as another associate takes a plea deal. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. It had been in stealth mode until then, its founder and chief executive, Josh James, explained, building up its customer base and refining its products in secret. The show is one of Telemundo's most ambitious projects to date. Competition in the business intelligence and analytics space has become especially fierce in recent years, making it increasingly important for companies in this space to invest extensively in sales and marketing (S&M) to acquire new customers. 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. Who loses. WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. 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. Can religion save us from Artificial Intelligence? Who fights for money. (Sydnee Gonzalez) Likewise, Henschen said Domo is in good hands with its new CEO and COO. Who is host. It was profitable and already kicking off $100m a year in cash flow.". Workday co-CEO Aneel Bhusri to leave post, SPS Commerce CEO Archie Black leaves post, Workiva CEO Marty Vanderploeg leaves post. 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. "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. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. ( 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 Can Domo Effectively Compete With Tableau In The Near Term? James now wishes he kept the company independent, a source close to the company said. Who kicks back. 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. Who is good. Who is thrilled. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. Who is hired. Who earns it. It is backed by some heavy hitters includingBlackRock, Greylock and Benchmark. "I hadn't heard any rumors of him stepping down," he said. What makes Utah companies different is there are so many families.. Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership "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. Who is sad. 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 $258 million. Who is an enemy. I kind of ran it by myself with people from our company for about 10 years, he said. WebThere have been a lot of places where Josh James Domo has shared his phone number. Thank you for supporting local journalism. Domo CEO Josh James onstage at Domopalooza in 2015. Who is silent. Who is big kahuna. Who speaks. How Much Can Domo Grow Its Revenues In The Coming Years? James was the co-founder of Omniture, Inc., a provider of online business optimization products and services, and from 1996 to 2009, he served as its chief executive officer. (function($) {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. Who is familiar. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax Sign up for notifications from Insider! James said his company was so advanced that we dont really have a competitor yet.. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. Who commands. 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. James has resigned as CEO of Domo. Some of James pronouncements from a year ago havent quite panned out. 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. 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. 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. Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. 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. He has some kind of unconventional rules, Dyer said about James business strategy. But they werent the only ones demanding action under the Gold Dome. Who is replaced. 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. Heres a list, Dr. Simi is thrown at pop stars including Dua Lipa and Rosala. Who stumbles. Who is doomed. Please enable Strictly Necessary Cookies first so that we can save your preferences! Domo Chief Financial Officer Bruce Felt's previous company SuccessFactors, where he was also CEO, sold to SAP for $3.4 billion back in 2012. Who means well. Who has tailwind. Who presides. Who designs. 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. 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. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. 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. 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 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. 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. 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. 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. But that may not be the most disturbing aspect of the IPO filing. All values as of most recently reported quarter unless otherwise noted. Who stands by. Who assists. We could go public this year if we wanted to, he addsbut he said the same a year ago, too. Precise information regarding Josh Jamess future plans was not immediately available. Who fits. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and whole slew of other business-intelligence tools. This has led him to achieve the position of one of the richest persons in the world. Who is a bigwig. John Mellor, chief (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. 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. Who is refunded. To accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. Mellor James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. 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. 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. Who is bad man. Who chairs. Who is a leader. SAP seems like a likely suitor. Comparing Domo's Sales And Marketing Spend With Tableau's, Comparing Domo's Growth And Valuation To Anaplan's. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. In 2015, Domo burst onto the scene with little warning. Who leaves early. 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. Josh James $2 billion startup Domo just made a big reveal. Who is down. 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." Who is confident. Save my name, email, and website in this browser for the next time I comment. Who is at rest. In the first quarter ended April 30, it lost another $45.5 million on revenue of $32 million. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. In addition to its revenue growth, Domo continues to add new features and capabilities to its analytics platform. Who sits. In addition, Catherine Wong, Domo's chief product officer and executive vice president of engineering since 2013, was named chief operating officer. 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. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. Who is not named. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Who is humbled. 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. Who obeys. 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. We face intense competition, and we may not be able to compete effectively. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. 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. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. James sold Omniture to Adobe in 2009 for $1.8 billion. Who betrays. Who is first. 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 ousted. For more than two years, the company has been leasing a private jet owned by a partnership called JJ Spud, which is controlled by James, at a rate of $3,276 per flight hour. It isnt. Who signs. The company retained the tax benefit, known as Economic Development Tax Increment Financing. With John Pestanas appointment, the size of the Board will increase from seven to eight members. Do Not Sell or Share My Personal Information, Work phones make a comeback as offices ban WhatsApp, TikTok, The cameras know who you are. It hit a $2 billion valuation by 2016, before many people had even heard of it. 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. 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. Editors note This story is available to Salt Lake Tribune subscribers only. This introduction explores What is media asset management, and what can it do for your organization? Says James: Haters gonna hate., This is a BETA experience. Who soothes. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. 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. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. 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. Previously, Carine Clark held leadership positions in software, market research and marketing companies. A look at Domo's collaboration chat tools, Buzz. Budgeting Amid Todays Macro Uncertainty: Advice From a CFO, Telemundo Debuts El Domo Del Dinero, The First Original Reality Competition Shot In Its Own Studios, After 5x Recovery, Domo Has No More Room To Grow, The CIO-Plus Of Vivint Smart Home Named To The Board Of Domo. Within days, James was working from his hospital bed. 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 company news release. Hes also a sign of a crisis, ChatGPT who? 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 is zero. Who is good man. 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. Stay up to date with what you want to know. You may get in touch with him by calling his office phone. 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. 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. Got a tip? Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. Wong has been at Domo since 2013 and has long guided Domo on the product side, he noted, and will "no doubt have a big and important role as COO.". Who is a big wheel. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. Who is over. Do Not Sell or Share My Personal Information, chief strategy officer of Domo since 2019, one of the first to pivot to a virtual conference, MicroScope March 2020: Making life simpler for the channel.
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