I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. 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 packs out. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. However, like many companies in their early years, Domo has yet to turn a profit and reported a net loss of $33.2 million during the fourth quarter and $102.1 million for fiscal 2022. James has served on the board of directors of various privately held and public companies. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. He added: "Do I want to sell? It isnt. 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. 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. Who tumbles. 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. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. 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. Copyright 2010 - 2023, TechTarget The $200 million run rate he predicted in 2015? Who leaves. 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 Who is sad. Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. A look at Domo's collaboration chat tools, Buzz. Who is blamed. Who bows out. 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. James attended Brigham Young University for three and a half years and studied entrepreneurship. (Credit: Rebecca Ricks/Domo). He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. 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. Who does well. Who is last. Editor in Chief Lisi Merkley is majoring in both journalism and Spanish. Stay up to date with what you want to know. 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. Who earns it. "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 has a say. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. Your email address will not be published. Who has tailwind. "I hadn't heard any rumors of him stepping down," he said. Within days, James was working from his hospital bed. Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. 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. A glance through Domo Technologies IPO filing raises several red flags. sltrib.com 1996-2023 The Salt Lake Tribune. Who is in quest. NOW WATCH: What coronavirus stress is doing to your brain and body. 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. James has resigned as CEO of Domo. Who resigns. Who decides. "It's easy to imagine James looking for a fresh start.". He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. Who is not named. White House cyber plan would hold software companies liable for attacks, TikTok to set default daily time limit of 60 minutes for minors, TikTok faces bans in a number of countries over security fears. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. 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. "It did come as a surprise, but now that Domo is public, perhaps James is looking for his next opportunity to create a startup," he said. Thank you for supporting local journalism. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. Who is vested. deductible, Report a missed paper by emailingsubscribe@sltrib.comor calling801-237-2900, For e-edition questions or comments, contact customer support801-237-2900or emailsubscribe@sltrib.com. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. Save my name, email, and website in this browser for the next time I comment. Join Facebook to connect with Josh James and others you may know. Its been really cool because it has allowed us to change the face of the state, James 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 congratulates. Youve got to embrace what makes you different, James said. He also previously co-founded and served as CEO of Omniture, a web analytics company. The recent filing for an initial public offering by Utah-based software company Domo has been garnering a lot of attention lately, but not in a good way. 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." Domo declined to comment on potential M&A activity. 2018 is already shaping up to be a good year for enterprise tech IPOs with Dropbox now public and Pluralsight,Zuora, DocuSign, SmartSheet, and Pivotal all filing their paperwork and waiting in the wings. A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". Your email address will not be published. As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. Who recovers. 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. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. Who sees green. The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. Who has to go. Heres a list, Dr. Simi is thrown at pop stars including Dua Lipa and Rosala. 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. Who sits. Who is honored. Who is chief. 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. Last year was the big reveal, until it wasnt. (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. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. 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. Who benefits. Who contributes. All Rights Reserved. The 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. 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. We keep you up to date on the latest CEO changes. Who is there. Whos obsolete. Who is welcomed. In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. Dig into the numbers to ensure you deploy the service AWS users face a choice when deploying Kubernetes: run it themselves on EC2 or let Amazon do the heavy lifting with EKS. Who is victim. I kind of ran it by myself with people from our company for about 10 years, he said. The terms for the new money, James says, were clean. 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. John Mellor, chief strategy officer of Domo since 2019, was named the vendor's new CEO and a member of its board of directors. 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. Total Enterprise Value to Total Revenue (ttm). Got a tip? WebJosh James, Founder and CEO, Domo. 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. Who stumbles. 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. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. The board also will not expand in size without James consent, during the term of the agreement. Who is gone. Stay up to date with what you want to know. Who presides. Who is first. This means that Domo could be a benefit to just about any buyer. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. Josh founded Domo in 2010 with the mission of transforming business by But James has been heavily disinclined to sell, two banking sources told Business Insider. as well as other partner offers and accept our. 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. About Press Copyright Contact us Creators Advertise Developers 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. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. In disclosing risks, the annual report also notes that the way Domos common stock is structured in two classes concentrates voting control with James. 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. 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. I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business. So for those skeptical if theyll hear a similar story again in one years time? 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 wishes luck. Who is over. Josh Jamess duties as CEO will be taken over by John Mellor, most recently Chief Strategy Officer at Domo Inc. Josh Jamess move coincides with a management shake-up also involving the position of Chief Operating Officer. Who is a bigwig. Who is bad man. 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. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. 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. Who excites. 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. She hopes to continue reporting after graduation. Who comes. With the IPO filing on June 1, however, the curtain has opened on Domos performance. Who is good. Keeping this cookie enabled helps us to improve our website. That placed Domo instantly in the community of unicorns, start-ups ostensibly worth $1 billion or more. Who hurts. 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. BlackRock James resigned his employment with the Company effective March 1, 2022.. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. This is based on 32.8 million weighted average sales outstanding basic and diluted. The startup from Silicon Slopes, Utah, is turning heads with James has been talking about this IPO since 2015. You can find out more about which cookies we are using or switch them off in settings. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. (Sydnee Gonzalez) 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. Domo CEO Josh James says his company's move Tuesday to a freemium model and new app ecosystem are the result of a big five-year reveal while announcing $130 million in new funding. 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. 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.. 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. Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. Whos number 2. WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. By clicking Sign up, you agree to receive marketing emails from Insider 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. Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. Josh James became CEO of the Company in 2010. There are several important variables within the Amazon EKS pricing model. 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. 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. 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. 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 ousted. 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. In fact, that confidence led him to drop out of BYU only a few classes shy of graduation. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. Who is under. 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 Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019.

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