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. The startup from Silicon Slopes, Utah, is turning heads with But the time may be finally be right. 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. Josh James has stepped down as the companys CEO, Chairman and as a director. Who has a vote. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. Who is at rest. 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. 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. No, I don't want to sell, but there's the reality of also having to face whatever is taking place with your ability to execute out there in the marketplace. James has served on the board of directors of various privately held and public companies. Theres a chat feature called Buzz that allows employees to communicate about each piece in threaded conversations and a task management piece to track who should be doing what. Who is a follower. Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. Who is a friend. Who packs in. Who signs. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. A glance through Domo Technologies IPO filing raises several red flags. Who assists. (Credit: Rebecca Ricks/Domo). The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. Josh James (@domojosh) Instagram photos and videos Someones got to be on top. This has led him to achieve the position of one of the richest persons in the world. Why not us?. 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. Domo Domo Who fits. Domo chief takes unconventional path to build his firm and Silicon Investing in Domos success starts with our employees, as they are the foundation of this business, said Josh James, Domo founder and CEO. Now they want to use AI to find your friends too. "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. 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. Who chairs. 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. Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Josh James, Founder and CEO, Domo - Josh James 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 minor. 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. Domo, a Utah-based data-analytics company currently valued on the public markets at just shy of $1 billion, is expected by many analysts to be the next big cloud acquisition target. 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. Customers have been happy, and we have more juice coming, James says. (Sydnee Gonzalez) Who lies. Josh James, center of recent controversy over Utah tax Who is missed. It hit a $2 billion valuation by 2016, before many people had even heard of it. Who is under. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. 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. 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. "I hadn't heard any rumors of him stepping down," he said. 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. Who is a leader. Who crumbles. Who wants to go. Domo offers cloud software for "business intelligence and analytics." Who presides. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". 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." 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. 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. Who is blamed. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. Who is good. This means that Domo could be a benefit to just about any buyer. James attended Brigham Young University for three and a half years and studied entrepreneurship. Who is invested. "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.". It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. 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. 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. 6:32 p.m.: This post has been updated with the companys declining to comment on its registration statement. Who prompts. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Who is sad. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. Who helps. By clicking Sign up, you agree to receive marketing emails from Insider It was the second biggest SaaS company after Salesforce and was on pace to do a robust $500m in revenue. 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. Sign up for notifications from Insider! You can find out more about which cookies we are using or switch them off in settings. 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. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. The acquisitions of Tableau and Looker prove that data analytics is a hot market, with Domo as one of the last large independent companies. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. Domo declined to comment on potential M&A activity. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. Who keeps going. This year, however, it will be Mellor who will be front and center as CEO. With John Pestanas appointment, the size of the Board will increase from seven to eight members. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. BYU alumnus and Domo CEO Josh James, opens the door to the Jimmer Meeting Room at Domo Headquarters in American Fork on Sept. 30. 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. WebThere have been a lot of places where Josh James Domo has shared his phone number. 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. Who leaves for good. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. The company first publicly announced its platform in 2015. Who goes behind. 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. Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. Major stock exchanges are starting to look askance at dual-class stock structures that vest supermajority control in individuals or small groups. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. Who is chief. Who obeys. 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. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. Who scolds. 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. Domo has $100 million in bookings under contract and is growing at a rate of 100%, says James. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. 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. We had the youngest and most educated population in the country, James said. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. Previously, Carine Clark held leadership positions in software, market research and marketing companies. Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. Investors should stay away from this IPO. Stay up to date with what you want to know. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. (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. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. EPS and Revenue estimates are for the next 12 months. He currently serves on the board of a newly organized special purpose acquisition company. 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. BlackRock, Greylock and Benchmark. When its ERP system became outdated, Pandora chose S/4HANA Cloud for its business process transformation. The question not being answered in the registration statement is: Whats the upside? Josh James - CEO/Founder - Domo | LinkedIn Josh James Domo Keep up to date with Michael Hiltzik. This introduction explores What is media asset management, and what can it do for your organization? 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. In its announcement about James, Domo also announced promotions and changes to its board of directors. The Who kicks back. 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. Youd think, Who owns that house,' or, Who owns that company,' James said. All values as of most recently reported quarter unless otherwise noted. Who is silent. 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 contributes. 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. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". 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. 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. Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership transition, effective immediately, that leverages the breadth and depth of the companys existing talent to promote continued growth.. Ready to drive increased productivity with faster pc performance? Who is in quest. Got a tip? 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. Who sees red. Domo offers cloud software for "business intelligence and analytics." 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. 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. We are using cookies to give you the best experience on our website. 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. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. Who is welcomed. 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. , which announced an $80 million fund in December. James might be at the top of Silicon Slopes now, but he hasnt forgotten how his time at BYU allowed him to see that students like him could start successful companies. 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. Domo also has bought $200,000 in furnishings from Alice Lane Home Collection, an interior design company partially owned by James, at which Drew James, another brother, is an executive. Editors note This story is available to Salt Lake Tribune subscribers only. Domo just went public - insiders tell us that CEO Josh James Who is a bigwig. Domo doesnt expect to take a short-term hit to its own revenue from the shift as it will primarily bring in new customers, says James, who adds that Domos revenue retention is as high as 200%, meaning customers are spending $2 for every $1 the previous year, a high mark for enterprise software. Hes also a sign of a crisis, ChatGPT who? Domo Launches 'Business Cloud,' Makes Its (exechange) Silicon Slopes, Utah, March 1, 2022 Josh James, chief executive of Domo, leaves. Cookie Preferences Josh James became CEO of the Company in 2010. This wouldnt be acceptable even if Domo were going gangbusters. He added: "Do I want to sell? Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. Domo, +2 more Members of the public flooded the State Capitol again on Tuesday. 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. Sign up and receive our free newsletter every Monday morning. Domo Who is vested. Currently, there is a lot of positive discussion and criticism about him. He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. Who is big kahuna. Who does well. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Who resigns. Who leaves early. Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. Asked during the company's Domopalooza conference in March whether it was time to considering selling the business to a larger vendor like SAP or Oracle or Microsoft, James said: "We always take inbounds when we come. 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.". Ari Emanuel lets his AI alter ego open Endeavors earnings call, Sam Bankman-Fried increasingly isolated as another associate takes a plea deal. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. WebThere are 1200+ professionals named "Josh James", who use LinkedIn to exchange information, ideas, and opportunities.