WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! 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 Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. 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. He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. Who steps up. Someones got to be on top. Who speaks. Its been really cool because it has allowed us to change the face of the state, James said. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. 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. 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. 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. Keeping this cookie enabled helps us to improve our website. The company first publicly announced its platform in 2015. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax 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. A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. Slack 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. Domo, +2 more If the kids are like, My mom works at the coolest place in the world, or, My dad works at an awesome place, then mom or dad has got a lot of pride in where they are and where they work, and theyre going to stay here, he said. 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. Who is gone. Who is humbled. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. (Sydnee Gonzalez) Who keeps going. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. 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 under. 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. Josh James $2 billion startup Domo just made a big reveal. But that may not be the most disturbing aspect of the IPO filing. 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. Different people have different leadership styles. But they werent the only ones demanding action under the Gold Dome. Who is zero. 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 has the last word. Who is at C-level. Regardless of Domo's newly-solid footing, however, it's long been eyed as a potential takeover target. The terms for the new money, James says, were clean. I'm certainly not opposed to selling the company. "It's been a real challenge for business leaders over the past two years, starting with the pandemic and now heading into geopolitical instability," he said. He also previously co-founded and served as CEO of Omniture, a web analytics company. Weve been lying to everybody about what we wanted to do, says James. 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. With two legislative days remaining until BlackRock He would apparently prefer that Domo builds a tech empire of its very own: He's always "wanted to prove he's not just a founder, but a CEO," said a source who works for a Domo competitor. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. Who sees green. We had the youngest and most educated population in the country, James said. Josh founded Domo in 2010 to transform the way CEOs and other executives manage their business and to help drive value from the tens Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. It hit a $2 billion valuation by 2016, before many people had even heard of it. Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. Use Forbes logos and quotes in your marketing. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. Who decides. 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. In addition to hosting parties, James said he wants Domo to help its employees and their families by offering fertility benefits to their employees. Cookie Preferences From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. WebThere have been a lot of places where Josh James Domo has shared his phone number. I kind of ran it by myself with people from our company for about 10 years, he said. 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. 6:32 p.m.: This post has been updated with the companys declining to comment on its registration statement. But Domo seems to have rebounded, with the company reportingbetter-than-expected first-quarter results on Thursday. Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. But sources tell Business Insider the company's CEO Josh James, who has majority voting power, is reluctant to sell despite encouragement from bankers. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. This introduction explores What is media asset management, and what can it do for your organization? 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. 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. 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. Youd think, Who owns that house,' or, Who owns that company,' James said. Who is groomed. Pre-IPO, James has 91.7% of the votes. But the time may be finally be right. Editors note This story is available to Salt Lake Tribune subscribers only. Sign up for notifications from Insider! 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. Who is a leader. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. Privacy Policy James has served on the board of directors of various privately held and public companies. Who sits. Who is shamed. I look forward to seeing the next generation of management take Domos performance to the next level.. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Who resigns. In pink tops and white pants, women celebrate free period products becoming available in Utahs state buildings, Proposal to boost Utah bar licenses gets smaller with another round of cuts by lawmakers, Moab, Park City cry foul as Utah lawmakers target rules for vacation homes. 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 $2 billion. This year, however, it will be Mellor who will be front and center as CEO. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. "The question will be what his style is as CEO. Read the full story in the exechange report 10.2022 ($). With John Pestanas appointment, the size of the Board will increase from seven to eight members. James attended Brigham Young University for three and a half years and studied entrepreneurship. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. 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 arrangement can work when control is placed in the hands of a genuinely visionary and effective founder. (Credit: Rebecca Ricks/Domo). Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. Can religion save us from Artificial Intelligence? From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. Who assists. 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 bows out. 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. 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. 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. James has been talking about this IPO since 2015. Who presides. Who gives up. How to assess the Push-out Score: a 10-step guide. Who can say 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. 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. Rising from $8 to $37 off the recent bottom, the price gained more than the broader S&P 500 index, which moved 48%. Hes also a sign of a crisis, ChatGPT who? Who is a bigwig. Eventually, others joined the cause, including other tech CEOs from around the state. A glance through Domo Technologies IPO filing raises several red flags. 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. Who is at rest. Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. Can Domo Effectively Compete With Tableau In The Near Term? "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. 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. Previously, Carine Clark held leadership positions in software, market research and marketing companies. Thank you for supporting local journalism. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. 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. Who has tailwind. 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. 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. The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. (The menu does look delicious, but there must be caterers in American Fork, Utah, that arent owned by the boss, remarked Shira Ovide of Bloomberg). Who is honored. Who is hostile. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. 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 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. Who is victim. "I am extremely optimistic about our future and the horsepower of the entire Domo team," he said in a release about the personnel moves. WebDomo insiders say that CEO Josh James faced a sharp backlash, and eventually apologized, after telling a story at an all-hands meeting that made some employees feel In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. Who is a big wheel. Who contributes. 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 actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). James invested a couple million dollars into Silicon Slopes and dedicated himself to making it take off. Facebook gives people the power to share and makes the Our net loss was $13.6 million, up from $9.8 million a year ago and our net loss per share was $0.41. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. I sold Omniture when we felt like we should have sold Omniture and it was the right time.". Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. Who bows. Who is replaced. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. 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. Now Utahs tech sector is booming. Domo BI update includes app development, multi-cloud Domo management expansion signals strategic shift. Major stock exchanges are starting to look askance at dual-class stock structures that vest supermajority control in individuals or small groups. ( 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 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. Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. You may get in touch with him by calling his office phone. 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 Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. To accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. 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 is invested. Stay up to date with what you want to know. Who prompts. All values as of most recently reported quarter unless otherwise noted. The (exechange) Silicon Slopes, Utah, March 1, 2022 Josh James, chief executive of Domo, leaves. John Mellor, chief By clicking Sign up, you agree to receive marketing emails from Insider The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. Says James: Haters gonna hate., This is a BETA experience. Your email address will not be published. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. 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. "But I have to admit, I am always surprised when founders stay as long as James did.". Who packs in. Josh founded Domo in 2010 with the mission of transforming business by one analyst recently told Business Insider, Business Insider's homepage for more stories. 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. 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. His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. We face intense competition, and we may not be able to compete effectively. Who is chief. 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. Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. And the picture confronting would-be buyers is not pretty. My board doesnt want to call and ask about the data, he says. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? 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. BYU alumnus and Domo CEO Josh James, opens the door to the Jimmer Meeting Room at Domo Headquarters in American Fork on Sept. 30. Defeating Ransomware With Recovery From Backup. Who is blamed. Who is bad. Who is thrilled. Who is successor. 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. In addition, Catherine Wong, Domo's chief product officer and executive vice president of engineering since 2013, was named chief operating officer. James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. 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. Facebook gives people the power to share and makes the world more open and connected. 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. sltrib.com 1996-2023 The Salt Lake Tribune. Who has a say. Who is welcomed. Who is bad man. Josh James has stepped down as the companys CEO, Chairman and as a director. This is based on 32.8 million weighted average sales outstanding basic and diluted. 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. 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. 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. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. 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.. Who quits. His concentration, dedication, and hard work have assisted him to get this position. Who lies. Who goes ahead. Who scolds. Ready to drive increased productivity with faster pc performance? Who is first. NOW WATCH: What coronavirus stress is doing to your brain and body. 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. 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. 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. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Who is sorry. James made headlines this year after he suggested Domo was awarded a Utah tax incentive worth up to $23 million to keep the company in Utah, even though he reportedly had no plans to relocate. He was resistant to making that deal at first: A securities filing from the Omniture acquisition shows James first declined Adobe CEO Shantanu Narayen's advances, saying he preferred to discuss "partnership opportunities." Domo Technologies is no longer on the coveted list of unicorns, with the business intelligence company recently filing to go public at a valuation of roughly half a billion dollars. (function($) {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. EPS and Revenue estimates are for the next 12 months. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. What makes Utah companies different is there are so many families.. Who is a follower. 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 reigns. 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. Who stands by. However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. Who is selected. Who wins. 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. 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? Who wants to go. 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. Sign up for notifications from Insider! Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. Now they want to use AI to find your friends too. 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. 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. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. Because of Domos fertility benefits, Stephan was able to successfully complete a round of in vitro fertilization and is currently in the second trimester of her pregnancy. 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 tumbles. James sold Omniture to Adobe in 2009 for $1.8 billion. We are using cookies to give you the best experience on our website. SAP seems like a likely suitor. 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.
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