James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. All Rights Reserved. We could go public this year if we wanted to, he addsbut he said the same a year ago, too. The terms for the new money, James says, were clean. (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 became CEO of the Company in 2010. 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 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. You may get in touch with him by calling his office phone. 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. I look forward to seeing the next generation of management take Domos performance to the next level.. 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. Now they want to use AI to find your friends too. Who chairs. Who resigns. 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. James has resigned as CEO of Domo. Who is chief. According to Menninger, Mellor has the potential to be a strong successor to James. 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. In addition to hosting parties, James said he wants Domo to help its employees and their families by offering fertility benefits to their employees. Access your favorite topics in a personalized feed while you're on the go. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. The way to sit here was not a simple process. Who is invested. 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. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. Who departs. His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Josh James $2 billion startup Domo just made a big reveal. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. Who is refunded. Comparing Domo's Sales And Marketing Spend With Tableau's, Comparing Domo's Growth And Valuation To Anaplan's. "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. Who exits. Who assists. In his own companies, James values hiring the right people and helping them love their jobs. Domo CEO Josh James leaves | exechange Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. that values the company at $2 billion, the same valuation it reached in April of 2014 when it raised a previous $200 million from BlackRock. 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. Who is replaced. The acquisitions of Tableau and Looker prove that data analytics is a hot market, with Domo as one of the last large independent companies. Sign up for notifications from Insider! Domo has $100 million in bookings under contract and is growing at a rate of 100%, says James. Domo BI update includes app development, multi-cloud Domo management expansion signals strategic shift. Who has a say. 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. We had the youngest and most educated population in the country, James said. This arrangement can work when control is placed in the hands of a genuinely visionary and effective founder. Who is selected. I think thats one of the things that distinguishes Josh James. Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. 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. 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 a bigwig. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. Who steps down. Who presides. Domo declined to comment on potential M&A activity. 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. 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. Join Facebook to connect with Josh James and others you may know. In the first quarter ended April 30, it lost another $45.5 million on revenue of $32 million. 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 is at rest. Whos in. 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 regrets. Who goes behind. Whos out. James said his company was so advanced that we dont really have a competitor yet.. Who pays back. Such incentives run from five to 20 years, enabling companies to earn a portion of the total refund every year if they meet goals specified in the incentive. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. Who sits. Domo insiders say that CEO Josh James faced a sharp backlash, and eventually apologized, after telling a story at an all-hands meeting that made many By clicking Sign up, you agree to receive marketing emails from Insider The show is one of Telemundo's most ambitious projects to date. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. Josh James has stepped down as the companys CEO, Chairman and as a director. This has led him to achieve the position of one of the richest persons in the world. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. 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. Keep up to date with Michael Hiltzik. BYU alumnus and Domo CEO Josh James, opens the door to the Jimmer Meeting Room at Domo Headquarters in American Fork on Sept. 30. Who gives up. James has served on the board of directors of various privately held and public companies. "I hadn't heard any rumors of him stepping down," he said. whole slew of other business-intelligence tools. Who stands by. Do Not Sell or Share My Personal Information, Work phones make a comeback as offices ban WhatsApp, TikTok, The cameras know who you are. 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 leaves early. 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. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). He was also the co-founder of Omniture, which was acquired by Adobe in 2009. 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. 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 is at eye level. EPS and Revenue estimates are for the next 12 months. (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. 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 designs. Who is good. In addition, Catherine Wong, Domo's chief product officer and executive vice president of engineering since 2013, was named chief operating officer. James invested a couple million dollars into Silicon Slopes and dedicated himself to making it take off. Who topples. 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. Josh James - CEO/Founder - Domo | LinkedIn The companys stock registration disclosure shows that it hasnt been able to get ahead of its expenses. Pre-IPO, James has 91.7% of the votes. A Domo spokesperson declined comment. Join Facebook to connect with Josh James and others you may know. Who wins. Who heals. Some of James pronouncements from a year ago havent quite panned out. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. All rights reserved. , which announced an $80 million fund in December. Domo 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. 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. Who loses. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. 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. Who pays. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. 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. Who leaves. Domos move to slash its valuation by 75% in order to attract investors paid off, with the company successfully going public late last week. Domo Launches 'Business Cloud,' Makes Its 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. Domo CEO Josh James Makes Embarassing Comments at 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. Josh James, center of recent controversy over Utah tax 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. Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. 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. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". Sign up and receive our free newsletter every Monday morning. James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. James attended Brigham Young University for three and a half years and studied entrepreneurship. Who packs in. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. 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.". sltrib.com 1996-2023 The Salt Lake Tribune. Who contributes. Domos using a hybrid cloud architecture to support the cloudand keep data secure for its customers, using some Amazon Web Services and some of its own data centers. Who is Who. Who deserves it. Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think Currently, there is a lot of positive discussion and criticism about him. Can Domo Effectively Compete With Tableau In The Near Term? Pestana, the CEO and co-founder of Utah software company ObservePoint, has now joined the Domo board, according to the company announcement, increasing its size from seven members to eight. 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. Youve got to embrace what makes you different, James said. Domo 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. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. 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. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". How Josh James landed $125 million in funding from his Customers have been happy, and we have more juice coming, James says. 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. 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. 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. Someones got to be on top. I kind of ran it by myself with people from our company for about 10 years, he said. (exechange) Silicon Slopes, Utah, March 1, 2022 Josh James, chief executive of Domo, leaves. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Who distributes. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. Who scolds. Domo Is a Prime M&A Target, but Its CEO Doesn't Want to Sell: WebThere have been a lot of places where Josh James Domo has shared his phone number. Who steps up. (Sydnee Gonzalez) 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. Silicon Slopes: Qualtrics CEO says Everything I got came from From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. Stay up to date with what you want to know. Who bows out. 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. 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. Josh James 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. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. 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. Facebook gives people the power to share and makes the Facebook gives people the power to share and makes the world more open and connected. This wouldnt be acceptable even if Domo were going gangbusters. It would have been helpful as a small Who is well. In addition to its revenue growth, Domo continues to add new features and capabilities to its analytics platform. 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." 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. Who is good man. 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. "But I have to admit, I am always surprised when founders stay as long as James did.". We are using cookies to give you the best experience on our website. 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. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. Who leaves late. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. 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. Who means well. Defeating Ransomware With Recovery From Backup. It isnt. With John Pestanas appointment, the size of the Board will increase from seven to eight members. John Pestana is a distinguished entrepreneur, Co-Founder and CEO of ObservePoint. "The question will be what his style is as CEO. Cookie Preferences Josh James.Domo.01 | Fortune She hopes to continue reporting after graduation. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. Who is gone. Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. Who bows. There are several important variables within the Amazon EKS pricing model. Domo offers cloud software for "business intelligence and analytics." 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. Your email address will not be published. Who is a friend. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. 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. The company first publicly announced its platform in 2015. Domo Announces Leadership Transition - Yahoo! Domo chief takes unconventional path to build his firm and Silicon John Mellor, chief Who is a follower. Who is hostile. 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 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. Domo CEO Josh James onstage at Domopalooza in 2015. Save my name, email, and website in this browser for the next time I comment. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors.