Eventually, others joined the cause, including other tech CEOs from around the state. James now wishes he kept the company independent, a source close to the company said. Who fits. Pre-IPO, James has 91.7% of the votes. Who steps down. Who packs out. Who bows. 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 a friend. Who is invested. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. Who is chief. Who is hero. Who is up. With two legislative days remaining until 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. Required fields are marked *. Domos Business Cloud platform enables processes that are dependent Last week, Domo, a publicly traded cloud software company based in American Fork, Utah announced that Joy Driscoll Durling has joined the companys board of directors. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. 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. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). Please enable Strictly Necessary Cookies first so that we can save your preferences! Who is bad. Who packs in. Last year was the big reveal, until it wasnt. This website uses cookies so that we can provide you with the best user experience possible. EPS and Revenue estimates are for the next 12 months. 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. I'm certainly not opposed to selling the company. Who is vested. To subscribe, click here. 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. Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. Who is groomed. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. Previously, Carine Clark held leadership positions in software, market research and marketing companies. 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. Who is successor. It shows a company that is deeply in the red and burning through cash so fast that if it cant stage its IPO by August or borrow millions, it will have to shrink drastically conceivably, reading between the lines, to nothing. Who is under. Stay up to date with what you want to know. It hit a $2 billion valuation by 2016, before many people had even heard of it. Who serves. "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. I sold Omniture when we felt like we should have sold Omniture and it was the right time.". 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. We had the youngest and most educated population in the country, James said. 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 kicks back. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. It would have been helpful as a small The business intelligence company is burning cash at an alarming rate, and has limited cash on hand. 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. Who is victim. ", He also said, "I didn't sell Omniture too early. Whos out. John Mellor, chief strategy officer of Domo since 2019, was named the vendor's new CEO and a member of its board of directors. Who tumbles. 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. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. BlackRock 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. Who is successful. 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 goes behind. Who goes through hell. The company first publicly announced its platform in 2015. Our net loss was $13.6 million, up from $9.8 million a year ago and our net loss per share was $0.41. Who is there. Who is praised. 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 hurts. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. Donate to the newsroom now. When that didnt work, he changed tactics. James attended Brigham Young University for three and a half years and studied entrepreneurship. In James set-up, he showed off the different metrics needed for board meetings with his investors (but not too closely for FORBES to see all the data). 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. From trying to get computer science classes in every school to improving air quality, James and the Silicon Slopes team is invested in making Utah a great place for people to work. Save my name, email, and website in this browser for the next time I comment. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. The startup from Silicon Slopes, Utah, is turning heads with Who fights for money. Can Domo Effectively Compete With Tableau In The Near Term? Thank you for supporting local journalism. 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 doomed. 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. We are using cookies to give you the best experience on our website. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. 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. Who quits. Who fights for honor. 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. 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. From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. Editors note This story is available to Salt Lake Tribune subscribers only. 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 is a leader. Who leaves. Who leaves early. As for James crowing about the lack of competition, you can treat that statement as inoperative. Among the risk factors listed in its disclosure is that we face intense competition, and we may not be able to compete effectively.. "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.". You can find out more about which cookies we are using or switch them off in settings. But Domo seems to have rebounded, with the company reportingbetter-than-expected first-quarter results on Thursday. 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. Your email address will not be published. Cookie Preferences Who has to go. Regardless of Domo's newly-solid footing, however, it's long been eyed as a potential takeover target. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Who commands. 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 is a bigwig. Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. In disclosing risks, the annual report also notes that the way Domos common stock is structured in two classes concentrates voting control with James. 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. Josh James $2 billion startup Domo just made a big reveal. 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. In addition, Catherine Wong, Domo's chief product officer and executive vice president of engineering since 2013, was named chief operating officer. When its ERP system became outdated, Pandora chose S/4HANA Cloud for its business process transformation. Who exits. 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. 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. Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. Who is victor. We face intense competition, and we may not be able to compete effectively. Who is not named. Who wants to go. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. Who is minor. But the time may be finally be right. Who excites. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. 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. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. Who chairs. 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." 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 offers cloud software for "business intelligence and analytics." I look forward to seeing the next generation of management take Domos performance to the next level.. However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. Hes also a sign of a crisis, ChatGPT who? Join Facebook to connect with Josh James and others you may know. Josh founded Domo in 2010 to transform the way CEOs and other executives manage their business and to help drive value from the tens It was the second biggest SaaS company after Salesforce and was on pace to do a robust $500m in revenue. Who is silent. Who means well. 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. 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. 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. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. Says James: Haters gonna hate., This is a BETA experience. "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. That placed Domo instantly in the community of unicorns, start-ups ostensibly worth $1 billion or more. 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. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. 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. 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. 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. Domo has $100 million in bookings under contract and is growing at a rate of 100%, says James. 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. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015.