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. 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. Stay up to date with what you want to know. Who is well. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Who is hostile. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. This arrangement can work when control is placed in the hands of a genuinely visionary and effective founder. Who sits. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. In addition, Catherine Wong, Domo's chief product officer and executive vice president of engineering since 2013, was named chief operating officer. This has led him to achieve the position of one of the richest persons in the world. Who is welcomed. Who is gone. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. Who is missed. 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. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. Who benefits. There are several important variables within the Amazon EKS pricing model. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. 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. 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. 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. Privacy Policy Who recovers. Now they want to use AI to find your friends too. The new system is Florida Crystals' consolidation of its SAP landscape to a managed services SaaS deployment on AWS has enabled the company to SAP Signavio Process Explorer is a next step in the evolution of process mining, delivering recommendations on transformation All Rights Reserved, 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. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. Comparing Domo's Sales And Marketing Spend With Tableau's, Comparing Domo's Growth And Valuation To Anaplan's. You can find out more about which cookies we are using or switch them off in settings. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. 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. Who is groomed. Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership Who packs out. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. What makes Utah companies different is there are so many families.. 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. Who wants to go. Who is major. 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. Whos in. 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. 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. Customers have been happy, and we have more juice coming, James says. Who is there. Who is minor. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. 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 How to assess the Push-out Score: a 10-step guide. It hit a $2 billion valuation by 2016, before many people had even heard of it. Who is big kahuna. , Salesforce, Tableau and the like), that allows customers to pull from any of the 1,000 apps to see whatever they want. Your email address will not be published. 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. WebThere have been a lot of places where Josh James Domo has shared his phone number. Who is good. 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. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. 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 helps. 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. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. Whos number 2. But they werent the only ones demanding action under the Gold Dome. I look forward to seeing the next generation of management take Domos performance to the next level.. James said his company was so advanced that we dont really have a competitor yet.. Who is bad. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Required fields are marked *. Got a tip? Who pays back. I think thats one of the things that distinguishes Josh James. "I am extremely optimistic about our future and the horsepower of the entire Domo team," he said in a release about the personnel moves. Who is successor. Who has to go. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Josh James became CEO of the Company in 2010. Thank you for supporting local journalism. Who goes behind. 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.. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. Who is hired. 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. 2023 Forbes Media LLC. Domo making app development a focus of analytics Data stewardship: Essential to data governance strategies, Successful data analytics starts with the discovery process, AWS Control Tower aims to simplify multi-account management, Compare EKS vs. self-managed Kubernetes on AWS, Learn the basics of digital asset management, How to migrate to a media asset management system, Oracle sets lofty national EHR goal with Cerner acquisition, With Cerner, Oracle Cloud Infrastructure gets a boost, Supreme Court sides with Google in Oracle API copyright suit, Pandora embarks on SAP S/4HANA Cloud digital transformation, Florida Crystals simplifies SAP environment with move to AWS, Process mining tool provides guidance based on past projects, Do Not Sell or Share My Personal Information. 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. 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. Who repeats. 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. Who designs. Who is bad man. Who does well. Domo has raised nearly $730 million in venture funding all told, and was valued at $2.28 billion in 2017, after its latest $115 million round in December 2017. Pre-IPO, James has 91.7% of the votes. Who signs. But James has been heavily disinclined to sell, two banking sources told Business Insider. Who is hero. Who distributes. Who fits. Who obeys. 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. Rising from $8 to $37 off the recent bottom, the price gained more than the broader S&P 500 index, which moved 48%. 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. 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. Who soothes. Who is Who. Sign up for notifications from Insider! The pitch for Domo was that it would fill in some of the gaps in enterprise data analysis that Omniture had left open, providing access to real-time marketing information that would help CEOs run their companies more efficiently. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and Who gives in. Facebook gives people the power to share and makes the world more open and connected. Josh founded Domo in 2010 with the mission of transforming business by The filing as a whole points to a persistent flaw in Silicon Valley financing: the willingness to give start-up founders unassailable control of their companies, to the point that investors have no recourse if things go blooey. Who is last. Who is shamed. 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. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. 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. as well as other partner offers and accept our. Who is victim. 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. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. Who stands by. 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. Who is selected. Domo, +2 more "The question will be what his style is as CEO. Who bows. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". "But I have to admit, I am always surprised when founders stay as long as James did.". Please enable Strictly Necessary Cookies first so that we can save your preferences! "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. Different people have different leadership styles. Some of James pronouncements from a year ago havent quite panned out. I'm certainly not opposed to selling the company. In a shuffling of its board of directors, Carine Clark, who joined the board in 2019, was appointed as executive chair. 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 accepts. How Much Can Domo Grow Its Revenues In The Coming Years? Who leaves. Last year was the big reveal, until it wasnt. Meanwhile, Domo frequently partners with SAP-owned Qualtrics, which is also headquartered in the Provo, Utah area. Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Domo offers cloud software for "business intelligence and analytics." A look at Domo's collaboration chat tools, Buzz. Who pays. Who fights for honor. 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. Now Utahs tech sector is booming. Who is fired. 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. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. Who is right. She hopes to continue reporting after graduation. Who is a leader. Who has a vote. However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. Members of the public flooded the State Capitol again on Tuesday. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". Contact Ashley Stewart via email atastewart@businessinsider.com, message her on Twitter @ashannstew, or send her a secure message through Signal at 425-344-8242. The 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. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. 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). To subscribe, click here. whole slew of other business-intelligence tools. Its accumulated deficit as of April 30 is more than $803 million. 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 praised. Domo CEO Josh James onstage at Domopalooza in 2015. This is based on 32.8 million weighted average sales outstanding basic and diluted. Another aspect of James management that should unnerve investors is his apparent predilection for using Domo as his personal piggy bank, with family members given drawdown rights. Who sees red. Who suffers. Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. Major stock exchanges are starting to look askance at dual-class stock structures that vest supermajority control in individuals or small groups. Who stumbles. (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). Who decides. 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 is victor. Ready to drive increased productivity with faster pc performance? var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); Josh James Domo is a famous person who is known worldwide for his work. "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. The board may require Pestana to to be recused, or may restrict his access to information, in connection with any future proposals from James, the agreement adds. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. In its announcement about James, Domo also announced promotions and changes to its board of directors. Who bows out. Who resigns. 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. 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 congratulates. Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Who topples. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. "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.". Who chairs. Cookie Preferences All rights reserved. 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. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. 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. 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. Domo offers cloud software for "business intelligence and analytics." Who is a friend. Who is honored. 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. 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. This means that Domo could be a benefit to just about any buyer. Youd think, Who owns that house,' or, Who owns that company,' James said. 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. The company held its "organizational meeting" last week, which is a first step as a company files the IPO paperwork, Recode'sTheodore Schleifer reported. Use Forbes logos and quotes in your marketing. Someones got to be on top. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. Editor in Chief Lisi Merkley is majoring in both journalism and Spanish. Who wins. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". 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. 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. 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 deserves it. Who steps back. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. 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. Access your favorite topics in a personalized feed while you're on the go. 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. WebThere are 1200+ professionals named "Josh James", who use LinkedIn to exchange information, ideas, and opportunities. 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.. 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 will be back. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015. ", He also said, "I didn't sell Omniture too early. Who comes. Who is confident. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Who packs in. John Mellor, chief Who is dismissed. Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. People called it an "insta-unicorn,"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.