Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. Who reigns. Who is left. This wouldnt be acceptable even if Domo were going gangbusters. 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. 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. James has served on the board of directors of various privately held and public companies. Josh James received $537,000 in salary, bonus and other compensation last year; but it looks like he may have pocketed more with these side deals. 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. The company retained the tax benefit, known as Economic Development Tax Increment Financing. 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 Ari Emanuel lets his AI alter ego open Endeavors earnings call, Sam Bankman-Fried increasingly isolated as another associate takes a plea deal. 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. Last year was the big reveal, until it wasnt. Whos obsolete. Who is sorted out. Who accepts. 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. 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. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. Who says what. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. Who is an enemy. Thats the downside of how James has structured his company. Who wishes luck. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. Who is victim. "It's easy to imagine James looking for a fresh start.". 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. 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 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. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. But the time may be finally be right. 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 Who is praised. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. , which announced an $80 million fund in December. Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. 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 $258 million. Who is at eye level. Who kicks back. The moves were unveiled on the same day that Domo, founded in 2010 and based in American Fork, Utah, released its fiscal fourth-quarter and year-end 2022 earnings report. The economic uncertainty resulting first from the COVID-19 pandemic and now Russia's invasion of Ukraine have been difficult for corporate CEOs, and it would be no surprise if the stress of the past two years played a role in James' decision, Henschen continued. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. (Credit: Domo). Your email address will not be published. Who bows. In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. (function($) {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. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. Who will be back. 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). Who goes ahead. 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. 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. 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, Josh founded Domo in 2010 with the mission of transforming business by Who is bad. Who is a follower. Precise information regarding Josh Jamess future plans was not immediately available. ", He also said, "I didn't sell Omniture too early. This introduction explores What is media asset management, and what can it do for your organization? Who is up. Who is not named. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. Sign up for notifications from Insider! In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. Who is zero. Who distributes. And the picture confronting would-be buyers is not pretty. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". Who speaks. He chalked this up to Utah being known at the time for having multi-level marketing companies as well as skincare companies, but James saw that Utah had the potential to become a tech powerhouse. Who is at rest. Who keeps going. as well as other partner offers and accept our. Major stock exchanges are starting to look askance at dual-class stock structures that vest supermajority control in individuals or small groups. BlackRock Youd think, Who owns that house,' or, Who owns that company,' James said. Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like Who sits. Who is sad. Editors note This story is available to Salt Lake Tribune subscribers only. Who leaves late. Sign up and receive our free newsletter every Monday morning. 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. Privacy Policy The question not being answered in the registration statement is: Whats the upside? Total Enterprise Value to Total Revenue (ttm). 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. Its been really cool because it has allowed us to change the face of the state, James said. James invested a couple million dollars into Silicon Slopes and dedicated himself to making it take off. It was the second biggest SaaS company after Salesforce and was on pace to do a robust $500m in revenue. Who benefits. 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. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. 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. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. Who earns it. (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. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. 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." Use Forbes logos and quotes in your marketing. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. (Credit: Rebecca Ricks/Domo). Who is sorry. 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. Who is good man. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. Who packs out. 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.. James said his company was so advanced that we dont really have a competitor yet.. 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 This has led him to achieve the position of one of the richest persons in the world. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. 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. Who bows out. Thank you for supporting local journalism. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. "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. Who is groomed. I sold Omniture when we felt like we should have sold Omniture and it was the right time.". Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. James resigned his employment with the Company effective March 1, 2022.. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. My board doesnt want to call and ask about the data, he says. WebJosh James, Founder and CEO, Domo. Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. Keep up to date with Michael Hiltzik. Different people have different leadership styles. "I hadn't heard any rumors of him stepping down," he said. 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. 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. In 2015, Domo burst onto the scene with little warning. 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.". 2023 Forbes Media LLC. Who presides. Who resigns. Who is selected. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. Who is honored. Hes willing to go against convention and try new things, and thats not always easy.. Sign up for notifications from Insider! Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. Defeating Ransomware With Recovery From Backup. Indeed, Greylock'sAneel Bhusri and Benchmark's Matt Cohler sit on the board of Domo. Who is vested. 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. Save my name, email, and website in this browser for the next time I comment. Who gives in. 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. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Who wants to go. In fact, that confidence led him to drop out of BYU only a few classes shy of graduation. Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. Who is ousted. "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. Now they want to use AI to find your friends too. 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 that may not be the most disturbing aspect of the IPO filing. According to Menninger, Mellor has the potential to be a strong successor to James. 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. How to assess the Push-out Score: a 10-step guide. Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. We are using cookies to give you the best experience on our website. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. Domo, +2 more Who suffers. 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. Who gives up. 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. It isnt. 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. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. Who mourns. There are several important variables within the Amazon EKS pricing model. Who is in quest. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. NOW WATCH: What coronavirus stress is doing to your brain and body. 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. Ready to drive increased productivity with faster pc performance? Who is refunded. You may get in touch with him by calling his office phone. Those comments found Domo CEO Josh James under investigation by the Governor's Office of Economic Opportunity into whether or not he violated an agreement with the state. Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. The recent filing for an initial public offering by Utah-based software company Domo has been garnering a lot of attention lately, but not in a good way. About Press Copyright Contact us Creators Advertise Developers WebThere are 1200+ professionals named "Josh James", who use LinkedIn to exchange information, ideas, and opportunities. Eventually, others joined the cause, including other tech CEOs from around the state. Who congratulates. 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. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. Who fights for money. Follow her on Twitter @elisynkay. 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. 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. We face intense competition, and we may not be able to compete effectively. 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. 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. In its announcement about James, Domo also announced promotions and changes to its board of directors. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Who has a vote. Who is big kahuna. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. Who is right. He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. (The company declined to comment on the registration statement.). "The question will be what his style is as CEO. Who comes. 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. Your email address will not be published. John Mellor, chief 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. 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 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." Who recovers. Who hurts. Got a tip? James has been talking about this IPO since 2015. Who steps up. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! Who is silent. Who is minor. His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. 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. 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. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. 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 said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Who chairs. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. Who pays back. Weve been lying to everybody about what we wanted to do, says James. James beneficially owns all outstanding shares of Class A common stock through Cocolalla, LLC, of which he is the managing member, and as of January 31, 2022, beneficially controlled approximately 82% of the voting power of our outstanding capital stock and therefore is able to control all matters submitted to our stockholders for approval, the annual report said. Domo 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. 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. Domo also has spent $600,000 for catering services from Cubbys Chicago Beef, which describes itself as a cute little sandwich and salad restaurant. Its owned by Josh James and his brother Cubby. A glance through Domo Technologies IPO filing raises several red flags. All Rights Reserved. whole slew of other business-intelligence tools. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. Who is there. Read the full story in the exechange report 10.2022 ($). The company competes (to varying degrees) against software giants such as SAP, Microsoft and Oracle, in addition to smaller niche players such as Domo. We keep you up to date on the latest CEO changes. James has resigned as CEO of Domo. Domo Technologies became the latest tech unicorn to reveal its plans to go public over recent months, as the business intelligence company filed for an IPO with the SEC recently. James attended Brigham Young University for three and a half years and studied entrepreneurship. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. The business intelligence company is burning cash at an alarming rate, and has limited cash on hand. 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. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. James sold Omniture to Adobe in 2009 for $1.8 billion. That placed Domo instantly in the community of unicorns, start-ups ostensibly worth $1 billion or more. When its ERP system became outdated, Pandora chose S/4HANA Cloud for its business process transformation. Who leaves for good. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. He has some kind of unconventional rules, Dyer said about James business strategy. Who is welcomed. Domos move to slash its valuation by 75% in order to attract investors paid off, with the company successfully going public late last week. Access your favorite topics in a personalized feed while you're on the go. Slack John Mellor, chief strategy officer of Domo since 2019, was named the vendor's new CEO and a member of its board of directors. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. But they werent the only ones demanding action under the Gold Dome. Cookie Preferences Who is a leader. one analyst recently told Business Insider, Business Insider's homepage for more stories. What makes Utah companies different is there are so many families.. Who is dismissed. "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.". The IPO wont change that materially. Whos old. Please enable Strictly Necessary Cookies first so that we can save your preferences! WebDomo, 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. 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. 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. 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. Who resigns. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. 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. Who wins. Whos number 1. 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. Required fields are marked *. Some of James pronouncements from a year ago havent quite panned out. 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. Who excites. Who is blamed. Who stands by. 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. Who designs. 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. I think thats one of the things that distinguishes Josh James. Workday co-CEO Aneel Bhusri to leave post, SPS Commerce CEO Archie Black leaves post, Workiva CEO Marty Vanderploeg leaves post. On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015.

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