Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019. whole slew of other business-intelligence tools. Got a tip? It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. Now Utahs tech sector is booming. Whos out. as well as other partner offers and accept our. Who is welcomed. 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 Sign up for notifications from Insider! 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. Who can say it? Who bows. Last year was the big reveal, until it wasnt. Who stands by. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. Who is invested. Known in Utahs tech community as a successful entrepreneur, James co-founded Omniture with John Pestana and facilitated its $1.8 billion acquisition by Adobe before starting Domo. He would apparently prefer that Domo builds a tech empire of its very own: He's always "wanted to prove he's not just a founder, but a CEO," said a source who works for a Domo competitor. Youve got to embrace what makes you different, James said. Who is right. Who is big kahuna. Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. Read the full story in the exechange report 10.2022 ($). Join Facebook to connect with Josh James and others you may know. 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. Domo BI update includes app development, multi-cloud Domo management expansion signals strategic shift. Who assists. Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. I sold Omniture when we felt like we should have sold Omniture and it was the right time.". Who is shamed. Who is at rest. 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. 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. With the IPO filing on June 1, however, the curtain has opened on Domos performance. Who is successful. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. Who stumbles. James has served on the board of directors of various privately held and public companies. James sold Omniture to Adobe in 2009 for $1.8 billion. Currently, there is a lot of positive discussion and criticism about him. Who steps down. Who is not named. Keep up to date with Michael Hiltzik. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. Domo said: Domo, Inc. (Nasdaq: DOMO) today announced a leadership Josh James, center of recent controversy over Utah tax Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. 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. Who excites. Who resigns. Cookie Preferences Domo Is a Prime M&A Target, but Its CEO Doesn't Want to Sell: Who is bad. To accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. (Credit: Rebecca Ricks/Domo). Who comes. She hopes to continue reporting after graduation. Who resigns. Domo Launches 'Business Cloud,' Makes Its "I am extremely optimistic about our future and the horsepower of the entire Domo team," he said in a release about the personnel moves. Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. Some of James pronouncements from a year ago havent quite panned out. Josh James All Rights Reserved. This is based on 32.8 million weighted average sales outstanding basic and diluted. In his own companies, James values hiring the right people and helping them love their jobs. Who fits. 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. That placed Domo instantly in the community of unicorns, start-ups ostensibly worth $1 billion or more. By clicking Sign up, you agree to receive marketing emails from Insider Who is an enemy. 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. 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. (Sydnee Gonzalez) Domo, +2 more Facebook gives people the power to share and makes the world more open and connected. 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. Who leaves early. A Domo spokesperson declined comment. Who distributes. 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. This wouldnt be acceptable even if Domo were going gangbusters. 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. Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. If we werent able to do IVF, we wouldnt be able to have a family at all.. Who is gone. 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. Can religion save us from Artificial Intelligence? Can Domo Effectively Compete With Tableau In The Near Term? "But I have to admit, I am always surprised when founders stay as long as James did.". Who is vested. It isnt. Who is silent. Clearly, Josh James was a big personality. Who is first. Who is a friend. Josh James is on Facebook. 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. Utah wraps up investigation into Domo 2023 Forbes Media LLC. Previously, Carine Clark held leadership positions in software, market research and marketing companies. The Domo In 2015, Domo burst onto the scene with little warning. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. To be fair, investors had reason to believe in James at the start. Domo has $100 million in bookings under contract and is growing at a rate of 100%, says James. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. "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. Its been really cool because it has allowed us to change the face of the state, James said. Domo, James current company, takes the data that his previous company, Omniture, was able to provide their clients and puts it in easily accessible formats. Who heals. 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. Column: Hype and plunder: This high-tech company may be Domos move to slash its valuation by 75% in order to attract investors paid off, with the company successfully going public late last week. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? We had the youngest and most educated population in the country, James said. (The menu does look delicious, but there must be caterers in American Fork, Utah, that arent owned by the boss, remarked Shira Ovide of Bloomberg). Who is replaced. 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. A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. Josh James (@domojosh) Instagram photos and videos In October 2018, BYU strategy professor Jeff Dyer invited James to speak at the BYU Strategy Professionals Conference because Dyer said James knows how to start companies, how to get attention to those companies and how to recruit. All rights reserved. Hes also a sign of a crisis, ChatGPT who? Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. 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. "I hadn't heard any rumors of him stepping down," he said. Who loses. With John Pestanas appointment, the size of the Board will increase from seven to eight members. Hes willing to go against convention and try new things, and thats not always easy.. He also previously co-founded and served as CEO of Omniture, a web analytics company. 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. 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. Box Who decides. Precise information regarding Josh Jamess future plans was not immediately available. 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. 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. WebThere have been a lot of places where Josh James Domo has shared his phone number. How Josh James landed $125 million in funding from his 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. Who congratulates. Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. 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. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. A look at Domo's collaboration chat tools, Buzz. The way to sit here was not a simple process. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Eventually, others joined the cause, including other tech CEOs from around the state. The acquisitions of Tableau and Looker prove that data analytics is a hot market, with Domo as one of the last large independent companies. Who lies. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax 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. 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. The company retained the tax benefit, known as Economic Development Tax Increment Financing. Who is family. And the picture confronting would-be buyers is not pretty. Who speaks. I used to waste three days prepping for a board meeting. Now, he says, board members can just check their phones at the end of a quarter or sales push and hit refresh. Domo Announces Leadership Transition - Yahoo! Who is sorry. Again. Nelson Mullins - Gold Dome Report Legislative Day 25 Editors note This story is available to Salt Lake Tribune subscribers only. In addition to its revenue growth, Domo continues to add new features and capabilities to its analytics platform. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. 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. 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. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Facebook gives people the power to share and makes the Weve been lying to everybody about what we wanted to do, says James. Who has tailwind. Who is doomed. Who reigns. 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. In the first quarter ended April 30, it lost another $45.5 million on revenue of $32 million. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. 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."