Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. When I went out to Silicon Valley to try and raise money for my company, we literally were getting one-sixth the valuation of our competitors who were doing the exact same thing and were the exact same size, James said. Facebook gives people the power to share and makes the I look forward to seeing the next generation of management take Domos performance to the next level.. You may get in touch with him by calling his office phone. Your email address will not be published. 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. Investors should stay away from this IPO. Who can say it? Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. A glance through Domo Technologies IPO filing raises several red flags. On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. Who fits. 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. James has been talking about this IPO since 2015. Cookie Preferences Who is welcomed. Who is under. Customers have been happy, and we have more juice coming, James says. Who is shamed. Who is successor. Currently, there is a lot of positive discussion and criticism about him. 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. Who sees red. He also previously co-founded and served as CEO of Omniture, a web analytics company. Who will be back. Who designs. (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. Mellor 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, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. This has led him to achieve the position of one of the richest persons in the world. Who has the last word. Who is groomed. We face intense competition, and we may not be able to compete effectively. 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. 6:32 p.m.: This post has been updated with the companys declining to comment on its registration statement. Who departs. Who lies. "But I have to admit, I am always surprised when founders stay as long as James did.". From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like Who is not named. His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. 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. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. Who betrays. Someones got to be on top. In addition to hosting parties, James said he wants Domo to help its employees and their families by offering fertility benefits to their employees. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? Editor in Chief Lisi Merkley is majoring in both journalism and Spanish. Who speaks. 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. Data is no longer a currency only to be banked, but is the fuel that drives the business, it said in its recently filed annual report. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. 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.. That placed Domo instantly in the community of unicorns, start-ups ostensibly worth $1 billion or more. 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. John Mellor, chief With two legislative days remaining until Who is a friend. Who is hostile. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. Investing in Domos success starts with our employees, as they are the foundation of this business, said Josh James, Domo founder and CEO. Who goes ahead. We keep you up to date on the latest CEO changes. Who crumbles. Who is minor. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. Domo has $100 million in bookings under contract and is growing at a rate of 100%, says James. However, in 2016, Domo insiders told Business Insider that some of the company's offerings were still somewhat immature at that point, and that the company tended toward hype, as many startups often do. Who is dismissed. Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. Who is up. WebOne 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. Who is bad. He has some kind of unconventional rules, Dyer said about James business strategy. Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. Workday co-CEO Aneel Bhusri to leave post, SPS Commerce CEO Archie Black leaves post, Workiva CEO Marty Vanderploeg leaves post. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. Thank you for supporting local journalism. (Credit: Rebecca Ricks/Domo). I think thats one of the things that distinguishes Josh James. James sold Omniture to Adobe in 2009 for $1.8 billion. Josh founded Domo in 2010 to transform the way CEOs and other executives manage their business and to help drive value from the tens Now they want to use AI to find your friends too. A Domo spokesperson declined comment. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. Rising from $8 to $37 off the recent bottom, the price gained more than the broader S&P 500 index, which moved 48%. Who is a leader. 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. (Sydnee Gonzalez) In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. Who decides. Who packs in. Save my name, email, and website in this browser for the next time I comment. Who benefits. Youd think, Who owns that house,' or, Who owns that company,' James said. Who repeats. During his time as a BYU student, Josh James would sit with his friends on a bench not far from Y Mountain and look down at the businesses and new homes in the valley below. Join Facebook to connect with Josh James and others you may know. EPS and Revenue estimates are for the next 12 months. Weve been working five years for this, to create the worlds first business cloud, says James, who founded Domo in 2010. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. The acquisitions of Tableau and Looker prove that data analytics is a hot market, with Domo as one of the last large independent companies. Whos old. Who is there. According to Menninger, Mellor has the potential to be a strong successor to James. 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. 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. How to assess the Push-out Score: a 10-step guide. Who is well. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax 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 serves. Who is thrilled. His concentration, dedication, and hard work have assisted him to get this position. He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. 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. The terms for the new money, James says, were clean. Who is sad. When its ERP system became outdated, Pandora chose S/4HANA Cloud for its business process transformation. The way to sit here was not a simple process. Domo declined to comment on potential M&A activity. Domo CEO Josh James onstage at Domopalooza in 2015. Its been really cool because it has allowed us to change the face of the state, James said. She hopes to continue reporting after graduation. 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 steps down. James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. 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. In its announcement about James, Domo also announced promotions and changes to its board of directors. Who is familiar. He currently serves on the board of a newly organized special purpose acquisition company. Likewise, Henschen said Domo is in good hands with its new CEO and COO. Who contributes. Clearly, Josh James was a big personality. As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. Who is confidant. (The company declined to comment on the registration statement.). Who is first. My board doesnt want to call and ask about the data, he says. Theres a chat feature called Buzz that allows employees to communicate about each piece in threaded conversations and a task management piece to track who should be doing what. 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. 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. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. Who is last. 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. Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. Who is bad man. 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. A look at Domo's collaboration chat tools, Buzz. In 2015, Domo burst onto the scene with little warning. "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. Total Enterprise Value to Total Revenue (ttm). He added: "Do I want to sell? (Domo actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). whole slew of other business-intelligence tools. "It's easy to imagine James looking for a fresh start.". Got a tip? Who steps up. Who wishes luck. 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. 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. 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 is hired. Who stands by. You can find out more about which cookies we are using or switch them off in settings. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. 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. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. Who fights for money. Whos number 2. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. "He's intelligent and knowledgeable about the market and has helped lead the company to this point in its growth," Menninger said. 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. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for 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. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. Who has tailwind. "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 a big wheel. It hit a $2 billion valuation by 2016, before many people had even heard of it. Who is silent. 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. Josh James became CEO of the Company in 2010. I'm certainly not opposed to selling the company. 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). 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 is in quest. 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 invested a couple million dollars into Silicon Slopes and dedicated himself to making it take off. You also can contact with him through Facebook, twitter and email. What makes Utah companies different is there are so many families.. James attended Brigham Young University for three and a half years and studied entrepreneurship. 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 company news release. Replacing James as CEO and joining the American Fork companys board of directors is John Mellor, 55, Domos chief strategy officer since 2019.

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