James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. 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. The way to sit here was not a simple process. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. The IPO wont change that materially. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. Anthony Pompliano Net Worth Phone Number, House Address, Wiki, Ashley Massengill Net Worth | Bio, Family, Address, Career, Atlas Monroe Net Worth | Age, Height, Weight, Dating And More, Beyonce S Net Worth Phone Number, House Address, Wiki, Blue Ivy Net Worth Phone Number, House Address, Wiki. Our net loss was $13.6 million, up from $9.8 million a year ago and our net loss per share was $0.41. He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. 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. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. 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. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! 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 Who is successful. Stay up to date with what you want to know. Who is ousted. Who is doomed. 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. (Sydnee Gonzalez) According to Menninger, Mellor has the potential to be a strong successor to James. Donate to the newsroom now. James said his company was so advanced that we dont really have a competitor yet.. Domo names John Mellor as its new CEO, replacing founder Josh Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. How to assess the Push-out Score: a 10-step guide. Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. Who chairs. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Who hurts. Who has a say. Thank you for supporting local journalism. Copyright 2010 - 2023, TechTarget As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. Meet Datanami 2021 Person to Watch Josh James 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. The show is one of Telemundo's most ambitious projects to date. 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. On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. Who has tailwind. 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 recovers. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. Pre-IPO, James has 91.7% of the votes. Ready to drive increased productivity with faster pc performance? Stay up to date with what you want to know. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. Who suffers. Who is at C-level. Who leaves early. 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. Who goes behind. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax 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. Cookie Preferences Someones got to be on top. Domos new fund to invest in partners follows a playbook established by other would-be business ecosystem leaders like Customers have been happy, and we have more juice coming, James says. Who heals. The company competes (to varying degrees) against software giants such as SAP, Microsoft and Oracle, in addition to smaller niche players such as Domo. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. With the IPO filing on June 1, however, the curtain has opened on Domos performance. 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. 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. 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. Whos in. Who is missed. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. Access your favorite topics in a personalized feed while you're on the go. Josh James is on Facebook. Who steps down. Who accepts. About Press Copyright Contact us Creators Advertise Developers NOW WATCH: What coronavirus stress is doing to your brain and body. Again. Who is groomed. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. Who is a bigwig. 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. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Can religion save us from Artificial Intelligence? Who is blamed. 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. Who deserves it. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. Silicon Slopes: Qualtrics CEO says Everything I got came from Josh James (@domojosh) Instagram photos and videos This has led him to achieve the position of one of the richest persons in the world. Domo employee Domonique Stephan said she realized she would need to take advantage of the benefit, which helps employees pay for in vitro fertilization or other fertility services, a few months after she was hired. 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. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. Who is bad man. 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. 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. Some of James pronouncements from a year ago havent quite panned out. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". Who betrays. Now Utahs tech sector is booming. I look forward to seeing the next generation of management take Domos performance to the next level.. Who is praised. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. WebThere have been a lot of places where Josh James Domo has shared his phone number. The $200 million run rate he predicted in 2015? He has some kind of unconventional rules, Dyer said about James business strategy. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. (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). Column: Hype and plunder: This high-tech company may be 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 said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Hes also a sign of a crisis, ChatGPT who? Mellor Whos obsolete. But James has been heavily disinclined to sell, two banking sources told Business Insider. 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. Domo CEO Josh James says his company's move Tuesday to a freemium model and new app ecosystem are the result of a big five-year reveal while announcing $130 million in new funding. BlackRock Can Domo Effectively Compete With Tableau In The Near Term? The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. SAP seems like a likely suitor. 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. Domo CEO Josh James Makes Embarassing Comments at In the agreement related to his departure as CEO, James agreed to vote in favor of the election of boards nominees for director and against the removal of any board member at Domos 2022 annual meeting. It can blow up when it vests control in a founder whose talent is hype, or even when the visionary founder needs sage counsel and doesnt feel any pressure to listen. Who is shamed. 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. This means that Domo could be a benefit to just about any buyer. Who excites. "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 sees green. 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. All rights reserved. Who soothes. Likewise, Henschen said Domo is in good hands with its new CEO and COO. Who does well. Domo CEO Josh James steps down, John Mellor promoted Who fits. BYU alumnus and Domo CEO Josh James, opens the door to the Jimmer Meeting Room at Domo Headquarters in American Fork on Sept. 30. You also can contact with him through Facebook, twitter and email. We had the youngest and most educated population in the country, James said. Weve been lying to everybody about what we wanted to do, says James. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Who bows out. The two bankers, who have worked with Domo in the past, told Business Insider that James has indicated he wanted Domo to stay independent. Domo Who is up. Total revenue increased 23%, from just under $57 million during the fourth quarter ended Jan. 31, 2021, to nearly $70 million during the most recent quarter. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. Josh James.Domo.01 | Fortune WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. Who departs. James attended Brigham Young University for three and a half years and studied entrepreneurship. Hes willing to go against convention and try new things, and thats not always easy.. 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. Required fields are marked *. However, like many companies in their early years, Domo has yet to turn a profit and reported a net loss of $33.2 million during the fourth quarter and $102.1 million for fiscal 2022. Who is chief. Who is good man. Who is thrilled. Who reigns. Josh James - CEO/Founder - Domo | LinkedIn 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. Who mourns. 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. 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 dismissed. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. It had been in stealth mode until then, its founder and chief executive, Josh James, explained, building up its customer base and refining its products in secret. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. "I hadn't heard any rumors of him stepping down," he said. 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 software company is considered one of Utahs few unicorns privately held startups valued at $1 billion or more though its finances raised questions when it went public in 2018. The company first publicly announced its platform in 2015. 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.".