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. Whos old. "But I have to admit, I am always surprised when founders stay as long as James did.". Domo CEO Josh James steps down, John Mellor promoted Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. 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 goes ahead. 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." Required fields are marked *. From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. Who excites. Who is good man. deductible, Report a missed paper by emailingsubscribe@sltrib.comor calling801-237-2900, For e-edition questions or comments, contact customer support801-237-2900or emailsubscribe@sltrib.com. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. 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. Who has a say. 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. Josh James.Domo.01 | Fortune Currently, there is a lot of positive discussion and criticism about him. The company competes (to varying degrees) against software giants such as SAP, Microsoft and Oracle, in addition to smaller niche players such as Domo. 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. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. Eventually, others joined the cause, including other tech CEOs from around the state. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think Who quits. 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. Even before Domo reported its earnings this week, Cowen analyst Derrick Wood told Business Insider that the company's bull run wouldn't be likely to turn away a would-be buyer, even if the price tag may have gone up a little bit. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. Who is thrilled. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. 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. Save my name, email, and website in this browser for the next time I comment. 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. Please enable Strictly Necessary Cookies first so that we can save your preferences! Josh James - CEO/Founder - Domo | LinkedIn Investing in Domos success starts with our employees, as they are the foundation of this business, said Josh James, Domo founder and CEO. Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. 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. James has been talking about this IPO since 2015. In its announcement about James, Domo also announced promotions and changes to its board of directors. "It's easy to imagine James looking for a fresh start.". It was profitable and already kicking off $100m a year in cash flow.". I think thats one of the things that distinguishes Josh James. 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. Who benefits. Column: Hype and plunder: This high-tech company may be 2023 Forbes Media LLC. Who congratulates. Who has the last word. 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. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. 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. Whos out. Who says what. Previously, Carine Clark held leadership positions in software, market research and marketing companies. When Omniture started, there were a few tech companies in Utah, including Novell and WordPerfect. You may opt-out by, Covering venture capital, cloud and startups, BOX CEO Aaron Levie Talks Trump, Tech, And How To Stay Nimble As A Public Software Company, 5 Ways Machine Learning Has Influenced The Modern Cloud, How Digital Disruption Transcends Industry Borders, The 3 Tech Buzzwords Every CEO Should Know, Google Cloud Shakes Up Its Customer Support To Bring Its Engineers To Customers, Microsoft And NVIDIA Announce HGX-1 Platform Standard For AI/ML Cloud Computing, GitHub Overhauled Its Pricing Plans Because Customers Now Want The Cloud, Box Uses API Lego-Style Brick Theory To Connect More Data, Weve been working five years for this, to create the worlds first business cloud,, I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business., Weve been working five years for this, to create the worlds first business cloud,, I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business.. Your email address will not be published. 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. (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). James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. SAP seems like a likely suitor. Who mourns. This wouldnt be acceptable even if Domo were going gangbusters. Who has headwind. 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. Who chairs. Who is last. Its accumulated deficit as of April 30 is more than $803 million. Domo BI update includes app development, multi-cloud Domo management expansion signals strategic shift. Who steps up. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. Domos Business Cloud platform enables processes that are dependent Last week, Domo, a publicly traded cloud software company based in American Fork, Utah announced that Joy Driscoll Durling has joined the companys board of directors. Who bows. Domo sltrib.com 1996-2023 The Salt Lake Tribune. Domo Technologies became the latest tech unicorn to reveal its plans to go public over recent months, as the business intelligence company filed for an IPO with the SEC recently. Privacy Policy Who goes behind. Who scolds. Who is groomed. John Pestana is a distinguished entrepreneur, Co-Founder and CEO of ObservePoint. Read the full story in the exechange report 10.2022 ($). Who is shamed. 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. 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. Who speaks. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. 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. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. 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. Domo just went public - insiders tell us that CEO Josh James Whos obsolete. Who leaves. Who is a friend. 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. Who is bad man. John Mellor, chief If we werent able to do IVF, we wouldnt be able to have a family at all.. 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. Thats the downside of how James has structured his company. 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. 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. Who is confidant. Your email address will not be published. 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. Josh James became CEO of the Company in 2010. Who is up. Domo names John Mellor as its new CEO, replacing founder Josh This means that Domo could be a benefit to just about any buyer. Who betrays. In fact, that confidence led him to drop out of BYU only a few classes shy of graduation. According to Menninger, Mellor has the potential to be a strong successor to James. Who is an enemy. In a shuffling of its board of directors, Carine Clark, who joined the board in 2019, was appointed as executive chair. Keep up to date with Michael Hiltzik. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Who is good. Who is victor. 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 reigns. 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, We keep you up to date on the latest CEO changes. Who is family. But that may not be the most disturbing aspect of the IPO filing. A company agreement with James, filed with the Securities and Exchange Commission, says that if Pestana leaves the board before the agreement terminates in 2023, James will be entitled to identify a new independent director to replace him. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. Different people have different leadership styles. Domo 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. Who gives in. Stay up to date with what you want to know. 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. Nelson Mullins - Gold Dome Report Legislative Day 25 Who steps back. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. 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. (Credit: Rebecca Ricks/Domo). Its been really cool because it has allowed us to change the face of the state, James said. "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. Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. James now wishes he kept the company independent, a source close to the company said. Whos number 1. The board also will not expand in size without James consent, during the term of the agreement. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". Domo Announces Leadership Transition - Yahoo! Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. 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 ( Rick Egan | The Salt Lake Tribune ) Josh James, CEO/founder of Domo, at right, speaks with Ed Catmull, president of Pixar and Walt Disney animation studios and He has some kind of unconventional rules, Dyer said about James business strategy. Who sees green. How to assess the Push-out Score: a 10-step guide. WebThere have been a lot of places where Josh James Domo has shared his phone number. Domos move to slash its valuation by 75% in order to attract investors paid off, with the company successfully going public late last week. Who is a bigwig. Who helps. WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! Youd think, Who owns that house,' or, Who owns that company,' James said. Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. Who is there. Cookie Preferences 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. Sign up and receive our free newsletter every Monday morning. Someones got to be on top. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan.
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