All Rights Reserved. Domo Launches 'Business Cloud,' Makes Its Josh James, Founder and CEO, Domo - Josh James Who has a say. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. Who is zero. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. James invested a couple million dollars into Silicon Slopes and dedicated himself to making it take off. James says the skepticism of potential public investors and those who might doubt Domos high valuation or size is misplaced. Domo said: Josh James has stepped down as the companys CEO, Chairman and as a director., Domo further said: Mr. whole slew of other business-intelligence tools. Who is bad. Likewise, Henschen said Domo is in good hands with its new CEO and COO. sltrib.com 1996-2023 The Salt Lake Tribune. Who is up. Different people have different leadership styles. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. He also previously co-founded and served as CEO of Omniture, a web analytics company. While that money can support smaller emerging companies popular with Domos cloudusers, such a fund might also raise eyebrows as a sign of the company lacking focus for its time and money. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. Now they want to use AI to find your friends too. I think thats one of the things that distinguishes Josh 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. 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 From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. Industry analyst Ray Wang of Constellation Research identified SAP and Google as potential acquirers, while other names that have come up include Amazon Web Services and Salesforce. Josh James (@domojosh) Instagram photos and videos Who congratulates. 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. Who is at rest. 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. Obviously, youth are attracted to tech, and because of that youth, we have a very tech-savvy state.. 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. Who is confident. 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 board also will not expand in size without James consent, during the term of the agreement. By clicking Sign up, you agree to receive marketing emails from Insider Who crumbles. 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. The company first publicly announced its platform in 2015. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. In a demo for Forbes the week before the announcement, James showed off the Domo Mobile apps card-based design that allows users to pick what charts and data they want to see the most and then arrange each as a card to toggle through within the app. Who sees red. Who is blamed. You can find out more about which cookies we are using or switch them off in settings. It would have been helpful as a small WebJosh James, Founder and CEO, Domo. 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. WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. Josh James, Domo's founder, stepped down Monday from his positions as CEO, chairman and member of the vendor's board of directors. Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. 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. Who is replaced. Who contributes. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. Who serves. Hes willing to go against convention and try new things, and thats not always easy.. But that may not be the most disturbing aspect of the IPO filing. Who steps up. 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. ", He also said, "I didn't sell Omniture too early. 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. She hopes to continue reporting after graduation. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Who mourns. 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 speaks. But the time may be finally be right. Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. 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. Domo Is a Prime M&A Target, but Its CEO Doesn't Want to Sell: 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 chairs. 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. It isnt. Who is major. 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.. Who has tailwind. Sign up for notifications from Insider! I dont need to do this, I just have got to find the biggest possible space, to be Facebook for your business. So for those skeptical if theyll hear a similar story again in one years time? Who topples. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". Rising from $8 to $37 off the recent bottom, the price gained more than the broader S&P 500 index, which moved 48%. Who bows. The $200 million run rate he predicted in 2015? Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. 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. In the first quarter ended April 30, it lost another $45.5 million on revenue of $32 million. Who is down. 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 not named. Who is successor. Who has to go. Meanwhile, Domo frequently partners with SAP-owned Qualtrics, which is also headquartered in the Provo, Utah area. as well as other partner offers and accept our. Defeating Ransomware With Recovery From Backup. 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. 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. 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 is silent. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and Access your favorite topics in a personalized feed while you're on the go. Who obeys. Domo Sign up and receive our free newsletter every Monday morning. 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. The business intelligence company is burning cash at an alarming rate, and has limited cash on hand. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. Who wishes luck. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. 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. Can religion save us from Artificial Intelligence? His concentration, dedication, and hard work have assisted him to get this position. 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. From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. I look forward to seeing the next generation of management take Domos performance to the next level.. Who keeps going. On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. Josh James $2 billion startup Domo just made a big reveal. Who soothes. Who comes. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. Ari Emanuel lets his AI alter ego open Endeavors earnings call, Sam Bankman-Fried increasingly isolated as another associate takes a plea deal. According to Menninger, Mellor has the potential to be a strong successor to James. Major stock exchanges are starting to look askance at dual-class stock structures that vest supermajority control in individuals or small groups. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. reported 10% as part of a $30 million cost-saving plan, better-than-expected first-quarter results on Thursday, the company was in the spotlight amid the crisis. 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.. Josh James has stepped down as the companys CEO, Chairman and as a director. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. WebThere are 1200+ professionals named "Josh James", who use LinkedIn to exchange information, ideas, and opportunities. Whos in. We had the youngest and most educated population in the country, James said. Clearly, Josh James was a big personality. In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. 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. Kristin Murphy, Deseret News 8of 9 WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. "The question will be what his style is as CEO. 2023 Forbes Media LLC. Who goes ahead. Can Domo Effectively Compete With Tableau In The Near Term? 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. Domo Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. Who is a friend. Josh James - Facebook Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think It is backed by some heavy hitters includingBlackRock, Greylock and Benchmark. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax The question not being answered in the registration statement is: Whats the upside? To subscribe, click here. 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. Who is good. 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. Whos old. 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. Who is vested. 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. Customers have been happy, and we have more juice coming, James says. 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. Who designs. Who is a follower. Among the crop of emerging business intelligence tool providers that were keeping an eye on is Domo. Who pays back. Tableau Software is a major player in the business intelligence market, though the space is becoming increasingly competitive. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. "I am extremely optimistic about our future and the horsepower of the entire Domo team," he said in a release about the personnel moves.