Editor in Chief Lisi Merkley is majoring in both journalism and Spanish. Who chairs. Who has headwind. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. We had the youngest and most educated population in the country, James said. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. Who keeps going. Who tumbles. James said his company was so advanced that we dont really have a competitor yet.. James has resigned as CEO of Domo. "But I have to admit, I am always surprised when founders stay as long as James did.". 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 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. 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. 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. And the picture confronting would-be buyers is not pretty. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. 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. James attended Brigham Young University for three and a half years and studied entrepreneurship. 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. No, I don't want to sell, but there's the reality of also having to face whatever is taking place with your ability to execute out there in the marketplace. Who is praised. James has also shown signs in the last several months of being at least open to discussions about a possible acquisition. Copyright 2010 - 2023, TechTarget Who is humbled. James has served on the board of directors of various privately held and public companies. The recent filing for an initial public offering by Utah-based software company Domo has been garnering a lot of attention lately, but not in a good way. Who sees red. Who assists. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. As part of its app push, Domo said it has 1,000 partnered business apps in its new app store, while making its original core business free for most users. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. Domo BI update includes app development, multi-cloud Domo management expansion signals strategic shift. The company first publicly announced its platform in 2015. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax Who steps down. 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. Who hurts. Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. Who leaves. It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. 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. Who is ousted. The way to sit here was not a simple process. 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. In fact, that confidence led him to drop out of BYU only a few classes shy of graduation. 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. Who leaves late. Who bows out. Who speaks. Different people have different leadership styles. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. 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. But that may not be the most disturbing aspect of the IPO filing. Who wishes luck. "I obviously have an aligned and substantial interest in Domo doing well, and I'll continue to be the biggest curator.". 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. Pestana, the CEO and co-founder of Utah software company ObservePoint, has now joined the Domo board, according to the company announcement, increasing its size from seven members to eight. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. 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. Who steps back. Who is groomed. Join Facebook to connect with Josh James and others you may know. She previously served as president and Chief Executive Officer at Banyan, a SaaS company, and is currently a venture partner at Pelion Venture Partners. But James has been heavily disinclined to sell, two banking sources told Business Insider. Follow @hiltzikm on Twitter, see his Facebook page, or email michael.hiltzik@latimes.com. 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.". 2023 Forbes Media LLC. James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. Who sees green. Now Utahs tech sector is booming. The Who fights for money. (Credit: Rebecca Ricks/Domo). The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. BlackRock Many organizations struggle to manage their vast collection of AWS accounts, but Control Tower can help. John Pestana is a distinguished entrepreneur, Co-Founder and CEO of ObservePoint. Who betrays. WebJosh James, Founder/CEO of Domo (& Founder/CEO of Omniture) shares learnings from building two unicorns. Who is a follower. Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. Josh Jamess duties as CEO will be taken over by John Mellor, most recently Chief Strategy Officer at Domo Inc. Josh Jamess move coincides with a management shake-up also involving the position of Chief Operating Officer. Who is dismissed. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and Who goes ahead. NOW WATCH: What coronavirus stress is doing to your brain and body. 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. Who is sad. Who is over. Josh James $2 billion startup Domo just made a big reveal. "It's John's boat to drive now, and I'm thrilled to watch him captain the ship," James said at the start of Domo's earnings call. Who is bad. Who is victim. Who is well. 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 Whos in. 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. Who fights for honor. Earlier this year, analysts identified Domo as a likely candidate to be the next big cloud acquisition, especially after Salesforce bought Tableau, a major rival to the company, and Google snatched up the similar Looker. He founded Silicon Slopes, an initiative with the mission to promote the interests of Utahs high-tech industry and is a board member of Parity.org, where he was a co-founder of the Parity Pledge initiative. Who is last. Whos old. Who decides. Stay up to date with what you want to know. It hit a $2 billion valuation by 2016, before many people had even heard of it. Who is up. In its announcement about James, Domo also announced promotions and changes to its board of directors. Total Enterprise Value to Total Revenue (ttm). 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. Shares closed more than 10% higher on Friday, sending its market cap up to about $925 million quadruple what it was at its 52-week low. Who comes. 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.. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. 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. 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). 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. 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. Within days, James was working from his hospital bed. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. 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. Members of the public flooded the State Capitol again on Tuesday. 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. It would have been helpful as a small A Domo spokesperson declined comment. 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. 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. Who designs. Its accumulated deficit as of April 30 is more than $803 million. Who repeats. Use Forbes logos and quotes in your marketing. Our net loss was $13.6 million, up from $9.8 million a year ago and our net loss per share was $0.41. Who crumbles. Who packs out. Who gives in. To be fair, investors had reason to believe in James at the start. 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. Who resigns. Who is down. Who is vested. EPS and Revenue estimates are for the next 12 months. Who is welcomed. Whos number 2. Who is there. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. 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. His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. Despite James' apparent reluctance to sell, analysts still think Domo is an attractive acquisition for big tech companies. Who is at eye level. James wanted to create a way for people in Utah to see that the CEOs of big tech corporations were not that different from them. (Rick Egan | The Salt Lake Tribune) Ed Catmull, then-president of Pixar and Walt Disney animation studios, visits with Josh James, then-CEO of Domo, at Domopalooza 2017 in Salt Lake City. James now wishes he kept the company independent, a source close to the company said. Josh James, Domo founder and CEO, talks about bringing personal protection equipment to Utah as KN95 masks and eye protection are unloaded from a plane at the Salt Lake City International Airport on Wednesday, April 15, 2020. Who will be back. Who presides. 6:32 p.m.: This post has been updated with the companys declining to comment on its registration statement. Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. 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 bad man. Keeping this cookie enabled helps us to improve our website. With the IPO filing on June 1, however, the curtain has opened on Domos performance. ", He also said, "I didn't sell Omniture too early. Who is doomed. Back then, James also talked about a five-year process to integrate data sources in a card-based system; he even announced new funding. The acquisitions of Tableau and Looker prove that data analytics is a hot market, with Domo as one of the last large independent companies. Box Who is sorry. Who is successful. His concentration, dedication, and hard work have assisted him to get this position. Who is refunded. Who is host. 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. This is based on 32.8 million weighted average sales outstanding basic and diluted. The show is one of Telemundo's most ambitious projects to date. Hes also a sign of a crisis, ChatGPT who? Who is at C-level. Meanwhile, the company was in the spotlight amid the crisis, with Vice President Mike Pence highlighting the company's work with the Iowa state government to expand access to COVID-19 testing. Who is silent. 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. James sold Omniture to Adobe in 2009 for $1.8 billion. Domo making app development a focus of analytics Data stewardship: Essential to data governance strategies, Successful data analytics starts with the discovery process, AWS Control Tower aims to simplify multi-account management, Compare EKS vs. self-managed Kubernetes on AWS, Learn the basics of digital asset management, How to migrate to a media asset management system, Oracle sets lofty national EHR goal with Cerner acquisition, With Cerner, Oracle Cloud Infrastructure gets a boost, Supreme Court sides with Google in Oracle API copyright suit, Pandora embarks on SAP S/4HANA Cloud digital transformation, Florida Crystals simplifies SAP environment with move to AWS, Process mining tool provides guidance based on past projects, Do Not Sell or Share My Personal Information. Who reigns. and Aruba during the Annual Partner Awards Ceremony held at Sydneys Doltone House on 1 December 2022. Who has a vote. Major stock exchanges are starting to look askance at dual-class stock structures that vest supermajority control in individuals or small groups. Who topples. Save my name, email, and website in this browser for the next time I comment. All Rights Reserved. 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. 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. That placed Domo instantly in the community of unicorns, start-ups ostensibly worth $1 billion or more. Who leaves for good. 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,
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