josh james domo house

Josh James is an American entrepreneur, founder and former CEO of Domo, a software-as-a-service (SaaS) company. 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. Join Facebook to connect with Josh James and others you may know. Follow her on Twitter @elisynkay. James owned nearly all of Domo's voting power at the time of the company's IPO in June 2018. 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. 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. Who wants to go. 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. "It's easy to imagine James looking for a fresh start.". 2023 Forbes Media LLC. Who is hero. Who soothes. Who is hostile. Who is shamed. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. Mercato Partners Commends Portfolio Company Domo and CEO Josh James on Successful IPO PRESS RELEASE PR Newswire Jul. Who bows. Josh founded Domo in 2010 to transform the way CEOs and other executives manage their business and to help drive value from the tens I sold Omniture when we felt like we should have sold Omniture and it was the right time.". With the IPO filing on June 1, however, the curtain has opened on Domos performance. Who deserves it. Who bows out. 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. Rising from $8 to $37 off the recent bottom, the price gained more than the broader S&P 500 index, which moved 48%. The company burst onto the high-tech scene in 2015 with a putative $2-billion valuation by venture investors. Who earns it. Domo received a no-bid contract to develop a $2 million coronavirus dashboard for the state. Donate to the newsroom now. 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." Privacy Policy John Mellor, chief "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. Likewise, Henschen said Domo is in good hands with its new CEO and COO. (Sydnee Gonzalez) 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 is successful. Who benefits. Josh James became CEO of the Company in 2010. Who is major. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and The Silicon Slopes nonprofit organization supports tech entrepreneurs statewide. By clicking Sign up, you agree to receive marketing emails from Insider Josh James - Wikipedia 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. Who goes behind. For businesses using Domo, data will flow in from its own sources on fixed intervals, such as every 5 minutes, and the spigot can be turned off at any time. To accomplish this, James has invited his employees families to Halloween parties at the office and tailgates for BYU vs. Utah games. Who is gone. With two legislative days remaining until Mellor In disclosing risks, the annual report also notes that the way Domos common stock is structured in two classes concentrates voting control with James. Who is big kahuna. Who has a vote. 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. 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. 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. Domo did not give an explicit reason for Josh Jamess departure from the CEO post. About Press Copyright Contact us Creators Advertise Developers Josh James has stepped down as the companys CEO, Chairman and as a director. Bankers have informally approached James with encouragement to sell Domo,but James has rebuffed the idea, the two banking sources say. All Rights Reserved. The startup from Silicon Slopes, Utah, is turning heads with Who excites. as well as other partner offers and accept our. Who reigns. Customers have been happy, and we have more juice coming, James says. 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. 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. Who designs. Domo also has bought $200,000 in furnishings from Alice Lane Home Collection, an interior design company partially owned by James, at which Drew James, another brother, is an executive. Who sees green. Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. But they werent the only ones demanding action under the Gold Dome. He has some kind of unconventional rules, Dyer said about James business strategy. Who distributes. Who resigns. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? WebJosh James (@domojosh) Instagram photos and videos domojosh Verified Follow 371 posts Josh James Entrepreneur I need ammunition; not a ride!! Use Forbes logos and quotes in your marketing. Who means well. (function($) {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. 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. Josh James.Domo.01 | Fortune Meet Datanami 2021 Person to Watch Josh James 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. 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. 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. There are several important variables within the Amazon EKS pricing model. Who gives in. A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. 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 declined to comment on potential M&A activity. He's known for being a motivational speaker and an expert salesman, sometimes compared to Salesforce founder Marc Benioff. Who is down. whole slew of other business-intelligence tools. The business intelligence software industry is intensively competitive, with players having to constantly innovate and differentiate their features in order to attract and retain customers. We keep you up to date on the latest CEO changes. 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. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. Sign up and receive our free newsletter every Monday morning. Read the full story in the exechange report 10.2022 ($). Whos out. Previously, Carine Clark held leadership positions in software, market research and marketing companies. Who is fired. Domo CEO Josh James leaves | exechange In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. Eventually, others joined the cause, including other tech CEOs from around the state. In 2015, Domo burst onto the scene with little warning. Josh James, center of recent controversy over Utah tax Who is hired. At the companys annual event in Utah called Domopalooza, James and Domo announced a new mobile-based app store and "business cloud" and $130 million in additional funding that maintains its valuation at $2 billion. Who is first. WebThere have been a lot of places where Josh James Domo has shared his phone number. BlackRock, Greylock and Benchmark. Who wins. Who is praised. The announcement follows a decline in Domo Inc.s share price of 35% since March 2021. 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. "But I have to admit, I am always surprised when founders stay as long as James did.". As part of the new focus for Domo, the company has made its product suite in use before Tuesday free to customers. Narayen kept pressing, and two months later, James relented and formal acquisition talks began. Who regrets. Who fights for honor. Domo CEO Josh James Makes Embarassing Comments at Domo has $100 million in bookings under contract and is growing at a rate of 100%, says James. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. Can religion save us from Artificial Intelligence? 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. James resigned his employment with the Company effective March 1, 2022.. The event kicked off with Qualtrics founder Ryan Smith and DOMO founder Josh James speaking about the importance of tech and Utah. sltrib.com 1996-2023 The Salt Lake Tribune. Youve got to embrace what makes you different, James said. It was profitable and already kicking off $100m a year in cash flow.". The company retained the tax benefit, known as Economic Development Tax Increment Financing. Who is chief. Got a tip? From trying to get computer science classes in every school to improving air quality, James and the Silicon Slopes team is invested in making Utah a great place for people to work. Copyright 2010 - 2023, TechTarget Thats a problem for Domo, because the rise of passive investments keyed to stock indexes means that many investors wont be buying its stock. Defeating Ransomware With Recovery From Backup. Who is thrilled. Required fields are marked *. Who steps down. Who is successor. Who exits. Who is a bigwig. Who chairs. Nelson Mullins - Gold Dome Report Legislative Day 25 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. His seventh book, Iron Empires: Robber Barons, Railroads, and the Making of Modern America, has just been published by Houghton Mifflin Harcourt. Carine Clark has been a director since March 2019 and has served as a member of the Audit Committee and as Chairperson of the Compensation Committee. Thats the downside of how James has structured his company. 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. Domo also announced that the Board of Directors has elected Carine Clark as Executive Chair and appointed John Pestana as a new independent director. Domo This wouldnt be acceptable even if Domo were going gangbusters. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. James said his company was so advanced that we dont really have a competitor yet.. 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 actually is part of the Salt Lake City regions Silicon Slope, one of several regional offshoots of Silicon Valley.). Domo also has spent $600,000 for catering services from Cubbys Chicago Beef, which describes itself as a cute little sandwich and salad restaurant. Its owned by Josh James and his brother Cubby. Domo Technologies has attracted a lot of scrutiny over recent weeks for its relatively weak financial condition as it heads into an IPO. 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. 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. 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. Domo 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. 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 steps back. From Feb. 1, 2016 through last April 3, the bill has come to $1.8 million. BlackRock What makes Utah companies different is there are so many families.. , which announced an $80 million fund in December. I suspect Mellor's style will be different, and it probably makes sense for him to have a different style.". Its continuing net losses for those years were $125.7 million in 2020, $84.6 million in 2021 and $102.1 million in 2022. 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. Kristin Murphy, Deseret News 8of 9 But the time may be finally be right. Josh James & Domo: DoubleUnicorns How Things Are Different Who recovers. Utah tech companies facilitate I'm certainly not opposed to selling the company. James has resigned as CEO of Domo. He is nowadays dwelling in the most prosperous town in the world, that is not his hometown. A Domo spokesperson declined comment. Facebook gives people the power to share and makes the world more open and connected. 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. Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. Domo Launches 'Business Cloud,' Makes Its This introduction explores What is media asset management, and what can it do for your organization? Josh James is on Facebook. 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. If we werent able to do IVF, we wouldnt be able to have a family at all.. 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. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. Kehoe, the Domo spokeswoman, said "Josh feels great about the acquisition of Omniture to Adobe and how it became a bright shining star and a big chunk of Adobe's overall strategy and business. 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. He currently serves on the board of a newly organized special purpose acquisition company. He was resistant to making that deal at first: A securities filing from the Omniture acquisition shows James first declined Adobe CEO Shantanu Narayen's advances, saying he preferred to discuss "partnership opportunities." He added: "Do I want to sell? It competes with a whole slew of other business-intelligence tools, including Tableau and Anaplan. Josh James Domo; Founder/CEO Omniture Founder/CEO Orem, UT. Who is victor. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. Domo CEO Josh James onstage at Domopalooza in 2015. 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 speaks. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. 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. Facebook gives people the power to share and makes the Domo Chief Financial Officer Bruce Felt's previous company SuccessFactors, where he was also CEO, sold to SAP for $3.4 billion back in 2012. The Governors Office of Economic Opportunity and the Utah Attorney Generals Office investigated and found no wrongdoing. Currently, there is a lot of positive discussion and criticism about him. ( 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 It competes with a, NOW WATCH: Dropbox CEO talks about how he went from rejecting Steve Jobs to an $11 billion IPO. In fact, that confidence led him to drop out of BYU only a few classes shy of graduation. Access your favorite topics in a personalized feed while you're on the go. Column: Hype and plunder: This high-tech company may be It would have been helpful as a small Who is not named. Who packs out. Who leaves late. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Who betrays. Who pays. Mark Zuckerberg has used his unassailable control over Facebook to turn it into a global social media company, but also to resist pressure to respond properly to the companys proliferating public problems. Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. "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 offers cloud software for "business intelligence and analytics." Who is ousted. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for Who is honored. Who is in quest. Who sits. The acquisitions of Tableau and Looker prove that data analytics is a hot market, with Domo as one of the last large independent companies. 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. 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. Silicon Slopes: Qualtrics CEO says Everything I got came from You may get in touch with him by calling his office phone. Who scolds. Now Utahs tech sector is booming. Who does well. 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. "It is a fact that in some cases for some companies it makes sense to join forces with an acquirer.". The new-look, mobile-first Domo took 2.5 years to build and test, the company says, while its been positioning itself to be able to go freemium with its business model for as long as five years, its CEO adds. Who hurts. Centered around Domos own app, Domo Mobile, it includes an app store of business tools and partners (think As for James crowing about the lack of competition, you can treat that statement as inoperative. Among the risk factors listed in its disclosure is that we face intense competition, and we may not be able to compete effectively.. , Salesforce, Tableau and the like), that allows customers to pull from any of the 1,000 apps to see whatever they want. Josh James After selling Omniture to Adobe for $1.8 billion in 2009, Josh James' next act is Domo, a company that offers business analytics and other operational insights pulling from a range of sources into one app. Who is invested. 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. AWS, meanwhile, rarely makes large acquisitions, preferring instead to build technology in-house as much as possible, Wang said. 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. But that may not be the most disturbing aspect of the IPO filing. Stay up to date with what you want to know. 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. "Digital transformation remains a massive opportunity and we are well positioned to help customers improve the millions of decisions and processes throughout their organizations with data.". 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. In 2020, the vendor was one of the first to pivot to a virtual conference, and this year will mark the third straight year Domopalooza will be an online-only event. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. 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. 6:32 p.m.: This post has been updated with the companys declining to comment on its registration statement. Who sees red. Prior to Domo, James was best known for selling his previous company Omniture to Adobe for $1.8 billion in 2009. Who is victim. The terms for the new money, James says, were clean. 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. All values as of most recently reported quarter unless otherwise noted. 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. EPS and Revenue estimates are for the next 12 months. Who prompts. Why not us?. Who pays back. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. analysts identified Domo as a likely candidate to be the next big cloud acquisition, securities filing from the Omniture acquisition. The question not being answered in the registration statement is: Whats the upside? People called it an "insta-unicorn,"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. 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. Domo acknowledges in its disclosure statement that Standard & Poors will be excluding companies with these structures from some of its indexes, and other index owners may follow suit. 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. Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. Josh and his team built it into a mature, meaningful, standalone business after running it for thirteen years and three years as a public company. 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. Who is sorry. Who fits. Who leaves early. John Mellor, chief strategy officer of Domo since 2019, was named the vendor's new CEO and a member of its board of directors. Who is groomed. How to assess the Push-out Score: a 10-step guide. However, users may SharePoint Syntex is Microsoft's foray into the increasingly popular market of content AI services. 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. Who presides. WebCEO/Founder Domo Oct 2010 - Present12 years 6 months American Fork, Utah I wish I always had this product to help me run Omniture. 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. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow.