Who leaves late. 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 is a follower. "Both are highly competent executives, and they're getting well-deserved promotions and recognition," Henschen said. In an attempt to boost the tech sectors visibility in Utah, he created a group called the Internet Roundtable in 1999. Because the majority of his employees are married with families, as compared to Silicon Valley which is mostly single people, James has tried to find a way to convince not just his employees but their families that his company is a great place to work. The IPO wont change that materially. "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.". In the company news release, James said he was very excited for Domos future under Mellors stewardship as the new CEO. Who is bad. Who is silent. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. 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. The business intelligence software firm Domo Inc. announced a surprise leadership change today, naming John Mellor its new chief executive officer. 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. Who is dismissed. From sales rep productivity to gross renewal rate, Domo CFO Bruce Felt highlights which company metrics to track when budgeting during todays macro uncertainty. Investing in Domos success starts with our employees, as they are the foundation of this business, said Josh James, Domo founder and CEO. Who crumbles. Pre-IPO, James has 91.7% of the votes. The Salt Lake Tribune, Inc. is a 501(c)(3) public charity and contributions are tax Kristin Murphy, Deseret News 8of 9 Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. Who is fired. Whos number 2. It takes a company's data from hundreds of applications and turns it into charts, graphs, insights. Domo offers cloud software for "business intelligence and analytics." Who contributes. Los Angeles Times columnist Michael Hiltzik writes a daily blog appearing on latimes.com. 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. Seeing other people do it that are from similar backgrounds and similar situations makes you believe that you can do it too,James said. Domo founder and CEO Josh James began his keynote last year with a group of dancing ninjas. Other than trying to prove Utahs force in the tech industry, James Silicon Slopes initiative has changed the way businesses work, especially when it comes to diversity. 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. Who leaves early. Catherine Wong, Domos chief product officer and executive vice president of engineering since 2013, was promoted to chief operating officer. When its ERP system became outdated, Pandora chose S/4HANA Cloud for its business process transformation. Privacy Policy Who bows out. Who sits. 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. 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. She hopes to continue reporting after graduation. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Who is thrilled. 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. Who is a leader. We could go public this year if we wanted to, he addsbut he said the same a year ago, too. Who is missed. 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 is good man. But the time may be finally be right. Josh James $2 billion startup Domo just made a big reveal. Despite the recent price drop, Domo still has highly optimistic growth expectations baked into its stock price. Follow her on Twitter @elisynkay. 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. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. Who commands. Domo insiders say that CEO Josh James faced a sharp backlash, and eventually apologized, after telling a story at an all-hands meeting that made many Its Class A common stock has 40 votes per share, and its Class B common stock has one vote per share. I have an aligned and substantial interest in Domo doing well, and Ill continue to be its biggest cheerleader, James said. This arrangement can work when control is placed in the hands of a genuinely visionary and effective founder. 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. 2023 Forbes Media LLC. In 2015, Domo burst onto the scene with little warning. Do Not Sell or Share My Personal Information, Work phones make a comeback as offices ban WhatsApp, TikTok, The cameras know who you are. 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. A review of GOEO board meetings showed Clark recused herself from the discussion over approving the Domo incentives. Bigger businesses that want administrative support and oversight will be able to try those tools for 60 days before paying. He has some kind of unconventional rules, Dyer said about James business strategy. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. Who is at rest. Previously, Carine Clark held leadership positions in software, market research and marketing companies. This year, however, it will be Mellor who will be front and center as CEO. Who comes. After rallying nearly 5x since the lows seen on March 23, we believe Domo Incs stock does not have room to grow. Ari Emanuel lets his AI alter ego open Endeavors earnings call, Sam Bankman-Fried increasingly isolated as another associate takes a plea deal. Who fits. 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. Eventually, others joined the cause, including other tech CEOs from around the state. James sold Omniture to Adobe in 2009 for $1.8 billion. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. Who is major. 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 is family. Domo is led by its charismatic founder CEOJosh James, who previously founded Omniture and sold it to Adobe for over $1 billion in 2009. Youd think, Who owns that house,' or, Who owns that company,' James said. Comparing Domo's Sales And Marketing Spend With Tableau's, Comparing Domo's Growth And Valuation To Anaplan's. 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.". Its accumulated deficit as of April 30 is more than $803 million. 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. Who is sad. 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 is selected. Whos obsolete. In disclosing risks, the annual report also notes that the way Domos common stock is structured in two classes concentrates voting control with James. How to assess the Push-out Score: a 10-step guide. Its been a huge blessing for my family personally because weve had to end up using it, Stephan said. 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. Durling has served as Chief Information and Digital Enablement Officer at Vivint Smart Home Inc. since early 2017. 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.. 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. Who is victim. Whos out. Who is gone. This is based on 32.8 million weighted average sales outstanding basic and diluted. From the start, James said he had no doubts that his web analytics company, Omniture, would be successful. Who is refunded. Someones got to be on top. 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 groomed. With the IPO filing on June 1, however, the curtain has opened on Domos performance. All values as of most recently reported quarter unless otherwise noted. As announced by Domo Inc. in a news release and in a regulatory filing published on Tuesday, March 1, 2022, Joshua G. (Josh) James leaves his post as chief executive officer at the cloud softwarecompany, after 12 years in the role, effective immediately. All rights reserved. Total Enterprise Value to Total Revenue (ttm). Who sees green. Who is invested. , Salesforce, Tableau and the like), that allows customers to pull from any of the 1,000 apps to see whatever they want. the company reported better-than-expected first-quarter earnings despite the coronavirus crisis. Similarly, David Menninger, an analyst at Ventana Research, said James' departure was a surprise but not evidence of any problems at Domo. 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. Who helps. Who has tailwind. He was also the co-founder of Omniture, which was acquired by Adobe in 2009. Who is a friend. Access your favorite topics in a personalized feed while you're on the go. 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. 2018 is already shaping up to be a good year for enterprise tech IPOs with Dropbox now public and Pluralsight,Zuora, DocuSign, SmartSheet, and Pivotal all filing their paperwork and waiting in the wings. Who wishes luck. Follow him on Twitter at twitter.com/hiltzikm and on Facebook at facebook.com/hiltzik. 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. He previously founded Omniture, an online data analytics service that he sold to Adobe in 2009 for $1.8 billion. 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. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? Domo declined to comment on potential M&A activity. Who gives in. The new-look Domo is focused on the company'sjust-unveiledbusiness cloud. 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. The announcement, made at Domos annual event called Domopalooza, in some ways echoes what James shared at the same event in 2015.