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Catherine Wong, VP Product at Domo, talks about leadership and what motivates her. Domo is the latest tech company to join the IPO rush, and the second Utah cloud unicorn in recent weeks after Pluralsight. Previously, Carine Clark held leadership positions in software, market research and marketing companies. 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. Domo CEO Josh James onstage at Domopalooza in 2015. Who is in quest. Who is Who. Now Utahs tech sector is booming. James was the co-founder of Omniture, Inc., a provider of online business optimization products and services, and from 1996 to 2009, he served as its chief executive officer. In fact, that confidence led him to drop out of BYU only a few classes shy of graduation. 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 bows. NOW WATCH: What coronavirus stress is doing to your brain and body. With the IPO filing on June 1, however, the curtain has opened on Domos performance. ( 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 Who is sorted out. Domo recently announced its first ever quarterly results since it went public in June, and the overall picture for the business intelligence company hasnt really changed much over the months since its IPO filing first gave investors a look at its operating figures. Now, years later, James is one of the visionaries behind Silicon Slopes, the cluster of technology startups that started in Utah County. James said that hearing from families who have benefitted from a program he approved is one of the best parts of his job. Who is praised. Why Are Domo's Valuation Multiples So Much Lower Than Those Of Other Cloud Companies? According to Menninger, Mellor has the potential to be a strong successor to James. 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. Who is a follower. 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 speaks. Kristin Murphy, Deseret News 8of 9 Who obeys. We face intense competition, and we may not be able to compete effectively. "The question will be what his style is as CEO. 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. 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. This means that Domo could be a benefit to just about any buyer. The startup from Silicon Slopes, Utah, is turning heads with Who is fired. Your email address will not be published. How to assess the Push-out Score: a 10-step guide. Domo also announced it has raised $131 million in new funding from a mix of billionaire founders and 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. I'm certainly not opposed to selling the company. Who stumbles. Its so important that we highlight women and minorities that are having success so that everyone sees that success, James said. Regardless of Domo's newly-solid footing, however, it's long been eyed as a potential takeover target. 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. 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. 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. Domos even setting up its own investment fund to put $50 million into supporting its new ecosystem. You may get in touch with him by calling his office phone. Who accepts. Facebook gives people the power to share and makes the world more open and connected. In addition to trying to promote equal representation in positions of leadership, the Silicon Slopes nonprofit also strives to help Utah in other ways. Who leaves. Who is an enemy. In its last fiscal year ended Jan. 31, Domo lost $176.6 million on revenue of $108.5 million. Domo, the $2.28 billion Utah-based startup that's been promising an IPO for years, may finally be making a move. 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? 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.. If the kids are like, My mom works at the coolest place in the world, or, My dad works at an awesome place, then mom or dad has got a lot of pride in where they are and where they work, and theyre going to stay here, he said. But the time may be finally be right. Who is successor. "But I have to admit, I am always surprised when founders stay as long as James did.". 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. We are using cookies to give you the best experience on our website. Who is welcomed. Who resigns. Who is good man. Total Enterprise Value to Total Revenue (ttm). Josh James became CEO of the Company in 2010. See DAM systems offer a central repository for rich media assets and enhance collaboration within marketing teams. 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. 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. As data governance gets increasingly complicated, data stewards are stepping in to manage security and quality. Domo offers cloud software for "business intelligence and analytics." And the picture confronting would-be buyers is not pretty. Who scolds. Who steps up. Who is victor. 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. Who chairs. On the other hand, Constellation analyst Wang thinks that neither Salesforce nor Amazon Web Services may be especially inclined to buy. Wang recently estimated that Domo could fetch a price tag as high as $1.5 billion in a potential acquisition. I look forward to seeing the next generation of management take Domos performance to the next level.. The IPO wont change that materially. 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. Who leaves for good. 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. Please enable Strictly Necessary Cookies first so that we can save your preferences! He added: "Do I want to sell? Your email address will not be published. In addition to its revenue growth, Domo continues to add new features and capabilities to its analytics platform. Members of the public flooded the State Capitol again on Tuesday. There are several important variables within the Amazon EKS pricing model. Do Not Sell or Share My Personal Information, Work phones make a comeback as offices ban WhatsApp, TikTok, The cameras know who you are. Who is sorry. Who presides. Who is invested. 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 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 has the last word. In disclosing risks, the annual report also notes that the way Domos common stock is structured in two classes concentrates voting control with James. Workday co-CEO Aneel Bhusri to leave post, SPS Commerce CEO Archie Black leaves post, Workiva CEO Marty Vanderploeg leaves post. Someones got to be on top. James beneficially owns all outstanding shares of Class A common stock through Cocolalla, LLC, of which he is the managing member, and as of January 31, 2022, beneficially controlled approximately 82% of the voting power of our outstanding capital stock and therefore is able to control all matters submitted to our stockholders for approval, the annual report said. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. (Credit: Domo). Who keeps going. Who is a bigwig. Who is hired. Who is a big wheel. But that may not be the most disturbing aspect of the IPO filing. We could go public this year if we wanted to, he addsbut he said the same a year ago, too. Cookie Preferences 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. Who is ousted. At the time of the tax incentive controversy, there was no indication that Clark had any undue influence on the process of awarding tax credits through GOEO.