Domo (company)

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Domo, Inc.
Public
Traded as NASDAQDOMO
Industry Computer Software
Founder Josh James
Headquarters American Fork, Utah, US
Area served
Worldwide
Key people
Josh James (Founder),(CEO)
Website domo.com

Domo, Inc. is a computer software company based in American Fork, Utah, United States. It specializes in business intelligence tools and data visualization.[1]

History[edit]

Domo, Inc. was founded in 2010 by Josh James, who also co-founded the web analytics software company Omniture in 1996, which he took public in 2006.[2][3][4][5] In 2009, three years after taking the company public, James sold Omniture to Adobe Systems Inc. for $1.8 billion[6]. In October 2010, after leaving Adobe, James started Shacho, Inc.[7] Two months later, as one of its first moves, Shacho purchased Lindon-based Corda Technologies[8] to jump start the data visualization component of the product. At the time, Corda had grown to about $10 million in annual revenue. James changed Shacho's name to Domo,[9] which means thanks in Japanese.[10][citation needed]

Investors[edit]

As of December 2016 the company has raised a total of $589 million.[11] Benchmark Capital, Andreessen Horowitz, Ron Conway and David Lee of SV Angel, Hummer Winblad, salesforce.com’s Marc Benioff, and Fraser Bullock of Sorenson Capital invested the first $43 million.[2][12][13] Later on in 2011, $20 million came from Silicon Valley-based Institutional Venture Partners, which previously invested in Josh James’ previous start-up, Omniture.[2][12] In 2013, the company announced a Series B investment of $60 million from GGV Capital, Greylock, Bezos Expeditions, and Co-CEOs of Workday, Aneel Bhusri and Dave Duffield.[14] In February 2014, Domo announced Series C funding of an additional $125 million from TPG Growth, T. Rowe Price, Fidelity Investments, salesforce.com, Morgan Stanley Investment Management, Viking Global Investors, and Dragoneer Investments Group. Existing investors GGV Capital, Greylock Partners, IVP, and Mercato Partners also participated.[15] There also was an investment in March 2014 with an undisclosed amount.[11] In April 2015, Domo, Inc raised another $200 million in Series D financing with a $2 billion valuation. The round was led by BlackRock. Glynn Capital Management, Capital Group and existing investor GGV also participated.[16] By that time the company passed the $1 billion valuation threshold and is one of the so-called unicorns in the industry. In March 2016 the company closed a Series D investment round of $131 million with its existing investors and new investors, including Credit Suisse and Capital Advisors.[17] On April 27, 2017 Domo raised $200 million in Series D funding led by Blackrock, with participation from Capital Group, Glynn Capital Management, and GGV Capital.[18] Domo, Inc. was listed on the NASDAQ Global Exchange June 29, 2018 with an initial offering of 9,200,000 shares at $21.00 USD per share. [19]

Overview[edit]

Domo, Inc is a form of business intelligence (BI) that is a business management platform, delivered as a service, to CEOs and executives. The service is designed to provide direct, simplified, real time access to business data without any IT involvement.[20][21][12][22][23] It is a software-as-a-service (SaaS) venture.[2][20] The company's board of directors includes Matt Cohler and Mark Gorenberg.[20]

Customers[edit]

Domo's customers include: Air Canada, American Kiosk Management, eBay, Lacy Auto Parts, Fox Sports, Goodwill, H & R Block, Lendio, National Geographic,[which?] Nissan, Ogio, Randall-Reilly, SAB Miller, Sage, Toys R Us, and Xerox, among many others.[24]

References[edit]

  1. ^ Mountain, Dev. "Top 7 Hottest Tech Companies in Utah". KUTV. Retrieved 2018-06-20.
  2. ^ a b c d "U.S. Markets closed". Yahoo Finance. September 6, 2012. Archived from the original on 2012-08-04.
  3. ^ "Domo's New Approach to Business Intelligence Makes Big Splash at Gartner BI Summit". Yahoo! Finance. April 18, 2012. Missing or empty |url= (help); |access-date= requires |url= (help)
  4. ^ "On Utah's 'Silicon Slopes,' Tech Jobs Get A Lift". NPR. March 12, 2012. Retrieved 2012-09-06.
  5. ^ "Domo's Josh James: We're Making Every Employee Embrace Social Media, And It's Paying Off". TechCrunch. June 23, 2012. Retrieved 2012-09-06.
  6. ^ "Breaking: Adobe To Acquire Omniture For Approximately $1.8 Billion". TechCrunch. Retrieved 2018-08-17.
  7. ^ Ferguson, Joey. "Omniture founder Josh James launches Domo, Inc. business intelligence with $43 million". Deseret News. Retrieved 2012-09-06.
  8. ^ "Shacho Gets $10M, Buys Corda - silicontap.com". www.techrockies.com. Retrieved 2018-08-17.
  9. ^ "Omniture founder obtains $33 mln for start-up". Reuters. July 14, 2011. Retrieved 2012-09-06.
  10. ^ "Expressing Gratitude and Regret in Japanese - dummies". dummies. Retrieved 2018-08-17.
  11. ^ a b "Domo Funding Rounds". crunchbase.com. Crunchbase. Retrieved 2016-12-14.
  12. ^ a b c "Business intelligence startup Domo pulls in another $20M". VentureBeat. Retrieved 2012-09-06.
  13. ^ "Series A Whopper: Benchmark Invests $33M in New BI Company Domo". TechCrunch. July 13, 2011. Retrieved 2012-09-06.
  14. ^ "Exclusive: Omniture co-founders, business intelligence, SAAS company domo raises $60m". TechCrunch. March 11, 2013.
  15. ^ "Josh James's Domo, Inc raises $125 million from TPG, others". Reuters. February 5, 2014. Retrieved 2014-02-06.
  16. ^ "Domo valued at $2 billion in latest funding, prepares for IPO". Wall Street Journal Blogs. April 8, 2015.
  17. ^ Chapman, Lizette (2016-03-22). "Domo Raises $131 Million, Creates Fund for App Developers". Bloomberg.com. Bloomberg. Retrieved 2016-12-14.
  18. ^ "Domo Raises Funding From BlackRock With IPO Plans on Hold". Bloomberg.com. 2017-04-27. Retrieved 2017-04-28.
  19. ^ "DOMO, INC. (DOMO) IPO". NASDAQ.com. Retrieved 2018-06-29.
  20. ^ a b c "Omniture Co-Founder Launches New Business Intelligence Venture". Enterprise Apps Today. July 14, 2011. Retrieved 2012-09-06.
  21. ^ "What We Do :: Overview". DOMO. Retrieved 2012-09-06.
  22. ^ "Utah's Josh James among 192 Young Global Leaders". The Salt Lake Tribune. Retrieved 2012-09-06.
  23. ^ Hardy, Quentin (October 24, 2011). "The Big Business of 'Big Data'". The New York Times Blogs. Retrieved 2012-09-06.
  24. ^ "Customers". domo.com.

External links[edit]