Domo (company)

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Domo, Inc.
Public
Traded asNASDAQDOMO (Class B)
Russell 2000 Index component
IndustryComputer Software
FounderJosh James
Headquarters,
US
Area served
Worldwide
Key people
Josh James (Founder),(CEO)
Websitedomo.com

Domo, Inc. is a cloud 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 by Josh James in 2010.[2][3][4] In October 2010, after leaving Adobe, James started Shacho, Inc.[5] In December 2010, Shacho purchased Lindon-based Corda Technologies.[6] James changed Shacho's name to Domo.[7]

Investors[edit]

Initial investors in Domo include 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.[2][8][9] In 2011, $20 million came from Silicon Valley-based Institutional Venture Partners, which also invested in Josh James’ previous start-up, Omniture.[2][8] 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.[10]

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.[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 and Glynn Capital Management, Capital Group and existing investor GGV also participated.[12] At that time, the company passed the $1 billion valuation threshold and became a unicorn 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.[13]

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.[14] 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.[15]

Overview[edit]

Domo, Inc is a cloud-based platform designed to provide direct, simplified, real-time access to business data for decision makers across the company with minimal IT involvement.[16][17][8][18][19] It is a software-as-a-service (SaaS) venture.[2][16] The company's board of directors includes Matt Cohler and Mark Gorenberg.[16] Domo integrates with multiple data sources, including spreadsheets, databases, social media and other cloud-based or on-premise software solutions.

Customers[edit]

Domo's customers include: Apria Healthcare, DHL, eBay, European Wax Center, Fox Sports, Goodwill, Lendio, National Geographic, Stance, TELUS, Traeger and Univision.[20]

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. ^ "On Utah's 'Silicon Slopes,' Tech Jobs Get A Lift". NPR. March 12, 2012. Retrieved 2012-09-06.
  4. ^ "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.
  5. ^ Ferguson, Joey. "Omniture founder Josh James launches Domo, Inc. business intelligence with $43 million". Deseret News. Retrieved 2012-09-06.
  6. ^ "Shacho Gets $10M, Buys Corda - silicontap.com". www.techrockies.com. Retrieved 2018-08-17.
  7. ^ "Omniture founder obtains $33 mln for start-up". Reuters. July 14, 2011. Retrieved 2012-09-06.
  8. ^ a b c "Business intelligence startup Domo pulls in another $20M". VentureBeat. Retrieved 2012-09-06.
  9. ^ "Series A Whopper: Benchmark Invests $33M in New BI Company Domo". TechCrunch. July 13, 2011. Retrieved 2012-09-06.
  10. ^ "Exclusive: Omniture co-founders, business intelligence, SAAS company domo raises $60m". TechCrunch. March 11, 2013.
  11. ^ "Josh James's Domo, Inc raises $125 million from TPG, others". Reuters. February 5, 2014. Retrieved 2014-02-06.
  12. ^ "Domo valued at $2 billion in latest funding, prepares for IPO". Wall Street Journal Blogs. April 8, 2015.
  13. ^ Chapman, Lizette (2016-03-22). "Domo Raises $131 Million, Creates Fund for App Developers". Bloomberg.com. Bloomberg. Retrieved 2016-12-14.
  14. ^ "Domo Raises Funding From BlackRock With IPO Plans on Hold". Bloomberg.com. 2017-04-27. Retrieved 2017-04-28.
  15. ^ "DOMO, INC. (DOMO) IPO". NASDAQ.com. Retrieved 2018-06-29.
  16. ^ a b c "Omniture Co-Founder Launches New Business Intelligence Venture". Enterprise Apps Today. July 14, 2011. Retrieved 2012-09-06.
  17. ^ "What We Do :: Overview". DOMO. Retrieved 2012-09-06.
  18. ^ "Utah's Josh James among 192 Young Global Leaders". The Salt Lake Tribune. Retrieved 2012-09-06.
  19. ^ Hardy, Quentin (October 24, 2011). "The Big Business of 'Big Data'". The New York Times Blogs. Retrieved 2012-09-06.
  20. ^ "Customers". domo.com.

External links[edit]