Domo Inc. Class B Common Stock (1ON)
XDUS 
Summary
1ON Chart
Progress Software Bets on AI With $400 Million Deal for Domo's Data Platform
Progress Software NASDAQ: PRGS said it has entered into an agreement to acquire Domo's AI and data platform business in a transaction valued at a headline purchase price of $400 million, executives said on a conference call discussing the deal.
How Domo went from a $2.8 billion darling to fighting for its survival
In 2022, the founder of software company Domo stepped down as CEO after he was accused of sexually assaulting an employee on a work trip, an allegation he denied. A year later, he came back to lead the company.
Domo: With Demand Fading Sharply, Don't Count On A Deal To Save This Company
Domo exemplifies the 'SaaSpocalypse,' with its business shrinking and little hope for recovery. Q1 results were dismal, extending DOMO's year-to-date losses to over 60%, with no visible growth catalysts. Management has openly acknowledged the lack of organic turnaround options and is pursuing strategic alternatives, likely a sale.
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Domo Inc. Class B Common Stock Profile
| Software Industry | Information Technology Sector | Joshua G. James CEO | XDUS Exchange | US2575541055 ISIN |
| US Country | 876 Employees | - Last Dividend | - Last Split | 29 Jun 2018 IPO Date |
Overview
Domo, Inc. is a prominent figure in the cloud-based business intelligence sector, operational primarily in North America, Western Europe, Canada, Australia, and Japan. The company is dedicated to transforming the way businesses operate by creating a digital connectivity nexus that spans from the CEO to the frontline worker. This connectivity encompasses the myriad of people, data, and systems within an organization, facilitating access to real-time data and insights. Moreover, Domo's innovative platform empowers users to manage business operations directly from their smartphones, ensuring unparalleled flexibility and efficiency. Initially known as Domo Technologies, Inc., the company underwent a rebranding to Domo, Inc. in December 2011. Founded in 2010, Domo, Inc. has established its headquarters in American Fork, Utah, and has since been at the forefront of business intelligence and data visualization solutions.
Products and Services
- Cloud-based Business Intelligence Platform:
This comprehensive platform serves as the backbone of Domo, Inc.'s offerings, allowing organizations to seamlessly integrate their disparate data sources and systems into a unified, real-time analytics and reporting environment. By leveraging the power of cloud computing, clients can access and analyze data from anywhere, facilitating informed decision-making and agile responses to market changes. The platform is designed to be user-friendly, enabling individuals at all levels of an organization to interact with data and derive actionable insights, thereby democratizing access to business intelligence.
- Real-time Data and Insights:
One of the cornerstone features of Domo's services is the provision of real-time data and insights. This capability ensures that all stakeholders, from executives to frontline employees, are equipped with the most current information regarding their business operations. The immediacy of data retrieval and analysis plays a vital role in enabling quick decision-making and operational adjustments, ensuring that organizations can maintain a competitive edge in fast-paced business environments.
- Mobile Business Management:
Recognizing the increasing reliance on mobile technology in the workplace, Domo has strategically positioned its platform to be fully accessible and manageable via smartphones. This mobility aspect ensures that users can oversee their business operations, interact with data, and collaborate with team members without being tethered to a desktop. The mobile functionality is designed to support the modern workforce's need for flexibility and on-the-go access to critical business insights.
