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TechUtah<br>Utah tech leader who coined ‘Silicon Slopes’ selling his company for $400M<br>Once valued at $2B, Domo sprang to life in 2010 after the founder’s record sale of his first business<br>Published: July 23, 2026, 4:01 p.m. MDT
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Josh James, founder of Omniture, unveils his newest business information venture, Domo, at the launch event at the Grand America Hotel on Wednesday, July 13, 2011. Joey Ferguson, Deseret News
By Art Raymond<br>Art is an award-winning reporter who covers advanced industry and technology on the Deseret News' special projects team.
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Utah business analytics firm Domo announces it will be acquired in a $400M deal.<br>The company, founded in 2010, earned a valuation of $2 billion in 2017.<br>Domo's founder hit it big with his first company, Omniture, acquired by Adobe in 2009 for $1.8 billion.
Utah business analytics firm Domo announced it has struck a deal to be acquired by Progress Software Corporation for $400 million, a steep discount for a company that breached a $2 billion valuation mark in a 2017 funding round.<br>Progress Software gets substantially all of Domo’s assets and employees, assumes certain liabilities but excludes net operating losses being carried forward, according to the Wednesday night announcement. Progress, headquartered in Burlington, Massachusetts, says it “expects to continue serving Domo customers and supporting the Domo technology platform, while bringing additional scale, resources and enterprise software expertise to its ongoing development.”<br>Following the transaction’s closing, Domo will change its name and stock ticker and remain a separate, publicly-traded company with “limited operating expenses and a debt-free balance sheet,” per the announcement.<br>Domo founder and CEO Josh James, a Utah tech business veteran who is widely credited as the creator of the “Silicon Slopes” moniker, thanked his Domo staffers in a press statement.<br>“Domo has always been about helping organizations put data to work in ways that create real business value,” he said. “I am deeply grateful to the employees who built this company, supported our customers and kept pushing the platform forward through every stage of our journey. Their work created the opportunity that brought us to this moment. I believe Progress can provide a strong, long-term home for Domo’s business and help extend the impact of what our team has built.”<br>Domo Technologies in American Fork on Wednesday, March 30, 2016. | Jeffrey D. Allred, Deseret News<br>Domo’s Utah tech legacy<br>On Thursday, Clint Betts, CEO of Silicon Slopes, celebrated James’ legacy in a statement shared with the Deseret News.<br>“No one has done more for Utah’s tech ecosystem than Josh James,” he said. “From Omniture to Domo, now with a new company with plenty of cash, I’m excited to see what he does next and the legacy he continues to build.”<br>James, who studied business management at Brigham Young University, helped put Utah on the map back in the nascent days of its tech industry, years before Silicon Slopes would become a brand — and bragging point for state leaders — thanks to the success of his first business analytics startup, Omniture.<br>Josh James, the CEO and Co-Founder of Omniture, speaks at the Omniture Summit at the Grand America Hotel in Salt Lake City on Wednesday, March 3 , 2010. | Laura Seitz, Deseret News<br>Founded in 1996, Omniture helped carve out a new business category, automating processes to customize websites and extracting data from social media sites. The company went public in 2006 and, according to his biography, James earned the distinction of being the youngest CEO of a company listed on the Nasdaq Exchange for Omniture’s three years on the platform. Omniture’s success would attract the attention of California software giant Adobe, which acquired the company in 2009 in a deal worth $1.8 billion.<br>The deal is frequently noted as a bellwether moment for Utah’s tech sector.<br>Ben Gaines, who was Omniture’s social media manager at the time the Adobe deal was announced, recounted the moment he found out his world was about to change dramatically, in a 2019 Deseret News story.<br>“At the time, I was the social media public representative for Omniture,” Gaines said. “So I was on Twitter all day ... checking in with customers and...