Hype and plunder: Domo a new low for self-indulgent IPOs
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Re: Hype and plunder: Domo a new low for self-indulgent IPOs
#2Is there a GDPR friendly version of this? [sigh]
Re: Hype and plunder: Domo a new low for self-indulgent IPOs
#3For the EU this might be a good general summary: https://seekingalpha.com/article/4179302-may-scariest-ipo-fi...
Re: Hype and plunder: Domo a new low for self-indulgent IPOs
#4[deleted]
Re: Hype and plunder: Domo a new low for self-indulgent IPOs
#5For the EU this might be a good general summary: https://seekingalpha.com/article/4179302-may-scariest-ipo-fi...
Ta :-)
Re: Hype and plunder: Domo a new low for self-indulgent IPOs
#6I've been apart of two companies who did similar things DOMO is doing and neither ended well. Both had millions of VC money and the CEO burned through it all on executive boxes at several pro teams, remodeling an office that didn't need it, travel expenses, and paying himself exorbitantly.
Because of their spending, both companies slashed their runway in half, and within months, both companies went under before being able to ship a viable product.
I don't see a good outcome for this company.
Re: Hype and plunder: Domo a new low for self-indulgent IPOs
#7Reading this whole article and it isn't until the end you find out what Domo even does. Can't believe they've built an 800million deficit this quickly. Besides the wasteful expenditures described in the article, where is the money going? This isn't like Uber where they have to spend to grow. They are a software-only company.
Re: Hype and plunder: Domo a new low for self-indulgent IPOs
#8Reading this whole article and it isn't until the end you find out what Domo even does. Can't believe they've built an 800million deficit this quickly. Besides the wasteful expenditures described in the article, where is the money going? This isn't like Uber where they have to spend to grow. They are a software-only company.
They are a BI dashboard company with lots of data integration connectors. They've been burning money with ads declaring 'spreadsheets are dead' and silly Domopalooza[1] lifestyle events
[1]https://www.domo.com/news/press/domopalooza-2016-to-feature-...
[2] https://www.domo.com/news/press/kesha-joins-the-domopalooza-...
[3] https://globenewswire.com/news-release/2018/02/15/1349133/0/...
Re: Hype and plunder: Domo a new low for self-indulgent IPOs
#9I first heard of Domo last year when we were trying to find a better alternative our BI system. And boy, we were in for a ride.
The first warning sign was that their pitch was full of cool sounding words. They kept referring to the product as a "cloud based operating system", whatever that meant.
When we asked them to demo, their presales consultant struggled to create anything other than a canned demo.
Personally, I even find their site annoying:
Re: Hype and plunder: Domo a new low for self-indulgent IPOs
#10Reading this whole article and it isn't until the end you find out what Domo even does. Can't believe they've built an 800million deficit this quickly. Besides the wasteful expenditures described in the article, where is the money going? This isn't like Uber where they have to spend to grow. They are a software-only company.
>where is the money going?
$1.8m leasing a jet from the CEO and $300k on catering from a restaurant owned by the CEO and his brother is part of it, according to FT Alphaville (free, but registration required):
https://ftalphaville.ft.com/2018/06/05/1528193040000/What-is...