Domo sells its main businesses for $400 million, leaving founder Josh James with a hoard of cash to put to work

Business Insider· 10h ago· 4 min read

Josh James, founder and CEO, Domo. Business Wire/AP Progress Software is acquiring Domo's AI and data business for $400 million. Domo will keep its current leadership and operate as a separate entity after the deal. Business Insider previously reported on Domo's business and leadership challenges. Progress Software agreed to buy Domo's AI and data business for $400 million, ending a tumultuous chapter for tech executive Josh James. It's not the end, though. Progress, a public software company with a $1.5 billion valuation, will buy almost all of Domo's operations and employees and assume some of its liabilities, according to announcements. "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," James said in Domo's announcement. After the deal closes, Domo will remain a separate publicly listed company with a different name and ticker. James, Domo's CEO and founder, will lead this entity. Business Insider ha

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