Big Data Company Domo Sees Its Stock Climb 30 Percent In First Day Of Trading

Big Data startup Domo saw the value of its stock climb 30 percent in its first day of trading, closing out at a price of $27.30 per share.

Domo, based in American Fork, Utah, went public Friday on the NASDAQ exchange under the symbol DOMO, issuing 9.2 million shares at $21 per share and a market value of $524 million.

Founded in 2010, Domo develops a business intelligence and reporting system for executives and managers, collecting data from multiple disparate sources and presenting it in ways tailored to a user's role (CEO, finance, sales and marketing, and so on) within specific industries.

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CEO Josh James previously founded Omniture in 1996 and took that company public in 2006.

Before going public Domo had raised nearly $690 million in multiple rounds of venture funding from Institutional Venture Partners, TPG Growth, BlackRock, Greylock Partners, and Amazon CEO Jeff Bezos.

Domo works with multiple categories of channel partners, including systems integrators and business analytics consultants in its Go-To-Market Partner Program such as Search Discovery and BT Partners; Marketing agencies like Red Door Interactive, Blue Moon/Digital and ROI-DNA; and ISV partners that develop applications and plug-ins that work with the Domo system.