FORTUNE -- Today, enterprise software company Domo announced that it had closed $125 million in funding. TPG led the round, which includes Fidelity Investments, T. Rowe Price (TROW), and Salesforce (CRM), among others. TPG principal Nehal Raj will join the board. Here's the story explaining the tenuous situation surrounding the deal.
This is an edited excerpt from a feature from the February 24 feature "The Wildest, Craziest, Most Death-Defying (Mormon) Mogul on the Planet. Click on that URL to read the entire article.
Josh James didn't have time to be sick. In December, 2013, only a few years after selling his software company Omniture to Adobe (ADBE) for $1.8 billion, he was about to close a $125 million round of financing for Domo, his young enterprise-software company. This wasn't the moment to take a day off.
So James, 40, tried to ignore the sore throat that had been building since a brief trip to Thailand the month before. Still, it was worrisome. The soreness wasn't anything he had ever experienced. James was in constant pain, as if a golf ball had lodged itself in his trachea. It was becoming hard to breathe. He had a fever, too, with his temperature occasionally spiking to a dangerous 104 degrees. Antibiotics lowered the temperature briefly, but then it returned with even more savagery.
James kept working, traveling from his Utah home to San Francisco and New York in early December for meetings. But his breathing was so shallow that he had to go to emergency rooms in Utah and San Francisco. The doctors helped ease his symptoms but couldn't figure out the cause; his Utah physician sent his throat-culture samples for tests.
At the end of a cross-country flight to New York on Dec. 11, James finally got a diagnosis. He was seated in first class next to Domo's president, Chris Harrington. The two spent the flight strategizing, leaning close over the armrest to keep others from overhearing. James was so exhausted he could barely concentrate. Just before the Wi-Fi signal shut off for landing, an email arrived from his doctor: James's body was harboring Neisseria meningitidis -- a bacterium that causes meningitis. The disease is highly contagious and can be fatal.
The doctor ordered him not to come within six feet of other people and to report to an emergency room immediately. James abruptly slid away from Harrington, forwarded the doctor's email, and texted, "Don't talk to me. Read your email. I'm sorry." Once the plane landed, James told his driver to take him to Lenox Hill Hospital on Manhattan's Upper East Side.
There the receiving doctor delivered a stark message: James had 48 hours to live. Medics rushed him to an isolation room, where they coated the inside of the windows with plastic. A nurse wearing a protective full-body suit ran an IV into an artery to push a massive dose of antibiotics directly into his heart. Then she quickly departed.
For hours, James was left alone, his body wracked with chills. Every few minutes the IV bag would slip from its holder and its monitor would begin bleating, but nobody came to adjust it. After three or four hours, he says, he was finally able to get the attention of the nurses, followed by that of the hospital's head of infectious diseases.
Despite his isolation, his fever, and the doctor's statement that his death was imminent, James felt strangely calm. He didn't believe he was about to die, though he did reflect on his life. As James puts it, "I remember thinking, I know I've been honest in all my relationships and tried my hardest to be a great friend and brother and dad and husband. I wish I'd been a little nicer to my wife."
Then, almost as fast as it began, the crisis abated. James's body began responding to the antibiotics, and his fever dropped. Sometime around 2 a.m. -- about eight hours after he entered the hospital -- a doctor arrived with good news. The bacteria had been sealed in an abscess, a protective coating his body had made, and trapped in his throat. The disease had not spread to the rest of his body. He was likely to survive.
Within days, James was working from his hospital bed. He called Nehal Raj, a principal at TPG, which was on the point of agreeing to lead a new round of funding for Domo. "Hey, it's Josh James. Where are we at?" On Dec. 17 -- less than a week after being told he had 48 hours to live -- James joined Raj and TPG partner Bryan Taylor in a private dining room at Spice Market, a trendy Asian restaurant in Manhattan's Meatpacking District, to toast their imminent deal, which would value Domo at more than $800 million. James updated his TPG partners on his near-death experience, pulling the sleeve of his sweater up to reveal an IV still taped to his arm. "Look, before we sign," said Raj, "is there anything else we should know about your condition and recovery?"
"No," said James. "I'm going to be just fine."
This is an edited excerpt from a feature from the February 24 feature The Wildest, Craziest, Most Death-Defying (Mormon) Mogul on the Planet. Click on that URL to read the entire article.
Ex-Peoplesoft execs successfully founded Workday after Oracle's hostile buyout. But can they successfully make a profit?
FORTUNE -- The technology industry loves an underdog, especially when a scrappy startup makes breakfast of a bloated incumbent. In enterprise software, Workday (WDAY) has emerged as just such an underdog, using a cloud-based business model to handle human-resources software and take on giants like Oracle (ORCL) and SAP (SAP).
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Ahead of the Oracle Open World developers' conference, co-president Mark Hurd spoke to Fortune about the software giant's shift to the cloud, and what else is next.
FORTUNE -- Mark Hurd has been co-president of mega-cap technology company Oracle for three years now, having joined shortly after his dramatic exit as CEO of Hewlett-Packard. Hurd's dramas these days are the more typical business type: Oracle's coming to grips that it is MOREAdam Lashinsky, Sr. Editor at Large - Sep 23, 2013 10:41 AM ET
The company's latest file-syncing product is better, yes. Will it draw in streams of new customers? Not likely.
FORTUNE -- Does the world really need another file storage service? Probably not, but Salesforce.com (CRM) claims its new product, Salesforce Files, isn't just any ordinary "repository."
The San Francisco-based company announced an earlier version of the tool, a file-sharing service called Chatterbox, at last year's Dreamforce event (its annual customer lovefest, hosted by MOREMichal Lev-Ram, writer - Sep 6, 2013 12:13 PM ET
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FORTUNE -- Last week's disclosure that the Securities and Exchange Commission is conducting an investigation into how IBM reports its cloud computing revenue poses more questions than answers. The New York-based tech giant admitted it has been cooperating with the SEC since last May but said little else about the particulars of the case. One thing is MOREMichal Lev-Ram, writer - Aug 8, 2013 11:00 AM ET
The hot enterprise firm is only now putting its software online.
FORTUNE -- You might assume that a young, fast-growing enterprise software company like Tableau Software is all about the cloud -- a.k.a. selling and distributing applications over the web. But the Seattle-based company, which started out as a Stanford University research project in 2003, is only now launching a software-as-a-service version of its business intelligence tool, Tableau Server.
In May, Tableau MOREMichal Lev-Ram, writer - Jul 18, 2013 7:01 AM ET
Concern that the headwinds hitting Oracle are not cyclical but secular are growing.
By Kevin Kelleher, contributor
FORTUNE -- What do you do when you are the best company in your industry, but your industry is mired in a slump of mediocre performance?
That's the dilemma faced by Oracle (ORCL), the enterprise software giant that has long been the most feared player in the competitive market for business software. Last week, Oracle reported that MOREJun 28, 2013 10:52 AM ET
Long-time opponents are teaming up.
FORTUNE -- It's the end of an era. Or the beginning of one, as Oracle and Salesforce.com would describe it. The formerly sparring enterprise tech companies hosted a conference call for press and analysts Thursday afternoon, in which they outlined a new, nine-year partnership through which their respective cloud-based applications will work hand-in-hand.
"The value we can provide to customers is just awesome," said Marc Benioff, CEO of Salesforce MOREMichal Lev-Ram, writer - Jun 28, 2013 9:28 AM ET
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