Domo President Leaving for InsideSales
Chris Harrington is going to InsideSales to become its chief operating officer.
That would be news alone, but it's more newsworthy because Harrington quit Domo less than three months after the company went public. Whatever his reason, Harrington won't go far because both companies are virtually neighbors.
Still, Harrington's departure doesn't look good for Domo. But it also shows there's serious business going on in Utah.
Harrington served as Domo's president for six years. The company went public in June, but the IPO was underwhelming.
The company was valued at $2 billion three years ago. Now it trades at a market capitalization of under $600 million.
According to Forbes, Harrington's move from Domo to InsideSales is unusual. It's not just the timing; it's the landscape.
Venture capitalist Mark Gorenberg is a board director for both companies. Josh James, CEO of Domo, is also a board member of InsideSales. He had to recuse himself from Harrington's hiring process.
Harrington will leave Domo on Oct. 1, but will stay within Utah's "Silicon Slopes." Industry leaders say it is cloud computing's new capital.
In the tight-knit community, he says there are no hard feelings at Domo.
"I'm a Domo-sapien," he said. "I think things are in a really good spot, but this is more about the opportunity at InsideSales."
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