Skip to main content

Secret Magical Startup Emerges Into Universe Worth Billions

It's a Silicon Valley miracle...or valuation stunt. We cant' tell anymore.

Sometimes Silicon Valley is just too much.

Today is one of those times.

After four years of silent running, Utah-based data management startup Domo is coming out of nowhere with a $2 billion valuation, based on its $100 million revenue run rate.

Today, Domo announces the official launch of its product and the news of a $200 million Series D round of financing led by BlackRock — bringing it up to $450 million in total funding, and making it the latest member of the so-called Unicorn Club of startups valued at over $1 billion.

Veritably no one had really even heard of Domo before today, and now it’s a $2 billion company. It’s roughly 1,000 existing clients, like DHL, have had to keep their relationship with Domo on the DL or risk breaking the omerta of a venture capital stunt.

That secrecy also prevents the usual rumor-mongering and makes it tougher for potential rivals to copy the idea, incubate and emerge.

But $2 billion?

According to Domo’s CEO, it might be a deal.

I think our investors got the deal of the century,” says Domo founder and CEO Josh James.

James contends that Domo is actually like a Rube Goldberg Swiss Army Knife of data integration companies and would better be described as “five startups in one.”

But even at ‘five for the price of one,’ $2 billion is an astronomical number for a company with no track record.

Even in a world where car services are valued at $41 billion, the birth of a fully-formed unicorn is sure to take many in the Valley more than a little aback.

Then again, it makes sense that unicorns might just appear like this, because unicorns – once again – Are. Not. Real.

A startup swore 1,000 customers to secrecy so it could come out of nowhere at a $2 billion valuation [BI]


The Hottest Startup In New York Is Oscar

It's got everything; a health care business model, a real estate scion founder, Goldman Sachs, a $1 billion valuation, and dancers dressed like Peter Thiel... nope - sorry - that's actually Peter Thiel.

Silicon Alley's First $10 Billion Tech Startup Isn't A Tech Startup

WeWork is worth a sh*t ton of money, but that means very little to NYC's tech scene.

Credit Suisse: It's A Tech Bubble, Stupid

Unicorns are suddenly everywhere, and that is literally nonsense.

Controversial Private Bus Startup For Rich Techies Gets Money and Support From Likeliest of Sources

Who would ever fund a startup that ships rich tech types to the Valley and screws up everyone else's commute? Oh wait, I think I got it...

Decision Making In Tech Is A Bouillabaisse of Fact and Fiction

Reality is murky in Silicon Valley, but the money is real as f*ck.