Utah entreprenuer Josh James to attend White House for JOBS Act signing
OREM — Today, Josh James, the Utah entrepreneur who co-founded Omniture, will attend the White House signing of a series of bills designed to help small businesses and startups find funding, according to peHub.com.
The Jumpstart Our Business Startups, or JOBS, Act "makes a tremendous difference for entrepreneurs trying to get funding who are yet unproven," James said in a statement. "Crowdfunding is a fantastic trend. It certainly has some risks, like all investing does, but in today's modern age, more people should be able to back entrepreneurs and businesses in which they believe."
Other invitations were sent to Barry Silbert, founder and CEO of SecondMarket, Scott Dorsey, CEO and co-founder of ExactTarget and a number of other venture capitalists and entrepreneurs.
The act will let companies find funding and become publicly traded faster and easier by relaxing Securities and Exchange Commission regulations.
Adobe bought James' Omniture for $1.8 billion in 2009. Eventually, the entrepreneur left and started Domo Technologies, which has developed an enterprise dashboard that aggregates business information for executives.
Domo received $43 million in seed investments including $33 million from Menlo Park, Calif.-based Benchmark. The other $10 million came from angel investors including Salesforce.com CEO Marc Benioff and John Thompson, chairman of Symantec Corp.
The company also received $20 million from Institutional Venture Partners, another Menlo Park-based venture capital firm, in later investment rounds.