Metreo “Hits Wall”, Assets to Be Liquidated

Metreo, former darling of the venture capital community, will be liquidated by creditors this week after failing to make debt payments.

The MSNBC report illustrates the danger of plotting growth curves for very small companies:

The company had reported revenue of $3.7 million for 2003, representing 1,600 percent revenue growth over the previous two years, making it No. 1 on the Business Times’ 2004 list of the region’s fastest-growing private companies. Metreo was also recognized with awards from other companies such as Deloitte & Touche. The consulting firm named Metreo a Silicon Valley rising star as recently as October, Metreo’s second year on Deloitte’s list of regional high-fliers.

Good luck to Metreo employees and clients as they look for new homes or new partners.

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